By monitoring the currency chart $FET on the 4-hour timeframe, we clearly see that the price is currently trading at levels of 0.1636. The price is facing pressure from moving averages, which prompts us to wait and observe rather than rush in. The last bottom that formed at 0.1582 is the area we are currently watching with great interest.
Here is the updated roadmap based on this price behavior:
Golden support area: between 0.1580 and 0.1600 (breaking this level may push us to visit 0.1480).
Nearby resistance: 0.1666 (breaking it means regaining upward momentum).
The first target for the sniper: 0.1760 (the previous clear peak on the chart).
Emergency exit: A clear close below the level of 0.1570.
The lesson to be recalled here from the pinned post on my page is the patience of the hunter. We notice on the chart that trading volumes have started to shrink with the decline, which is a good indicator that may imply the near end of selling pressure. If the price touches the support area and we start to see a strong bullish candle with rising green volume, this will be the moment to board the train that we have been waiting for.
Do not buy just because the price has dropped, but buy because the price has rebounded from a strong area. Adhering to the numbers mentioned on the chart is what will protect you from sudden fluctuations. Refer back to the pinned post to remember how to distinguish between a real rebound and a false one before making your decision.
Discussion question:
Looking at the current candle on the chart, do you expect the level of 0.1582 to hold off the decline for the second time, or will we see a test of lower levels? Share your expectations in the comments and let’s monitor the movement together over the coming hours.
Alert: This analysis reflects a technical perspective based on the current chart data, and is not financial advice for buying or selling. The crypto market is volatile, and risk management is the key to your survival.