Detailed technical analysis for FET/USDT parity
Support Levels:
2.0924: The lowest level seen in the last 24 hours can be considered as a strong short-term support.
2.0800 - 2.1000: Psychological support levels, the price may tend to stabilize at these levels.
Resistance Levels:
2.2117: The highest level seen in the last 24 hours, a short-term resistance point.
2.1500 - 2.1800: Levels where the moving averages are located may act as short-term resistance.
Trend Analysis:
Short-Term Trend: It is observed that the price is in a downward trend. The current price is at 2.1167 and this level may act as a short-term resistance.
Medium Term Trend: The price has been in a downward trend recently. The 15-minute chart is constantly making lower highs and lower lows.
Technical Indicators:
RSI (Relative Strength Index):
46.5010: The RSI value is below the 50 level, indicating that the market is under slight selling pressure.
MACD (Moving Average Convergence Divergence):
MACD Line: -0.0037
Signal Line: -0.0039
The MACD line and the signal line are in the negative territory and moving close to each other, indicating a weak downtrend.
Moving Averages (MA):
MA(1): 2.1167: A very short-term indicator, just above the price.
MA(2): 2.1165
MA(3): 2.1159
MA(4): 2.1165
MA(7): 2.1165
MA(20): 2.1204
MA(50): 2.1286: The fact that the price is moving below these levels supports the short-term downtrend.
OBV (On-Balance Volume):
OBV: -90.735.730,0000: The OBV value is decreasing, which supports the downtrend.
Strategy and Suggestions:
Long Positions:
Buying at Support Levels: A long position can be opened if the price retreats to 2.0924 or a support level close to this level.
RSI Entering the Oversold Zone: When the RSI value falls below 30, a buying opportunity can be evaluated.
Short Positions:
Not recommended or wait and see.
