IS $FET STILL ON A RALLY? 🤔 Here Is The Answer 👇
FET has recently seen a massive price surge, rising by 71% in just 1 week! The reason is mainly attributed at the announcement about the new global Innovation Lab in San Francisco. Basically this Lab will bring forward advancing AI technologies in the context of decentralized and autonomous systems!
- Please, Don't Forget to Cast Your VOTE! 🙏
Currently, the market sentiment looks better, with the Fear and Greed index at 55, indicating growing interest in FET. Despite the previous selling pressure, FET is still above the support S4. Recently S4 was still a resistance, so for confirmation we should wait that the monthly candle will close above. Indicators like EMA 10 (weekly), ADI10 (weekly) and MACD (weekly) are looking bullish. ADX which is used to understand the strength of a trend, suggest a moderate/strong trend (32). FET's price is currently above EMA 10 and MACD signal is rising from below. Last but not least, the monthly candle features an extended lower wick, so if it ends at its current level in 3 days, it will form a bullish hammer!
According to this situation, I'll implement the following Strategy (+ Hedge):
I'll open a long position on S4 with stop loss at $1.044. Take profit on R1 (100%). In case the volumes won't be enough and the market will go against me, I'll open a short position on previous stop loss and take profit at S3 (100%). Stop loss for short position $1.2. Mind that FET's price is still trading below the monthly EMA 10! That's a medium term strategy, so my position may stay open for weeks! Further updates will come!💪
Will FET Reach $10 Before 2025? 🤔 Let Me Know In Comments!
STAY TUNED! 🔥 & Remember, Your Support Is MASSIVELY Appreciated!👍💪 - DYOR 🙏 NFA.🤝
