$FET The target is $5.50, a level that aligns perfectly with the Fibonacci extension and trendline extension.
To build a weekly rebound structure, FET first needs to hold 0.1395 and stay above 0.8507.
The first hurdle ahead is the 0.5 Fibonacci retracement level at 1.8136, followed by the 0.618 golden ratio level at 2.2086, which roughly coincides with resistance at 2.2005.
Once the price breaks above 3.0719 and then clears the previous high of 3.4876, the 1.618 extension level at 5.5568 will become the next target to watch—that is, the $5.50 level the market is eyeing.
Of course, pullbacks at resistance along the way are perfectly normal.
Conversely, if the weekly candle closes below 0.1395 and the rebound fails, this bullish thesis will be invalidated.
To build a weekly rebound structure, FET first needs to hold 0.1395 and stay above 0.8507.
The first hurdle ahead is the 0.5 Fibonacci retracement level at 1.8136, followed by the 0.618 golden ratio level at 2.2086, which roughly coincides with resistance at 2.2005.
Once the price breaks above 3.0719 and then clears the previous high of 3.4876, the 1.618 extension level at 5.5568 will become the next target to watch—that is, the $5.50 level the market is eyeing.
Of course, pullbacks at resistance along the way are perfectly normal.
Conversely, if the weekly candle closes below 0.1395 and the rebound fails, this bullish thesis will be invalidated.
