$FET analyze the FET/USDT chart and discuss potential entry, stop-loss, and profit target levels.
Technical Analysis:
Entry Price:
Conservative Entry: Wait for a clear bullish reversal signal like a higher high and higher low formation or a bullish engulfing candle. You could also consider entering on a pullback to the 1.70 level.
Aggressive Entry: Enter at the current price of 1.722, assuming the bullish trend continues.
Stop-Loss:
Conservative Stop-Loss: Place the stop-loss below the recent swing low (around 1.689) to limit potential losses.
Aggressive Stop-Loss: Place the stop-loss slightly below the entry price (e.g., 1.710).
Profit Targets:
Short-Term Target: Aim for a profit target of 5-10% from your entry price. This could be around 1.80 - 1.89.
Intermediate-Term Target: Consider a target near the 1.76 level, which represents a significant resistance level.
Long-Term Target: If the overall market sentiment remains bullish, you could set a longer-term target near the 1.85 level.
Key Levels:
Resistance: 1.76, 1.85
Support: 1.70, 1.689