The $FET /USDT chart shows a bullish trend, with the price climbing from a low of $1.237 to a high of $1.627 within the 4-hour timeframe, marking a 3.23% increase. This sharp upward movement reflects strong buying momentum, pushing the price higher through multiple resistance levels. Currently, the price has retraced slightly to $1.598, indicating some profit-taking after reaching the recent peak, but the overall sentiment remains bullish.

The key resistance to watch is $1.627, which is the recent high. If the price breaks above this level with strong buying volume, it could lead to further gains, pushing FET/USDT to new highs. On the downside, the nearest support level is around $1.504. If the price pulls back to this level, it could act as a base for buyers to re-enter and continue the upward momentum.

For traders looking to enter long positions, waiting for a confirmed breakout above $1.627 could offer a good entry point. Alternatively, entering on a pullback near $1.504 may provide a safer entry with a better risk/reward ratio. In either case, placing stop-losses below key support levels is important to mitigate the downside risk, particularly in a volatile market.

Overall, the current trend favors the bulls, but traders should be cautious of short-term corrections or retracements. As long as the price stays above key support levels, the bullish momentum is likely to continue.

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