FET/USDT is showing signs of a potential breakout as it edges closer to a significant trendline resistance š. The price has been consolidating within a tight range, indicating a buildup of momentum š„. A confirmed breakout could lead to a strong upward rally. Keep this pair on your watchlist for critical signals.
Key insights:
1. Testing resistance: FET/USDT is approaching a trendline that has previously held as resistance. Breaking above this level could trigger a sharp move higher š.
2. Volume surge: Watch for increased trading volume during the breakout to confirm strong buying pressure š„.
3. Momentum indicators: RSI and MACD are showing signs of bullish strength ā”, supporting the possibility of a breakout.
Steps to confirm the breakout:
- Wait for a confirmed 4H or daily close above the trendline resistance.
- Look for a noticeable increase in trading volume to validate the move.
- A retest of the broken trendline turning into support adds further confidence.
- Be cautious of fakeouts, such as sudden reversals or wicks above the trendline.
Potential targets post-breakout:
- Immediate resistance: [Insert level based on chart]
- Next target: [Insert level based on chart]
Risk management:
- Use a stop-loss below the trendline to protect your position.
- Stick to proper position sizing to manage your risk effectively.
This analysis is for informational purposes only. Always do your own research (DYOR) before making any trading decisions. Let me know if you'd like further refinements!
