Eyes on #FET 👀

Currently trading at 848 sats..

#FET

Currently trading at 890 sats which is 5% profit 🚀
You can book some profits and keep it run with a trailing stop loss.

https://www.tradingview.com/x/IXf4TrME/

VIP Altcoins Updates Series

#FET

We can observe that FET has been in a range since the last ATH in March. We've mostly been accumulating between the $1.9-$2.5 zone since mid-April, so this is where our focus needs to be for now.

I've drawn two scenarios:

1. Sweep of the range lows hunting the stops placed there. In case the ALTS market goes down for some reason, this scenario will likely play out. The best entry for this scenario requires a confirmed close above the range lows, turning them into support around the $2 mark.

2. As we're accumulating in this range, EMAs will get closer to the price, making the compression tighter, which technically should give a spike to the upside. This scenario is suited for the current market situation where BTC still has the lead over ALTS. The best entry for this scenario is either a good EMA setup around current prices or if/when the price turns the mid-range into support.

https://www.tradingview.com/x/Pam930Is/

VIP Altcoins Updates Series

#FET

FET broke down sharply and didn't follow the bullish scenarios from the previous update. Currently, it looks bearish as it's below the daily trend and the 200 EMA.

A bullish play would be to wait for a reclaim of the daily trend, which could be a good opportunity for a long position with a stop loss below the last bottom or on a daily close below the trend. Primary targets for this trade are the lower range, the SMA 100, and the mid-range.

If Bitcoin weren't at a critical point, shorting FET would be a logical trade. However, due to the current uncertainty and FET's more than 50% decline, a potential reversal remains likely, especially if Bitcoin turns bullish.

Binance Futures, Bitget Futures
#FET/USDT Take-Profit target 2 ✅
Profit: 34.9743% 📈
Period: 3 Hours 7 Minutes ⏰