FET Crypto Price Action: What the 4-Hour Chart Reveals

The 4-hour chart for the FET crypto reveals a mix of bullish and bearish signals, offering insights into potential trading opportunities for both long and short positions. 

FET Crypto Price Prediction

Recent price movements have seen the FET crypto hovering around critical levels, with a notable resistance forming at $1.444. This level coincides with a previous peak, suggesting that breaking above it could propel the price toward the next resistance at $1.473. On the downside, support is observed around $1.42, with additional support near $1.383. If the FET crypto price dips below these levels, the next significant support lies at $1.365, a critical juncture that could determine the short-term trend.

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The 9 EMA is currently above the 20 EMA, indicating a bullish trend in the short term. This crossover typically suggests upward momentum, with buyers gaining control. However, the pace of this upward movement seems to be slowing down, as indicated by the flattening of the EMAs. Should the FET crypto price continue to rise, traders might look to the $1.444 resistance as a potential take-profit zone. Conversely, a failure to maintain the upward momentum could result in a test of the $1.42 support level, making it a potential entry point for long trades if the FET crypto price rebounds.

The MACD histogram has shown a series of negative values, reflecting decreasing bullish momentum. While the MACD line remains close to the signal line, the narrowing histogram suggests that the strength of the current uptrend is waning. This could lead to a potential bearish crossover if selling pressure intensifies, signaling a possible exit point for long positions or an entry point for shorts.

Meanwhile, the RSI has been trending upward, recently entering overbought territory. This indicates that the FET crypto may be overextended, and a pullback could be imminent. Traders should be cautious about entering long positions at these levels, as the RSI suggests that a correction could be on the horizon.

Possible FET Trade Strategy

For traders looking to enter long positions, a successful breakout above $1.444 could present an opportunity to ride the momentum towards $1.473. However, considering the overbought RSI, it would be prudent to set tight stop losses to manage risk. On the other hand, a rejection at the $1.444 resistance, combined with a bearish MACD crossover, might offer a shorting opportunity, targeting the support levels at $1.42 and $1.383.

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Technical indicators for the FET crypto on the 4-hour chart suggest a cautious approach. While the overall trend remains bullish, signs of weakening momentum warrant close attention. Traders should watch for key breakouts or breakdowns around the identified support and resistance levels, adjusting their strategies accordingly.

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