#AIAgentFrenzy
Attention⚠️ FET holders Its time to sell
FET/USDT Is On 🔥🔥🔥🔥
### **Technical Analysis**
1. **Current Price**: $1.593 (up by 7.78% in the last 24 hours).
2. **Volume**: There is a noticeable spike in trading volume earlier, signaling increased interest.
3. **Moving Averages**:
- **MA60**: $1.578. The price is above the MA60, indicating bullish momentum in the short term.
- **MA5 and MA10**: The MA5 and MA10 are below the current price, further supporting bullish sentiment.
4. **Support and Resistance Levels**:
- **Support**: $1.578 (MA60) and $1.447 (24h low).
- **Resistance**: $1.626 (24h high).
5. **Momentum**:
- The bullish move is confirmed by the upward slope of the price and the breaking of the moving average levels.
- The high volume confirms strong participation in the upward move.
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### **Trade Plan**
#### **For Long (Buy)**
1. **Entry Point**: Enter at $1.590-$1.593 (current level).
2. **Take Profit (TP)**:
- TP1: $1.626 (recent high).
- TP2: $1.650 (psychological resistance if momentum continues).
3. **Stop Loss (SL)**: Place SL at $1.578 (just below MA60 and recent support).
4. **Risk/Reward**: Aim for a minimum 2:1 risk/reward ratio.
#### **For Short (Sell)**
1. **Entry Point**: Enter short if the price fails to break $1.626 and shows signs of reversal (e.g., candlestick patterns like a double top or shooting star).
2. **Take Profit (TP)**:
- TP1: $1.578 (MA60).
- TP2: $1.550 (stronger support level below).
3. **Stop Loss (SL)**: Place SL above $1.626.
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### **Additional Notes**
- **Indicators to Monitor**:
- MACD: Check for a bullish or bearish crossover.
- RSI: Ensure it is not overbought (above 70) or oversold (below 30).
- **Risk Management**: Risk only 1-2% of your trading capital on this trade. #BitcoinHashRateSurge $FET