๐ $FET Daily Chart Analysis ๐
$FET is flashing a classic rounding top pattern on the daily timeframe โ a potential reversal structure that often signals weakening bullish momentum.
๐ Key Observations:
Neckline Support Zone: Price is currently hovering just above this crucial level.
If this neckline breaks decisively, especially on strong volume, it would confirm the pattern and open the door to further downside.
๐ซ Current Stance:
As long as #FET.๐ holds above the neckline, this remains a no-trade zone โ itโs all about reaction and confirmation.
No need to rush โ let the chart confirm the direction.
๐ Bearish Scenario:
Breakdown = short opportunity
Watch for volume spike and retest rejection to confirm entry.
๐ต๏ธโโ๏ธ Stay cautious โ the structure is bearish-biased, but confirmation is king.
#GENIUSActPass #FETโค๏ธ #Fetch.ai
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