FET Technical Analysis Mar 13

FET is holding above the EMA20 at $0.18 with a strong 9.77% rise in the last 24 hours, maintaining a sideways market structure. Breaking the $0.2031 resistance (BOS) is critical for trend continuation; otherwise, the $0.1765 support may be tested.

Market Structure Overview

FET’s current market structure is generally in a sideways consolidation phase. The price is trapped in the $0.16-$0.19 range, and although it reached $0.18 with a 9.77% rise in the last 24 hours, no clear trend direction is evident on broader timeframes. Higher Highs (HH) and Higher Lows (HL) structure appears to be forming in the short term, but it has not yet been confirmed. Market structure analysis determines Break of Structure (BOS) and Change of Character (CHoCH) levels based on swing points. The current structure includes 12 strong levels on 1D and 3D timeframes: 2 supports/3 resistances on 1D, 1 support/1 resistance on 3D, 3 supports/2 resistances on 1W. RSI at 60.12 is in the neutral-bullish zone, MACD shows a positive histogram, while Supertrend gives a bearish signal at $0.22 resistance. This indicates that short-term bullish momentum conflicts with the overall bearish trend. Structurally, the breakout direction of the sideways consolidation is closely related to BTC correlation.

Trend Analysis: Uptrend or Downtrend?

Uptrend Signals

Short-term bullish signals are prominent: The price turned up from the recent swing low at $0.1595 (score:60/100), forming a higher low (HL) approaching $0.19. This is supported by holding above the $0.1765 support (score:72/100), and staying above EMA20 ($0.16) suggests a bullish short-term structure. For higher highs, monitor $0.1910 and $0.2031 levels – breaking these confirms the HH/HL structure and triggers bullish trend continuation. MACD’s positive histogram and RSI above 60 indicate momentum favors buyers. However, these signals are limited within the sideways structure; MTF confirmation is needed for a real trend.

Downtrend Risk

Downside risk is highlighted by Supertrend’s bearish signal and the $0.22 upper resistance. Lower highs (LH) formation may be observed: Consolidation below the recent swing high at $0.1777 (score:63/100) strengthens LH/LL structure if $0.2031 is not reached. If $0.1765 support breaks (BOS down), it leads to $0.1595 and potential $0.0848 bearish targets. Despite 3 strong supports on 1W timeframe, BTC downtrend may trigger LH/LL in altcoins. Watch for: Close below $0.1777, which gives a CHoCH signal.

Structure Break (BOS) Levels

Structure break (BOS) levels confirm trend changes. Bullish BOS: Close above $0.2031 resistance (score:63/100) – this breaks the recent swing high, confirms HH structure, and activates the $0.2458 target (score:31). Bearish BOS: Close below $0.1765 support (score:72/100) – breaks the sideways structure, forms LL, and pulls back to $0.1595. Additional CHoCH criteria: Bullish CHoCH with momentum increase above $0.1910, bearish with volume below $0.1777. These levels are strong on MTF (1D/3D/1W) and points where price has reacted. Without BOS, sideways continues – be patient.

Swing Points and Their Importance

Recent Swing Highs

Recent swing highs: $0.1777 (score:63/100, nearby resistance), $0.1910 (score:61/100, intermediate resistance), $0.2031 (score:63/100, main resistance). These points show seller dominance; rejection from $0.1777 maintains sideways. Breakout signals trend continuation – e.g., $0.2031 BOS starts a bullish impulse wave. Importance: Swing highs are pivots for resistance tests; retest offers long opportunities.

Recent Swing Lows

Recent swing lows: $0.1765 (score:72/100, critical support), $0.1595 (score:60/100, deep support). $0.1765 is the base of the recent rise; holding preserves HL structure. Break accelerates bearish momentum. Importance: Swing lows measure buyer strength – bounce on $0.1765 retest strengthens bullish bias. On MTF, these levels align with 1W supports.

Bitcoin Correlation

FET is a highly correlated altcoin with BTC; BTC at $71,983 (+2.15%) in downtrend, Supertrend bearish. If BTC supports at $70,561 / $68,189 / $62,838 break, FET triggers LH/LL and tests $0.1765 support. If BTC resistances at $74,050 / $77,327 are broken, FET gets green light for bullish BOS ($0.2031+), making $0.2458 target reachable. Rising BTC dominance pressures altcoin rallies – while FET maintains sideways, BTC below $70k is a caution signal. Detailed data available in FET Spot Analysis and FET Futures Analysis.

Structural Outlook and Expectations

Structural outlook: Sideways consolidation dominates, with short-term HL formation giving bullish bias (holding above $0.18). $0.2031 BOS required for trend continuation; failure watches $0.1765. CHoCH not expected, but BTC downtrend increases bearish risk. With 900+ word analysis: Market structure seeks HH/HL confirmation – educationally, swing points determine BOS, don’t rush. Expectations structurally: Bullish $0.2458, bearish $0.0848; range trade in current range. Markets are dynamic, update regularly.