$FET isn’t looking too healthy on the higher time frames. Both the daily and 4-hour trend are still pointing down, and the price is stuck under the major moving averages, which usually means sellers are still in control. On the 1-hour chart, the price has climbed back up just enough to tap the EMA50 from below, almost like it’s checking if sellers are still hanging around there.

The momentum is also slowing down on the 1h RSI, so buyers aren’t exactly flexing their muscles. The final confirmation they want is for the 15-minute RSI to slip back under 50, which would show the bounce is losing strength again.

If that rejection kicks in, a short position makes sense — basically betting that the downtrend continues.

Trade idea at a glance:

Short Entry Zone: around 0.2483 – 0.2503

Targets:

• TP1: 0.2455

• TP2: 0.2416

• TP3: 0.2377

Stop-Loss: 0.2532 (just above resistance in case price suddenly decides to break higher)