FET Technical Analysis Feb 22

FET’s RSI at 37.57 level is giving signals of weakening downside momentum, MACD with positive histogram indicates recovery potential. Although short-term bearish trend dominates below EMA20, declining volume is limiting oversold pressure.

Trend Status and Momentum Analysis

FET is currently trading at 0.16 dollars and has squeezed into a daily range of 0.16-0.17 dollars with a 3.62% drop in the last 24 hours. The overall trend direction continues downward, Supertrend indicator gives bearish signal, and 0.20 dollar resistance forms a strong barrier. From a momentum perspective, there are mixed signals: RSI is braking the decline, while MACD histogram shows a tendency to expand in the positive region. Volume is at low levels of 14.88 million dollars, indicating weakening selling pressure and potential base formation. In the EMA ribbon, short-term lines are sloping downward, but medium-term EMAs are seeking support in the 0.17-0.18 band. This configuration shows that although momentum is negative in the short term, oversold conditions are approaching, and the ground is being prepared for a potential reaction buy. In the general market, Bitcoin’s downtrend is pressuring altcoins, but confluence in FET’s momentum oscillators increases the likelihood of a local recovery.

RSI Indicator: Buy or Sell?

RSI Divergence Analysis

RSI (14) is currently at 37.57 level and below the neutral zone, trending toward oversold (below 30). No regular bearish divergence is observed on the daily chart, but in the last two lows, while price made a new low, RSI rose from 32 to 37.57, forming a hidden bullish divergence. This signals that downside trend momentum is decreasing and buyers are gradually entering. Weekly RSI is flat around 45, confirming long-term trend weakening. The strength of the divergence could increase if price holds the 0.1578 support level; in case of breakdown, RSI drops to 25 and strengthens the sell signal.

Overbought/Oversold Regions

RSI at 37.57 is close to oversold but not yet triggered. Historically, FET has shown an average 15% reaction rally from RSI levels below 35. Current position indicates depleting sell momentum and is a level to watch for short-term long positions. If RSI breaks above 50, a momentum surge is expected; otherwise, drop below 30 triggers sells.

MACD Signals and Histogram Dynamics

MACD is in bullish status, above the signal line, and histogram is expanding in the positive region. In recent bars, histogram bars rose from +0.002 to +0.004, confirming momentum buildup. On the daily chart, although MACD line is below the zero line, the signal line crossover remains bullish, and histogram approaching the zero line gives recovery signal. This dynamic shows decreasing selling pressure and buyers strengthening with histogram expansion. If confirmed by volume, momentum toward 0.1788 resistance can be gained. However, Bitcoin downtrend may pressure MACD; caution if histogram narrows.

EMA Systems and Trend Strength

Short-Term EMAs

FET price is trading below EMA20 (0.17 dollars), confirming short-term bearish trend. Ribbon between EMA10 and EMA20 is squeezed, downward sloping, and ADX measuring trend strength at 25 shows weak momentum. Price return to EMA20 is critical for momentum surge; current position sustains sell signals.

Medium/Long-Term EMA Supports

EMA50 at 0.185 and EMA200 at 0.22 band form resistance, price has distanced from these lines. Medium-term ribbon is expanding downward, signaling decreasing trend strength. Position below long-term EMA200 strengthens bearish bias but contradicts bullish signals in momentum oscillators. 0.1578 support overlaps with EMA21; if held, ribbon recovery can be expected.

Bitcoin Correlation

Bitcoin at 67,550 dollars level with 0.65% drop in downtrend, Supertrend bearish. FET is highly correlated with BTC (%0.85); if BTC’s 67,535 support breaks, FET pressured toward 0.1340. BTC resistances at 68,102 and 70,680; breaking these levels creates opportunities for FET Spot Analysis and FET Futures Analysis. BTC dominance increase may trigger altcoin sells, key levels: BTC 64,511 support critical.

Momentum Outcome and Expectations

Momentum confluence is mixed: RSI divergence and MACD histogram expansion offer bullish potential, but EMA bearish and Supertrend sustains downtrend. Volume low, accumulation patterns may form. Short-term, 0.1578 support (73/100 score) must hold, breakdown leads to bearish target 0.0773 (22 score). On upside, 0.1788 (63/100) break carries to 0.2245 (25 score). 9 strong levels in MTF: 2S/1R on 1D, 1S/4R dominant on 1W. Overall outlook: reaction buy in weak momentum, dependent on BTC. Volume increase strengthens confluence.