đđThis Altcoin Performance on Investors' Radar: Bullish Signals Arrived! đđ
Analysis reveals that FET has attracted the attention of the crypto world with its impressive performance in the recent period. FET confirmed the bullish breakout from the inverse head and shoulders price action pattern.
FET Technical Analysis and Target Levels
According to experts, the altcoin is moving steadily towards the next resistance level of $ 2. Currently trading above the 200 Exponential Moving Average (EMA) on the daily time frame, it signals an uptrend. Thanks to this formation, the altcoin price is likely to increase by 22% in the coming days and reach $ 2 and perhaps even higher levels.
However, before reaching $ 2, there may be a small price correction in the coming days or the breakout level may need to be retested. This is of critical importance for the upcoming upward rally. The bullish outlook is also supported by on-chain measurements. Coinglassâs FET long/short ratio currently stands at 1.041, indicating positive market sentiment among traders. It also shows that future open interest has increased by 20% in the last 24 hours and has been rising continuously since September 2024.
At the time of writing, the altcoin was trading at $1.61. Furthermore, while there was a price increase of over 7% in the last 24 hours, it was observed that the trading volume decreased by 20% in the same period, indicating a decrease in trader participation.
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