🚨 FET/USDT Update - Hourly Technical Analysis 🚨
Key Indicators:
MA(5): 7,740,459.7
MA(10): 9,246,789.1
EMA(20): 1.457
EMA(50): 1.446
EMA(100): 1.439
EMA(200): 1.479
Volume: 3,455,036.5
🔎 Chart Pattern Analysis:
Sharp Downtrend: FET/USDT price is very bearish, with long red candles indicating a significant decline.
Head and Shoulders Potential: There is a possibility that a Head and Shoulders pattern is starting to form, which is very often a sign of a trend reversal from bullish to bearish. Be careful!
📉 Next Candlestick Prediction:
Bears Dominate: If the sale is still strong, the next candlestick will most likely be red again. However, if there is a reversal, we can see the Doji or Hammer pattern which could be a sign of a reversal.
🔧 Support and Resistance:
Support:
1.317 (24-hour low)
1.336 (current price)
Resistance:
1.424 (horizontal level)
1.548 (horizontal level)
💡 Scalping Strategy:
Buy Target:
Wait for the price to touch the support at 1.317 and see if there are any signs of a reversal (such as a bullish candlestick pattern like Hammer). The first target is at the resistance of 1.336, or higher to 1.424.
Sell Target:
If the price rises to resistance 1.424 or 1.548 and there is a rejection (eg Shooting Star pattern), it could be the right time to sell, with a sell target to support 1.336 or 1.317.
⚠️ Warning: Trading is full of risks! Always make sure to use proper risk management and consider stop-loss to protect your position from unwanted losses.
Hopefully this analysis helps you in taking advantage of opportunities in the market!