$FET Trading Setup
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🪓 Buy Point (BP): $1.268
🪓 Take Profit (TP): $1.35 to $1.43
🪓 Stop Loss (SL): $1.12
This setup aims to capitalize on the potential extension of the third wave, with a cautious stop loss near the current impulsive support level.
#Fetch AI has hit the target price of $1.25, but the rally isn't confirmed as a 5-wave move just yet. Currently, we're seeing a 3-wave move, which is typically corrective, but this is the strongest rally crypto has witnessed in a while. The key support zone lies between $0.75 and $0.52, with $1.12 acting as the current impulsive support level. While there's a chance the price could drop to $0.52, I think it's unlikely. To confirm a 5-wave move, we need to see the price hit at least $1.35. The third wave might extend further to $1.43 or even $1.53. After this, I anticipate a pullback, presenting a buying opportunity for traders. Typically, this pullback would reach the 38.2% retracement level, which will adjust with the price. Traders who missed buying at the larger support zone might wait for the first confirmed 5-wave move up to add a position.
