The price of FET has been on an upward trend, showing a 9.30% increase in the last 24 hours, currently at $2.08.
Support Level: The recent 24h low of $1.87 serves as a strong support level, with price rebounding off it.
Resistance Level: The 24h high of $2.12 could act as short-term resistance.
A break above this level may indicate a continuation of the bullish trend.
Volume: With 132.66M FET traded in 24 hours, the volume is quite healthy, signaling that the market participants are actively involved.
Momentum: The positive price change of 9.30% indicates that the momentum is bullish.
The current depth of 2,891% further confirms strong buy-side pressure.
Trade Signals:
Entry Signal:
Buy when the price crosses above $2.12 (resistance level) with confirmation (e.g., a retest of the breakout).
Alternatively, buy at $2.00 if the price retests and holds above this level.
Target Levels (Take Profit):
Target 1: $2.30 – A logical resistance zone considering the current momentum and trend.
Target 2: $2.50 – Further continuation in the uptrend can take the price to this level.
Target 3: $2.70 – A higher target based on continued bullish momentum.
Stop-Loss:
Place stop-loss orders below the support level of $1.87, ideally around $1.85 to manage risk.
Trade Momentum:
Bullish: With an increase of 9.30%, the momentum is strongly bullish, and the market sentiment favors upward price movement.
Consolidation Phase: If the price consolidates near $2.08 to $2.12, a breakout above these
levels can fuel further buying interest.
Summary:
Buy Zone: $2.00 to $2.12
Target 1: $2.30
Target 2: $2.50
Target 3: $2.70
Stop-Loss: Below $1.85