Technical Analysis and Trade Signal for FET

Current Market Situation:

- Price Action: FET is currently trading at $1.90, up 3.83% in the last 24 hours. The price is above the 24-hour low of $1.85 and approaching the 24-hour high of $2.028.

Key Levels:

Support: $1.85 - A break below this level could

indicate a potential downward trend.

Resistance: $2.03 - A break above this level

could signal further upside potential.

Momentum Indicators:

RSI: At 55, indicating neutral momentum.

MACD: Bullish crossover, suggesting upward

Price movement.

Moving Averages: 50-day MA above the 200-day MA, confirming a bullish trend.

Trade Recommendation:

Buy Signal:

- Entry Price: $1.90 - $1.92

- Stop-Loss: $1.85

- Target Levels:

- Target 1: $2.03

- Target 2: $2.10

- Target 3: $2.13

Strategy:

Entry: Buy near the current price, leveraging the bullish momentum.

Risk Management: Place a stop-loss order below the recent support level to limit potential losses.

Profit Taking: Take partial profits at Target 1 and Target 2.

Consider moving the stop-loss to breakeven after reaching Target 1 to protect gains.

Overall Outlook:

The short-term outlook for FET is bullish.

The price is showing strength and is poised to break above the resistance level.

However, it's essential to monitor market conditions and adjust the strategy accordingly.