FETUSDT Breakout happeningFETUSDT breakout on 4H, Let's wait for the candle close, expecting some gain here!!
FETUSDT trade ideas
FET/USDT -Key Levels and Potential Price Movements
Introduction:
In this technical analysis, we'll delve into the FET/USDT trading pair, highlighting critical levels and potential price movements.
1. Range High Deviation:
FET/USDT recently witnessed a range high deviation, causing the price to retreat from its peak above 0.2575. This deviation suggests a potential shift in market sentiment, indicating that buyers may be losing their grip on the market.
2. 0.2345 - A Critical Support:
The level to keep a close eye on is 0.2345. If FET/USDT breaks below this critical support level, it could confirm a bearish trend. Such a breach might open the door for further downward movement, potentially testing the 0.2100 support area.
3. Supply Zone: 0.2450 - 0.2500
Should the price dip below 0.2345, traders should pay attention to the 0.2450 - 0.2500 range. This zone, previously acting as support, may now turn into a supply area. Market dynamics often see prices tap into these supply zones before falling further, making it a key region to watch for potential reversals or shorting opportunities.
Scenario 1 (Bullish):
If FET/USDT can maintain support above 0.2345 and starts to show signs of recovery, traders may consider long positions with a target near the recent range high above 0.2575. Remember to set stop-loss levels to manage risk.
Scenario 2 (Bearish):
In case 0.2345 is decisively breached, it might be a signal for a potential downtrend. Traders could look for shorting opportunities, targeting the 0.2100 support level, but be cautious as the market approaches the 0.2450 - 0.2500 supply zone. Ensure risk management with stop-loss orders.
This analysis is for informational purposes only and should not be considered financial advice. Always conduct your research and consult with a financial advisor before making trading decisions.
FETUSDTFETUSDT Forming A Falling Wedge, So We Can Take A Long Trade.
Entry : $0.3477-$0.3415-$0.3347
🎯Target 1 $0.3510
🎯Target 2 $0.3545
🎯Target 3 $0.3595
🎯Target 4 $0.3654
🎯Target 5 $0.3719
🎯Target 6 $0.3828
🎯Target 7 $0.3906
⭕Stop loss : $0.3208
💰Place a Limit Order in 3 Parts
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