Don't enter a Long on $FET in these areas, as the price could drop further ❌👇
After the latest drop, the price broke through a local support zone at 0.2045.
The price is now testing the resistance zone that was previously a support zone.
But one thing stands out: there is pressure from spot liquidity.
This pressure is accompanied by exits from Long positions with every drop. Supporting this view is the Open Interest indicator, which is declining—meaning Long holders are capitulating.
Now, the most important points 🚨👇
We have two key zones to watch:
Demand zone: 0.1973
Resistance zone: 0.2045
🔴 Any rejection at the resistance zone could lead to a drop to test the ascending trendline:
First target: 0.1895
Second target: 0.1850
Third target: 0.1798
Don't rush into a decision. Wait for confirmation.
After the latest drop, the price broke through a local support zone at 0.2045.
The price is now testing the resistance zone that was previously a support zone.
But one thing stands out: there is pressure from spot liquidity.
This pressure is accompanied by exits from Long positions with every drop. Supporting this view is the Open Interest indicator, which is declining—meaning Long holders are capitulating.
Now, the most important points 🚨👇
We have two key zones to watch:
Demand zone: 0.1973
Resistance zone: 0.2045
🔴 Any rejection at the resistance zone could lead to a drop to test the ascending trendline:
First target: 0.1895
Second target: 0.1850
Third target: 0.1798
Don't rush into a decision. Wait for confirmation.