FET's price has dropped sharply since reaching $3 earlier this year. Current analysis suggests a bearish trend with a potential for further decline.
Key points:
MVRV Long/Short Difference: The negative value implies that short-term holders might take profits, hinting at a return to a bear market.
Network Growth: Declining growth indicates lower adoption and could lead to price depression.
Price Resistance: The resistance at $1.35, combined with a low RSI, suggests possible price drops.
Possible Outcomes:
The price could fall below $1 if the downtrend persists. Conversely, increased buying pressure may lead to a rebound.
Investors should be cautious as FET's price shows a bearish outlook. Careful monitoring of key indicators is advised.
