FETCH.AI(FET)/USDT.
Timeframe 4-Hours.
Signal Breakdown:
📉 Downtrend Channel: The price has been moving in a downward channel, testing lower lows within the blue channel zone.
🛑 Support Area: The price has found support around the $1.35 - $1.44 area, bouncing back from this level.
📈 Breakout: The price seems to have broken out of the downward channel, suggesting a bullish reversal.
💹 Next Key Levels:
Resistance at $1.489 – Minor resistance.
Target 1: $1.541
Target 2: $1.680
Target 3: $1.831
🟢 RSI Indicator: The RSI shows an upward momentum, moving above 57.98, indicating rising buying strength.
📊 Trading Signal:
🔼 Entry: Upon confirmation of the breakout above $1.489.
🎯 Take Profit Levels:
First target at $1.541
Second target at $1.680
Final target at $1.831
🛡️ Stop Loss: Consider placing a stop loss below the support level at $1.35.
📉 Risk Warning: Keep an eye on volume for confirmation of the breakout and be cautious of false breakouts.
This trade setup suggests a bullish opportunity as long as the price stays above $1.489!
