FET daily resistance level has already been effectively broken through. The previous downward trend's internal structure is intact. Currently, it is consolidating near the two-day moving average resistance (setting up a new 30-minute mid-range). Based on the pattern structure and my own trading experience, the two-day moving average resistance is not considered an effective reference. I expect effective resistance around the 3-day moving average at 0.3724 and the 5-day moving average at 0.4598. The take-profit levels are already clear. I will start to buy in batches within the 0.256-0.26 range, leaving room for additional positions. After adding positions, I will set stop-losses based on smaller time frame trends. If there is no opportunity to add positions, then I will consider adding on the right side with the 2 or 3 buy signals on the 5-minute chart.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Spot Mid-Term Opportunities
FET daily resistance level has already been effectively broken through. The previous downward trend's internal structure is intact. Currently, it is consolidating near the two-day moving average resistance (setting up a new 30-minute mid-range).
Based on the pattern structure and my own trading experience, the two-day moving average resistance is not considered an effective reference. I expect effective resistance around the 3-day moving average at 0.3724 and the 5-day moving average at 0.4598. The take-profit levels are already clear. I will start to buy in batches within the 0.256-0.26 range, leaving room for additional positions.
After adding positions, I will set stop-losses based on smaller time frame trends. If there is no opportunity to add positions, then I will consider adding on the right side with the 2 or 3 buy signals on the 5-minute chart.