$FET

Based on the attached chart of FET/USDT on the 1H timeframe (1H), we observe that the price is undergoing a corrective downtrend and is currently trying to hold at critical support levels.
Here is the technical analysis and suggested entry points:
1. Current Technical Analysis
Trend: The price is currently trading below the exponential moving averages (EMA 25, 90, 200), indicating short-term selling pressure.
Indicators: * MACD: The negative momentum is beginning to diminish (red bars are shrinking), which may suggest an approaching reversal or a temporary rebound.
RSI: Readings range between 46 and 52, a neutral zone, indicating room for movement in either direction.
Bollinger Bands (BOLL): The price is currently bouncing off the lower band (support) at 0.2206, targeting the midline at 0.2300.
2. Proposed Trading Plan
Since the price is attempting to stabilize above the 0.2224 bottom, consider a "buy/long" (Long) position with strict stop-loss:
Entry Zone (Entry): * First entry: current price at 0.2296.
Ideal Entry (on pullback): around 0.2230 - 0.2250.
Take Profit (Targets):
First target: 0.2340 (EMA 90 level and nearby resistance).
Second target: 0.2400 (upper Bollinger Band).
Third target: 0.2480 (previous high shown on the chart).
Stop Loss (Stop Loss): Close below 0.2200 on a 1-hour candle. Breaking this level could lead to a deeper decline.