FET/USDT 4-Hour Chart Analysis: Testing Key Resistance Levels
$FET

On the 4-hour chart for #FET/USDT , the price is currently trading at 1.370, showing a strong bullish movement above the 200-period Simple Moving Average (SMA) at 1.012, indicating a continued bullish trend. The Volume-Weighted Average Price (VWAP) is positioned at 1.268, slightly below the current price, supporting the bullish sentiment. The Relative Strength Index (RSI) is at 75.01, which is in the overbought zone, suggesting potential caution as the price might face a pullback soon. Meanwhile, the Moving Average Convergence Divergence (MACD) shows a strong positive momentum with the MACD line above the signal line, further reinforcing the bullish outlook.

Bullish Scenario:
If FET/USDT maintains momentum and breaks through the next resistance at 1.456, it could aim for the higher target of 1.565. The continuation of this bullish trend is supported by strong momentum indicators.

Bearish Scenario:
However, if the price fails to break above the resistance and experiences a pullback, it could find support near the VWAP level of 1.268 or further down at the 200-SMA at 1.012. A breakdown below these levels could indicate a reversal to a bearish trend.

Disclaimer:

This analysis is for informational purposes only and does not constitute financial advice. Cryptocurrency trading involves substantial risk, and you should conduct your own research or consult a financial advisor before making any trading decisions.

#6thTrade #Marketsentimentstoday #Marketupdate #BinanceBlockchainWeek