1. Price forecast (Short-term and Medium-term)
Short-term forecast:
Current price consolidation of FET in the range of 1.30–1.38 USD with support from the 20-day EMA (1.305 USD) and 50-day EMA (1.338 USD) indicates potential for upward movement. If the price holds above these levels, there is a possibility of reaching 1.50 USD. RSI at level 54 does not signal overbought conditions, which also supports potential growth.
Medium-term forecast:
Upon breaching resistance at 1.50 USD, growth to 1.741 USD (Fibonacci level 0) is possible. If the price breaches this level, the next target is 1.94 USD (Fibonacci level -0.27). In a downward scenario, the key support will be at 1.221 USD (Fibonacci level 0.705). Breaching this level may lead to a decline to 1.004 USD (Fibonacci level 1.0).
2. Support and resistance levels
• Key support levels:
o 1.305 USD (20-day EMA level)
o 1.221 USD (level according to Fibonacci 0.705)
o 1.159 USD (level according to Fibonacci 0.79)
o 1.004 USD (level according to Fibonacci 1.0)
• Key resistance levels:
o 1.373 USD (level according to Fibonacci 0.5 and volume zone)
o 1.50 USD (important resistance level according to volumes)
o 1.741 USD (level according to Fibonacci 0)
o 1.94 USD (level according to Fibonacci -0.27)
3. Entry points, exit points, stop-loss for long position
Key options for long positions:
1. Entry point 1: Enter at 1.305 USD if the price confirms support at the 20-day EMA and holds above it.
o Exit point: 1.373 USD (nearest Fibonacci resistance level 0.5)
o Stop-loss: 1.20 USD (below the EMA level and support near 1.221 USD)
2. Entry point 2 (with clarification): Enter at 1.45 USD after breaching and stabilizing the price above 1.50 USD. If the price breaches 1.50 USD and confirms it as support (retest to the range of 1.45–1.50 USD), this will be a signal to open a long position.
o Exit point: 1.741 USD (next level according to Fibonacci 0)
o Stop-loss: 1.35 USD (if the price returns below the range of 1.45–1.50 USD)
3. Entry point 3: Enter around 1.221 USD (level according to Fibonacci 0.705), if the price bounces from this zone.
o Exit point: 1.373 USD (nearest level according to Fibonacci 0.5)
o Stop-loss: 1.10 USD (below the support level according to Fibonacci 1.004 USD)
4. Entry points, exit points, stop-loss for short position
Key options for short positions:
1. Entry point 1: At the level of 1.50 USD upon signs of downward reversal.
o Exit point: 1.305 USD (20-day EMA as nearest support)
o Stop-loss: 1.55 USD (above the resistance level)
2. Entry point 2: Enter at 1.30 USD upon a downward breach if the 20-day EMA level (1.305 USD) does not hold.
o Exit point: 1.221 USD (level according to Fibonacci 0.705)
o Stop-loss: 1.35 USD (behind the EMA 50 and EMA 100 levels)
3. Entry point 3: Enter at 1.741 USD if the price reaches this level and shows signs of reversal.
o Exit point: 1.50 USD
o Stop-loss: 1.80 USD (above Fibonacci level -0.27)
5. 🟢LONG and 🛑SHORT scenarios with probability assessment
• 🟢 Long scenario: Probability 60% – if the price can hold above the 20 and 50-day EMA, movement towards 1.50 USD and above is possible. Support at levels 1.305 and 1.338 USD (EMA) confirms growth potential.
• 🛑 Short scenario: Probability 40% – if the price does not hold above the level of 1.30 USD, a pullback to 1.221 USD and below is possible. The liquidity map shows clusters of positions, which may intensify downward pressure.
General observations
• EMA (20, 50, 100, 200): Price near the 20 and 50-day EMA creates support for short-term growth, but a downward breach may trigger a short trend.
• RSI: At level 54, indicating a balance between buyers and sellers.
• Volume profile (Horizontal): Volumes at the level of 1.30–1.50 USD show significant interest, which can act as either support or resistance.
• Liquidity map: High levels of liquidations at 1.50 USD may lead to increased volatility.
• On-chain data: More than half of holders are in profit at a price of 1.38 USD, which may trigger sales at levels of 1.50 and above.
⚠️ Overall conclusion:
#FET shows potential for growth while holding above 1.305–1.338 USD. The main resistance zone at 1.50 USD must be breached to confirm an upward trend. 🖌 Follow to not miss fresh news! ➡️✈️ @INVESTIDEAUA
