FET/USDT Technical Analysis: Support Holding, Eyes on Key Resistance
$FET

Moving Average (MA 200):

The price is currently trading slightly below the 200 SMA at $1.498, indicating some downward pressure. For a clear bullish momentum to resume, the price would need to break above this moving average. The 200 SMA may now act as resistance, and a sustained move above this level could indicate further bullish

action.

VWAP:

The VWAP is currently at $1.419, and the price is trading slightly above this level. This suggests a short-term bullish sentiment. If the price can sustain above the VWAP, it may reinforce a bullish bias for the upcoming sessions.

RSI:

The RSI is at 59.00, which leans slightly towards bullish momentum but remains in a neutral zone. The RSI has room to move higher before reaching the overbought threshold (70), suggesting there is still potential for upward movement before a pullback occurs.

MACD:

The MACD shows a slight bullish crossover, with the MACD line at 0.007 and the signal line at 0.002. Although the momentum is currently moderate, this crossover suggests the possibility of building bullish momentum in the coming sessions.

Bullish Scenario:

If the price can break above the 200 SMA and sustain momentum above $1.500, we could see further gains toward the next key resistance at around $1.650. Continued buying pressure and a bullish MACD crossover would further validate this outlook.

Bearish Scenario:

If the price fails to break above the 200 SMA and VWAP support at $1.419 is lost, we could see downside pressure, with the next key support level around $1.300. A weakening RSI and a potential bearish crossover in the MACD would confirm this risk.

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always perform your own research and consult a financial advisor before making any investment decisions.