🚨 $FET Hitting Hard Resistance - Sharp Top-Fishing Short Setup! 📉
Plan trade: Short 🔴
Entry Zone: $0.258 - $0.264
Take Profit:
🎯 TP1: $0.248
🎯 TP2: $0.243
🎯 TP3: $0.235
Stop Loss: $0.269
🔥 Technical Analysis:
On the H1 chart, $FET surged (+9%) to test the $0.268 resistance but was immediately rejected, leaving a long upper wick. This is a classic price rejection signal at the supply zone. The price is extended from the EMA(25), creating pressure for a technical correction to "cool off." RSI hit overbought levels and is turning down, supporting a short-term bearish scenario targeting the $0.24x region.
⚠️ Stop Loss Rationale:
The $0.269 level is just above the recent wick high. A breakout above this level would signal a continuation of the strong uptrend to new highs.
FETUSDT
Perp
0.2393
-3.07%