This chart represents the FET/USDT pair on Binance with the time frame adjusted to 1 week (1wk). Below is a detailed analysis:

Overall Trend

• Long-term Trend: The 99-week moving average (purple line) is sloping upwards, suggesting a long-term uptrend.

• Short-term Trend: The 7-week moving average (yellow line) and 25-week moving average (pink line) show that the asset is in consolidation after a decline from its previous high (3,480 USDT).

Support and Resistance

• Nearest support: 1,215 USDT, the low of the last 24 hours.

• Important resistance: 2,429 USDT, a recently tested zone.

Volume

• Recent volume shows increased volatility, which could indicate stronger moves in the short term.

Relevant Indicators

1. Moving Averages:

• The current price (1,265 USDT) is below the 7-week and 25-week moving averages, indicating possible selling pressure.

2. Volume (VOL):

• Trading volume has increased compared to previous weeks, which may indicate a possible reversal or continuation of the trend.

Possible Strategies

1. Entry on support:

• Buy at 1,215 USDT, as long as support holds and buying volume increases.

2. Entry on breakout:

• Buy after the resistance at 1,352 USDT is broken, especially if volume increases at this point.

3. Medium-term targets:

• First target: 1,600 USDT (yellow line).

• Second target: 2,429 USDT (previous resistance line).

4. Stop Loss:

• Next stop: 1,150 USDT

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