đ€đ„$FET
FET/USDT shows upward breakout from a descending wedge pattern, typically a bullish reversal signal. The price has surpassed both the trendline resistance and the 200-day moving average, signaling potential strength in the medium term.
đTrend Analysis:
Support Levels: The previous resistance (around $1.40) now acts as a key support level. If the price pulls back, this level could offer a good buying opportunity.
Key Resistance Levels: Around $1.90 and $2.50 are critical resistance areas. If the price breaks these levels, further upside is likely.
#Fetch_ai Showing bullish strength
đ„¶Optimal Entry Point:
Given the breakout, an optimal entry point could be on a retest of support around $1.40â$1.55. Waiting for confirmation of the support hold could minimize risk.
đ„Fear & Greed Index:
As of September 25, 2024, the Fear and Greed Index is at 25-49, indicating fear in the market. However, this can offer opportunities as prices might be undervalued during fearâ
đVolume & Open Interest:
The recent rise in volume confirms the breakout, which is supported by the surge in open interest (OI) on FET futures. This suggests that new participants are entering long positions, strengthening the uptrendâ.
