FET has made an impressive leap (up over +13% in the last 24 hours) and the market structure has completely changed compared to before. Quick trend assessment
Price structure: A clear bullish trend is dominant. On the 1-hour chart, the price is riding the MA7 ($0.2743) steeply upwards and is far from the lower support lines. On the 15-minute chart, the price just rebounded after a slight touch on the MA25 ($0.2740), currently accumulating to retest the old resistance zone around $0.2768 - $0.2830.
Indicators:
RSI (6): Oscillating between 59 - 61, buying pressure is holding well, not yet in an extreme overbought state so there's still room for further gains.
MACD: The 15-minute frame is showing signs of narrowing adjustment (shortening red Histogram), supporting the continuation of the bullish trend.
Main strategy: Prioritize LONG orders (Buy) in line with the upward trend (Trend Following). Limit chasing the peak with Shorts at this moment due to the strong downward force of the 1-hour candles.
๐ข LONG (Buy) $0.2740 - $0.2768 $0.2680 TP1: $0.2830 (Old peak)
TP2: $0.2950 - $0.3000 Recommended. Enter immediately at the current price or scale in when the price tests the support zones of MA7/MA25 on the 15-minute chart ($0.2740). SL placed below the wick of the recent pullback candle on the 15-minute chart.
๐ด SHORT (Sell) $0.2830 (Only for scalping) $0.2870 TP1: $0.2740
TP2: $0.2620 High risk (against the strong trend). Only enter with small volume if the price reaches the old peak $0.2830 but shows a strong rejection wick.$FET
Price structure: A clear bullish trend is dominant. On the 1-hour chart, the price is riding the MA7 ($0.2743) steeply upwards and is far from the lower support lines. On the 15-minute chart, the price just rebounded after a slight touch on the MA25 ($0.2740), currently accumulating to retest the old resistance zone around $0.2768 - $0.2830.
Indicators:
RSI (6): Oscillating between 59 - 61, buying pressure is holding well, not yet in an extreme overbought state so there's still room for further gains.
MACD: The 15-minute frame is showing signs of narrowing adjustment (shortening red Histogram), supporting the continuation of the bullish trend.
Main strategy: Prioritize LONG orders (Buy) in line with the upward trend (Trend Following). Limit chasing the peak with Shorts at this moment due to the strong downward force of the 1-hour candles.
๐ข LONG (Buy) $0.2740 - $0.2768 $0.2680 TP1: $0.2830 (Old peak)
TP2: $0.2950 - $0.3000 Recommended. Enter immediately at the current price or scale in when the price tests the support zones of MA7/MA25 on the 15-minute chart ($0.2740). SL placed below the wick of the recent pullback candle on the 15-minute chart.
๐ด SHORT (Sell) $0.2830 (Only for scalping) $0.2870 TP1: $0.2740
TP2: $0.2620 High risk (against the strong trend). Only enter with small volume if the price reaches the old peak $0.2830 but shows a strong rejection wick.$FET