$FET

🚀 Trend Analysis

The FET/USDT chart on the 4-hour timeframe shows a strong upward trend recently. After consolidating between $1.05 and $1.30 for some time, the price has broken out past resistance levels and reached a high of $1.75.

•Higher highs and higher lows signal bullish momentum. 📈

•Current price: $1.618, with a notable pullback after the peak at $1.753.

🔍 Key Support and Resistance Levels

•Support Zones:

•$1.30 (previous resistance turned support) 🟢

•$1.05 (major support zone at previous low) 🛡️

•Resistance Levels:

•$1.75 (recent high, acting as strong resistance) 🔴

•$1.80 (potential next target if momentum continues) 🎯

📊 Indicators Overview

•RSI (Relative Strength Index):

•Likely above 70, indicating overbought conditions 🛑. Could suggest a short-term correction.

•Bollinger Bands:

•Price likely trading near the upper band, showing strong volatility and potential for pullback 🌊.

•Volume:

High trading volume accompanies this breakout, signaling strong interest 💥.

🔄 Potential Scenarios

•Bullish Case:

•A retest of $1.75, followed by a breakout toward $1.80+ 🚀.

•If support holds at $1.54, buyers could regain control and push the price higher. 📈

•Bearish Case:

•Failure to maintain above $1.54 could see the price retesting $1.30 for support. ⚠️

•A break below $1.30 would open the door to lower levels like $1.05. ❗

🛠️ Strategy Suggestions

•Short-term traders: Look for opportunities at the $1.54 support or breakout above $1.75 for quick gains. 💼

•Long-term holders: Accumulate on dips to strong support levels like $1.30. 🏦

Caution: Keep an eye on the RSI for signs of a potential cooldown. 📉