$FET is currently consolidating within a symmetrical triangle pattern on the 3-day chart.

This pattern indicates indecision in the market but also suggests a potential breakout soon.

Let's break it down:

Current Market Structure.

1. Symmetrical Triangle:

Price is moving between converging trendlines, showing a balance of buying and selling pressure.

This usually leads to a strong move once the price breaks out.

2. Accumulation Phase:

The volume is decreasing as the triangle tightens, suggesting accumulation.

A breakout accompanied by increasing volume is expected to confirm the next trend direction.

Key Levels to Watch.

1. Buy Zone (Entry):

Between $0.34 - $0.40 (near the ascending support line).

Look for a bounce or bullish candlestick pattern in this range for confirmation.

2. Targets:

$1.75 (first major resistance).

$2.20 (breakout extension target).

$3.30 (long-term bullish target if momentum sustains).

3. Stop-Loss:

Place below $0.30, which is slightly under the ascending trendline and support zone.

This will protect against false breakouts.

Next Steps & Strategy.

1. Monitor Volume:

A breakout with high volume will confirm the move.

2. Wait for Confirmation:

If the price closes above the upper trendline of the triangle with strong buying pressure, it signals a bullish breakout.

A breakdown below $0.30 may indicate further downside, so wait for retests.

3. Risk Management:

Only invest what you can afford to lose. Keep risk/reward at least 1:3.

Potential Scenarios.

1. Bullish Breakout:

If the price bounces from the support and breaks out, it may quickly rally towards $1.75 and beyond.

2. Bearish Breakdown:

If it breaks below $0.30 with high selling pressure, the next support lies around $0.25.

Summary.

Buy Zone: $0.34 - $0.40

Targets: $1.75, $2.20, $3.30

Stop-Loss: $0.30

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