FET - Bulls Preparing for a Comeback?FET has completed a clean correction after its previous strong impulse move, retracing all the way back into the support zone around 0.23–0.28, which has been acting as a key demand area for weeks.
Price bounced from that zone and is now attempting to reclaim structure, signaling that buyers might be preparing to take control again.
For now, the market structure is simple:
Impulse upward ➝ Correction ➝ Potential new impulse.
If the bulls manage to hold above the orange zone and break the descending correction trendline, the next impulsive leg toward 0.50 becomes the most likely scenario.
However, if FET breaks back below 0.23, the bullish setup would fail and deeper downside would be expected.
We are now at the stage where the market decides whether the bulls fully take over… or if this bounce is just a pause before another dip. 🤔
⚠️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.
📚 Stick to your trading plan regarding entries, risk, and management.
Good luck! 🍀
All Strategies Are Good; If Managed Properly!
~Richard Nasr.
