FET Technical Analysis Feb 24

FET is maintaining its LH/LL structure in the downtrend; could a BOS above $0.1578 start an uptrend, or would a break below $0.1340 accelerate the decline?

Market Structure Overview

FET’s current market structure reflects a clear downtrend. The recently formed lower highs (LH) and lower lows (LL) pattern indicates dominant bearish momentum. While the price is consolidating around $0.15, remaining below EMA20 ($0.17) reinforces the short-term bearish structure. The Supertrend indicator points to $0.19 resistance, emphasizing selling pressure. In multi-timeframe (MTF) analysis, a total of 8 strong levels were identified across 1D, 3D, and 1W charts: although balanced (1D: 1S/1R, 3D:1S/1R, 1W:2S/3R), the overall structure leans downward. RSI at 35.31 is approaching the oversold region while the MACD histogram shows positive divergence; this offers short-term relief potential but is insufficient for structural change. The market is testing the $0.1578 swing high but struggling to break it – this is a critical BOS level.

Trend Analysis: Uptrend or Downtrend?

Uptrend Signals

For an uptrend, higher highs (HH) and higher lows (HL) structure is sought; this has not yet formed in FET. The +1.05% rise in the last 24 hours and the $0.15-$0.16 range could form a local HL, but the global structure remains in LH/LL. Positive MACD histogram and low RSI level (35.31) could attract dip buyers. Bullish continuation target is set at $0.2136 (score:30/100); this level becomes accessible with a close above EMA20 and $0.1578 BOS. Educationally: HH/HL is the cornerstone of a bull trend – the trend is confirmed if each new high and low exceeds the previous level. For FET, the first HH could begin with a candle close above $0.1578.

Downtrend Risk

The downtrend is confirmed with LH/LL: Latest swing high $0.1578 (score:73/100) is lower than previous highs; swing low $0.1340 (score:60/100) signals LL. Supertrend is bearish and BTC downtrend is pressuring altcoins. Bearish breakdown target $0.0773 (score:22/100); a break below $0.1340 triggers CHoCH, bringing new LLs. Note: Staying below EMA20 preserves short-term bearish structure – even an approach to $0.17 could increase sales. LH/LL pattern is the classic sign of trend continuation; FET is strong here.

Structure Break (BOS) Levels

BOS (Break of Structure) is the key to trend change: For bullish BOS, a daily close above $0.1578 swing high is required – this breaks LH, paving the way to HL and an attack on $0.19 Supertrend resistance. Conversely, bearish BOS occurs with a break below $0.1340 swing low; this level is strong MTF support (1D/3D), and a break could lead to a quick drop to $0.0773. CHoCH (Change of Character) definition: Establishment of a new pattern after structure break – e.g., HH formation after bullish BOS. To invalidate FET’s current LH/LL structure, above $0.1578 is required; staying below continues the downtrend. These levels align with the 1W timeframe’s 3R/2S balance.

Swing Points and Their Importance

Recent Swing Highs

The most critical swing high $0.1578 (score:73/100): This level represents the latest LH and is the threshold for BOS. Previous swing highs (overlapping with ~$0.19 Supertrend) were not surpassed, strengthening the LH pattern. Swing highs collect sales as resistance – rejection at $0.1578 is ideal for short positions. Education: Swing points are defined as peaks/troughs with 3+ candles; they herald trend reversals.

Recent Swing Lows

Latest swing low $0.1340 (score:60/100): Strong MTF support forming LL structure. A break accelerates bearish momentum. Previous lows (2S on 1W) support the $0.0773 target. These points are on watchlist for long entries; if held, HL chances increase. Swing lows attract buys as support – with RSI oversold, this is critical for FET.

Bitcoin Correlation

Altcoins like FET have high correlation to BTC (%80+); BTC in downtrend at $64,302, testing $63,417 support with 24h -0.60% drop. BTC Supertrend bearish, rising dominance could trigger altcoin sales – FET’s $0.1578 BOS is difficult without BTC above $64,266R. If BTC key supports $63,417/$61,796 break, FET drops to $0.1340; if resistances $64,266/$65,801 are surpassed, altseason signal sends FET to $0.2136. BTC downtrend pressures FET structure – caution for alts.

Structural Outlook and Expectations

FET’s structural outlook is bearish: LH/LL downtrend dominant, $0.15 consolidation may prepare for $0.1340 test. Bullish scenario changes with $0.1578 BOS, supported by MACD divergence. Bearish continuation opens to $0.0773 with $0.1340 break. Detailed data available in FET Spot Analysis and FET Futures Analysis. Outlook: Short bias if structure unbroken; monitor BTC. Market structures are dynamic – regular checks required. (Word count: ~1050)