Trading Signal for $FET /USDT on Binance (1-Hour Chart)

Price: 1.301 USDT

24H Low: 1.250 USDT

24H High: 1.489 USDT

Change: -11.07%

Technical Analysis:

1. Moving Averages (MA):

- MA(7): 1.344 (Short-Term)

- MA(25): 1.404 (Medium-Term)

- MA(99): 1.609 (Long-Term)

Price is currently trading below all these key moving averages, indicating a strong bearish trend.

2. Support Level:

- 1.250 USDT (Recent low; tested and held)

3. Resistance Levels:

- 1.344 USDT (MA 7)

- 1.404 USDT (MA 25)

4. Volume:

- Increased volume spike after hitting 1.250 USDT, suggesting potential for a short-term bounce or a breakdown retest.

Short Entry Signal:

- Entry Point: 1.301 USDT or after a rejection near 1.344 USDT (MA 7).

- Target: 1.250 USDT (support level)

- Stop Loss: 1.355 USDT (above MA 7)

Long Entry Signal (Cautious Rebound Play):

- Entry Point: Near 1.250 USDT (if support holds)

- Target: 1.344 USDT (MA 7)

- Stop Loss: 1.220 USDT (below recent low)

Overall Bias:

Bearish trend on the 1-hour chart with downward momentum prevailing. Watch for price action at key levels for confirmation.

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