FET Technical Analysis Jan 29

Short-term outlook for FET today under pressure; 0.2184 support critical, BTC correlation could trigger downside.

Short-Term Market Outlook

FET is trading at the 0.22 level and showing weak performance with a %1.69 decline over the last 24 hours. Intraday range stayed in the 0.22-0.24 band, volume at 51.29 million dollars moderate. Short-term trend is downward; price continues to stay below EMA20 (0.23), strengthening the bearish signal. RSI at 43 in neutral-bearish territory, no oversold conditions but momentum weak. MACD histogram positive but overall bars negative, Supertrend bearish and pointing to 0.24 resistance. Low volatility expected over the next 24-48 hours, but BTC’s downtrend could pressure altcoins. In MTF context, 8 strong levels across 1D/3D/1W timeframes: 1 support/2 resistances on 1D, 1 support on 3D, 2 supports/3 resistances on 1W. These levels should be monitored for short-term scalp and swing opportunities, but tight stop-loss mandatory in this high-risk environment. News flow calm, so technical levels will remain in focus. For active traders, intraday focus: high breakdown risk below 0.2184.

Intraday Critical Levels

Near Support Zones

Most critical near support at 0.2184 (score: 83/100), a strong zone that could hold on 1-hour/4-hour timeframes. Second level around 0.2150 (near previous lows), quick slide to 0.2120 possible on breakdown. These supports ideal for intraday scalps; holding above 0.2184 key for positive momentum. Invalidation: close below 0.2184 accelerates downtrend.

Near Resistance Zones

Strong resistance lacking (no score >=60), but Supertrend-sourced 0.24 first target. EMA20 at 0.23 intermediate resistance, breaking it looks tough. Second resistance at 0.2420 (previous high), volume increase required for breakout. Short-term traders watch 0.23; staying below sustains selling pressure.

Momentum and Speed Analysis

Short-term momentum bearish dominant; RSI at 43 with slowing downside speed but no recovery signal. MACD histogram shows positive divergence but overall bearish cross valid. Supertrend bearish, speed analysis shows slowdown on 4-hour – volatility may stay in %2-3 band. Volume profile key for intraday speed: low chance of upside explosion with 51M volume. Scalping zones between 0.2184-0.23; quick invalidation below 0.2180 burns longs. Risk management: position size %1-2 capital, target 1:2 RR. Cautious until momentum resets in 24-48 hour outlook.

Short-Term Scenarios

Upside Scenario

Bullish trigger: 0.23 EMA20 breakout + RSI above 50. Target 0.24 Supertrend, then 0.2535 (weak score 26). Supportive if BTC holds above 88,618. Duration: 12-24 hours. Invalidation: close below 0.2184 cancels longs. Low probability (%30), volume confirmation required. Swing traders wait for 0.23 pocket entry.

Downside Scenario

Bearish trigger: 0.2184 breakdown, target 0.2120 intermediate, then 0.1920 (score 28). Accelerates if BTC drops below 88,109. Duration: 6-24 hours. Invalidation: retake above 0.23. High probability (%60+), downtrend continuation likely. Ideal for scalp shorts on 0.23 rejection, tight stop at 0.2320.

Bitcoin Correlation

BTC at 88,182 with -%1.11 decline in downtrend, Supertrend bearish – red flag for altcoins. FET highly correlated to BTC (%0.85+), FET tests 0.2184 if BTC breaks 88,109 support. Watch BTC resistances at 88,618/90,573; upside bounce gives FET breathing room but dominance pressure crushes alts. Key: BTC slip below 87,459 carries FET downside to 0.1920. Detailed data in FET Spot Analysis and FET Futures Analysis.

Daily Summary and Watch Points

Today’s focus for FET: 0.2184 support test, 0.23 resistance rejection. Watch: BTC 88,109/88,618, FET volume spike >60M. Scenarios clear: downside dominant, breakout required for upside. Short-term trades high risk – risk %1 capital, stick to invalidations. MTF levels decisive in 24-48 hours. Using Chief Analyst Devrim Cacal methodology: technical zones priority, levels king without news.