$FET APPROACHING LOCAL SUPPORT AMIDST HEAVY SHORT INTEREST 📉
Entry: 0.1645 🔥
Target: 0.1785 🚀
Stop Loss: 0.1622 ⚠️
$FET is testing the lower Bollinger Band on the 1H timeframe, presenting a technical opportunity for a mean reversion play. Current price action shows a consolidation phase, but overhead supply remains significant due to a large short position cluster averaging 0.197.
We are monitoring for a volume-backed reclaim of 0.1715 to signal potential strength. Given the 88.6M token short interest, upside momentum will likely require a catalyst to force a squeeze toward the 0.1839 resistance level. Do you expect a liquidity sweep of the 0.1622 swing low before the bounce?
Not financial advice. Always manage your risk.
#FET #TechnicalAnalysis #CryptoTrading #OrderFlow
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Entry: 0.1645 🔥
Target: 0.1785 🚀
Stop Loss: 0.1622 ⚠️
$FET is testing the lower Bollinger Band on the 1H timeframe, presenting a technical opportunity for a mean reversion play. Current price action shows a consolidation phase, but overhead supply remains significant due to a large short position cluster averaging 0.197.
We are monitoring for a volume-backed reclaim of 0.1715 to signal potential strength. Given the 88.6M token short interest, upside momentum will likely require a catalyst to force a squeeze toward the 0.1839 resistance level. Do you expect a liquidity sweep of the 0.1622 swing low before the bounce?
Not financial advice. Always manage your risk.
#FET #TechnicalAnalysis #CryptoTrading #OrderFlow
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