FET/USDT Testing Fibonacci – Bounce Incoming or Breakdown Ahead?

📊 Technical Analysis Overview:

FET/USDT is currently testing a strong demand zone aligned with the Fibonacci Retracement 0.5 – 0.618 levels, specifically between $0.648 and $0.584. This “golden pocket” area is historically significant and often acts as a pivot zone for price reversals.

🔍 Chart Pattern:

The price formed a series of higher highs and higher lows from March to June, indicating a bullish structure.

Since July, momentum has weakened, and the price has corrected back into the key support zone that previously acted as a base for a rally.

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📈 Bullish Scenario:

If price holds above $0.584 and forms a reversal candlestick (e.g., bullish engulfing or hammer), a strong rebound is likely.

Key upside targets:

$0.818 (minor resistance)

$0.904 (psychological level)

Potential breakout toward $1.225 if bullish volume returns.



📉 Bearish Scenario:

A decisive breakdown below $0.584 with high volume could trigger further downside toward:

$0.42 – $0.345 (next major support zone)


This move could confirm a bearish continuation pattern such as a descending triangle if resistance continues to hold.

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🎯 Strategic Outlook:

The current zone is a make-or-break level, and the market is at a decision point. Traders should wait for a clear confirmation through price action and volume before committing to directional trades.

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