🚨 $FET HEAVY SELLING PRESSURE – WILL IT RECOVER or LOSE MORE HERE ..

$FET has suffered a sharp decline, plummeting -15.26%, now trading at $0.511 after falling from its 24h high of $0.630.

🚨 $FET HEAVY SELLING PRESSURE – WILL IT RECOVER or LOSE MORE HERE ..

$FET has encountered substantial selling pressure, resulting in a significant price decline of -15.26%. The coin is currently trading at $0.511 after reaching a 24h high of $0.630.

As the price tests critical support near $0.504, a crucial level to prevent further decline, attention turns to the possibility of a rebound. However, if sellers manage to drive the price below this support, the next target could be a decline towards $0.400.

Conversely, if buyers intervene during this lower support zone, a potential recovery could push prices back towards the Fib retracement level of 0.382, offering resistance around $0.540. Overcoming this resistance is essential for bulls to regain control and trigger a short-term uptrend.

🆚 Key Levels to Watch:

Support: $0.504 – A decisive break below this support could open the door for another leg down in the selling pressure.

Resistance: $0.540 – Bulls need to clear this resistance for a potential recovery towards $0.630.

📌 Final Thought: FET has reached a turning point—will it rebound or break down further? Traders should closely monitor price action and react accordingly.

Final Considerations:

Always conduct your own market research before making any investment decisions. The cryptocurrency market is highly volatile and unpredictable.

This is not financial advice.

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#FET #CryptoTrading #MarketUpdate

output: A massive selloff in the crypto market has seen most major tokens decline sharply over the past 24 hours. The total cryptocurrency market cap now stands at $1.07 trillion.

The price of FET has dropped by 15.26% in the past 24 hours, now trading at $0.511. The coin had hit a 24h high of $0.630 earlier today.

After testing critical support at the $0.504 level, which could prevent a deeper decline, FET is showing signs of stabilization. However, if sellers manage to push the price lower, the next support level could be around $0.400, where the 100-EMA and Fib support converge.

On the other hand, if buyers step in to provide support in this lower zone, we could see a potential recovery towards the Fib retracement level of 0.382, which is offering resistance around $0.540. Overcoming this resistance is crucial for bulls to regain control and trigger a short-term uptrend.

A break below the $0.504 support could open the door for another leg down in the selling pressure, potentially setting a target for the price to reach the $0.400 support. However, if buyers manage to defend this lower support, we could see a potential recovery towards the $0.540 resistance.

Smart traders will be closely monitoring price action to identify any signs of a trend reversal. If sellers manage to push the price lower, the next target could be a decline towards the $0.400 support, where the 100-EMA and Fib support converge.

Those who believe in FET's recovery could intervene during this lower support zone, aiming to drive prices back towards the Fib retracement level of 0.382, which is offering resistance around $0.540. Overcoming this resistance is essential for bulls to regain control and trigger a short-term uptrend.

As the selling pressure mounts, traders will need to be extra cautious and adjust their trading strategies accordingly. Those with a long-term bullish outlook could view this selloff as an opportunity to accumulate more FET at lower prices. However, those who are more risk-averse may prefer to wait for signs of a trend reversal before entering any trades.

Ultimately, the direction of FET's next move will depend on the balance of supply and demand. If buyers manage to outbid sellers for sustained periods, we could see a return to higher prices. However, if sellers remain in control, the selling pressure could continue, setting the stage for further declines in the days to come.

In the cryptocurrency market, staying informed and making informed decisions is paramount. It's crucial to complete your own market research before making any investment commitments, considering the inherent volatility and unpredictability of the market.

This is not financial advice.

Don't forget to follow me for more cryptocurrency analysis and insights.

#FET #CryptoTrading #MarketUpdate

As always, do your own research before making any investment decisions. The cryptocurrency market is highly volatile and unpredictable.

This is not financial advice.

Don't forget to follow me for more cryptocurrency analysis and insights.