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In this analysis, I’m going to review the FET coin for you. This project is one of the top AI-related projects in the crypto category.
💫 With a market cap of $1.8 billion, it currently ranks 48th on CoinMarketCap.
📅 Weekly Timeframe
In the previous analysis, I mentioned that if the ascending trendline in this timeframe is broken, the price would make a higher high beyond 3.099, and with the activation of the trendline trigger, we could confirm a trend reversal in this timeframe.
✔️ As you can see, that scenario has played out. After breaking the trendline and the 0.382 Fibonacci level, the price dropped sharply down to the 0.786 level.
✨ The price reaction at this level was very quick, and after hitting this zone, it gained bullish momentum again with a bullish engulfing candle and has now reached the 0.797 area.
📈 If the 0.797 level breaks, the price could experience another sharp upward move. The next resistance levels are 1.095, 2.068, and 3.099 — with 1.095 overlapping with the 0.382 Fibonacci level.
📊 The main confirmation of trend reversal will be given by forming a higher high and higher low above the 0.797 level — confirming Dow Theory.
🔽 For a bearish continuation, the confirmation comes with a break of the 0.786 Fibonacci level. The main support levels are 0.185 and 0.058.
📅 Daily Timeframe
In the daily timeframe, we can better see the details of this bullish move. As observed, the price has had a sharp leg up from the 0.379 bottom to 0.791 without any real correction.
🧩 Given the strength of the 0.791 resistance, a correction is more likely here. If the price moves upward without correction, it’s usually not a good sign for trend sustainability. A healthy trend includes corrections.
🎲 However, if 0.791 breaks and RSI enters the Overbought zone, the price could continue rising toward the 1.128 resistance. While this might not be ideal for trend health, the risk-to-reward ratio makes opening a position worthwhile.
🛒 In my opinion, a correction followed by a new bullish wave would be a more ideal setup, increasing the chances of a breakout. Breaking this level could be a strong trigger for both spot buying and futures positions.
📉 For a bearish scenario, we need to wait for the price reaction to 0.791 and then enter after confirmation of trend reversal. Lower-level triggers would be the breaks of 0.567, 0.455, and 0.379.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
In this analysis, I’m going to review the FET coin for you. This project is one of the top AI-related projects in the crypto category.
💫 With a market cap of $1.8 billion, it currently ranks 48th on CoinMarketCap.
📅 Weekly Timeframe
In the previous analysis, I mentioned that if the ascending trendline in this timeframe is broken, the price would make a higher high beyond 3.099, and with the activation of the trendline trigger, we could confirm a trend reversal in this timeframe.
✔️ As you can see, that scenario has played out. After breaking the trendline and the 0.382 Fibonacci level, the price dropped sharply down to the 0.786 level.
✨ The price reaction at this level was very quick, and after hitting this zone, it gained bullish momentum again with a bullish engulfing candle and has now reached the 0.797 area.
📈 If the 0.797 level breaks, the price could experience another sharp upward move. The next resistance levels are 1.095, 2.068, and 3.099 — with 1.095 overlapping with the 0.382 Fibonacci level.
📊 The main confirmation of trend reversal will be given by forming a higher high and higher low above the 0.797 level — confirming Dow Theory.
🔽 For a bearish continuation, the confirmation comes with a break of the 0.786 Fibonacci level. The main support levels are 0.185 and 0.058.
📅 Daily Timeframe
In the daily timeframe, we can better see the details of this bullish move. As observed, the price has had a sharp leg up from the 0.379 bottom to 0.791 without any real correction.
🧩 Given the strength of the 0.791 resistance, a correction is more likely here. If the price moves upward without correction, it’s usually not a good sign for trend sustainability. A healthy trend includes corrections.
🎲 However, if 0.791 breaks and RSI enters the Overbought zone, the price could continue rising toward the 1.128 resistance. While this might not be ideal for trend health, the risk-to-reward ratio makes opening a position worthwhile.
🛒 In my opinion, a correction followed by a new bullish wave would be a more ideal setup, increasing the chances of a breakout. Breaking this level could be a strong trigger for both spot buying and futures positions.
📉 For a bearish scenario, we need to wait for the price reaction to 0.791 and then enter after confirmation of trend reversal. Lower-level triggers would be the breaks of 0.567, 0.455, and 0.379.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
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🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💥 Don’t Miss Out!
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.