FET/USDT Analysis: VWAP, Volume, and Key Technical Indicators
$FET The FET/USDT pair has been trading in a downtrend, with recent lows around $1.190 and resistance near $1.710, aligning with the 200 SMA.
The price currently hovers near the VWAP line, suggesting market indecision. A break above the VWAP with rising volume could indicate bullish momentum, targeting the $1.710 resistance.
Conversely, a dip below the VWAP with increasing volume would signal bearish sentiment, possibly testing the $1.190 support again.
Technical indicators show the RSI at a neutral 44.31 on the 4-hour chart and 44.00 on the 1-day chart, close to oversold levels, potentially hinting at a bullish reversal.
The MACD on the 4-hour chart approaches a bullish crossover, while the daily chart shows narrowing negative momentum.
A bullish scenario would be confirmed by a break above $1.341 (200 SMA on the 4-hour chart) and a confirmed MACD bullish crossover.
A bearish scenario could unfold if the price fails to break above $1.341, leading to a potential retest of $1.190 or even lower to $1.100 if RSI and MACD indicators turn more bearish.
#Fetusdt #ETH_ETFs_Trading_Today #Bitcoin_Coneference_2024 #BinanceTurns7 #6thTrade Disclaimer: This analysis is based on current market conditions and technical indicators. Market conditions can change rapidly, and this analysis should not be taken as financial advice. Always conduct your own research before making investment decisions.