$FET
The scary-looking chart for FET has brought us to a critical, highly divisive crossroads within trading circles
The most likely scenario leans towards short-term bearishness, given the breakdown of key moving averages and the MACD indicator nearing confirmation of a deep negative crossover, accompanied by clear selling pressure around the 0.2231 level
$FET
Accordingly, setting up a short trade looks like a well-judged strategic option upon a retest of the weak resistance at 0.2290, with a direct target at the psychological support level of 0.2100, and placing a strict stop-loss above the Bollinger resistance at 0.2350
The weakness in buying momentum and the failure of spot liquidity to break through the middle boundary of our descending channel make any illusory rally nothing more than a bull trap designed to offload holdings before the inevitable next leg down
$FET
#Market_Update #FET
The scary-looking chart for FET has brought us to a critical, highly divisive crossroads within trading circles
The most likely scenario leans towards short-term bearishness, given the breakdown of key moving averages and the MACD indicator nearing confirmation of a deep negative crossover, accompanied by clear selling pressure around the 0.2231 level
$FET
Accordingly, setting up a short trade looks like a well-judged strategic option upon a retest of the weak resistance at 0.2290, with a direct target at the psychological support level of 0.2100, and placing a strict stop-loss above the Bollinger resistance at 0.2350
The weakness in buying momentum and the failure of spot liquidity to break through the middle boundary of our descending channel make any illusory rally nothing more than a bull trap designed to offload holdings before the inevitable next leg down
$FET
#Market_Update #FET