FETUSDT: Is a Major Breakdown Coming?
2024-10-09

Yello, Paradisers! Do you think #FETUSDT can survive the selling pressure, or is a major drop on the horizon?

💎#FET is currently trading within a rising wedge pattern, which is typically a bearish formation. While the price briefly flipped above its strong resistance levels, it quickly faced rejection on the second attempt, pushing it lower.

💎Currently, FET is struggling to reclaim the 1.50 - 1.560 resistance zone. As long as it remains below this level, the bulls will have a hard time gaining any momentum. This zone is the key battleground for FET. If the bulls manage to break through and establish control, we could see a strong push higher.

💎However, at the moment, FET is losing steam. If the bulls continue to fail to generate any significant buying pressure, FET is likely to drop further towards the ascending support level at 1.3220. While this level could offer some temporary relief, it might not be enough to change the overall bearish outlook.

💎If FET breaks below the ascending support, expect an initial drop towards the 1.23 - 1.19 zone, which is a moderate support. Failing to hold there, FET could see an even deeper decline towards the strong supports at 1.085 - 1.040.

Paradisers, it’s time to play it safe and avoid taking impulsive entries. Discipline and patience will pay off here. 

MyCryptoParadise
iFeel the success🌴