In my previous post on $FET , I identified support at 0.1754 and a short trigger below 0.1695. The price is now below both levels, so the bearish scenario has played out, while the long setup from 0.1826 is invalidated. The first short target at 0.1452 has not been reached: the low was 0.1523, followed by a bounce.
Backdrop: the market is under pressure following the Binance hack.
Binance data:
• Spot: 5-day outflow of $3.07M; over the past 24 hours, there have been small buys from mid-sized orders, but large orders remain net sellers.
• Futures: open interest rose from $123.2M to $125M as the price fell. Top traders’ long/short ratio is 1.61, while retail’s is 2.91; retail is heavily skewed long.
• Funding dipped to -0.05% and returned to +0.00359%. The sharp skew toward shorts has eased.
Technicals:
• 1h: price at 0.1652, below EMA(21) at 0.1663, EMA(50) at 0.1712, and EMA(200) at 0.1791. Supertrend at 0.1698, RSI(6) at 55.88.
• 4h: strong downtrend. EMA(21) at 0.1739, EMA(50) at 0.1791, EMA(200) at 0.1942, Supertrend at 0.1795, RSI(6) at 34.90.
• 1d: price below EMA(21) at 0.1887, EMA(50) at 0.1924, and EMA(200) at 0.2004. RSI(6) at 27.15, below 30.
Scenarios:
🟢 If 0.1600 holds, a bounce to 0.1710–0.1740 is possible.
🔴 If 0.1600 is lost, there is a risk of a return to 0.1523, then to the 0.1350–0.1400 zone.
FET: bounce to 0.17 or a new low?
