FET Struggles at $0.50 Support; Bearish Signals Indicate Move to $0.42

FET hovers around $0.50 after breaking below key moving averages, signaling a potential downside toward the next major support at $0.42-$0.43.

The -DI surpasses the +DI, confirming bearish momentum, while the ADX reading indicates sustained selling pressure in the current market.

FET is trading at $0.4858 with a 24-hour volume of $101.87 million, reflecting increased sell-offs and weakening price action.

Recent technical analysis of the FET reveals a breakdown from a bear flag pattern and increasing pressure at key support levels. The coin hovers near a horizontal support zone, which may trigger a move toward lower-price regions if breached.

Bearish Breakdown Analysis

A recent tweet from a prominent analyst, Alpha Crypto Signal, reported that FET is breaking down from a well-established bear flag pattern. The tweet noted that the coin is currently testing its local horizontal support near the $0.50 mark. For the past two weeks, FET has traded within a rising channel. The reported view indicates that a support breach may push the price toward the $0.42-$0.43 area in the coming days.

Recent price action shows FET falling below the 9 EMA at $0.526 and the 50 SMA at $0.534. These moving averages now act as resistance levels. Technical indicators suggest mounting selling pressure as the coin fails to reclaim these averages. The overall setup reflects a market scenario where a breakdown at $0.50 could lead to significant declines. Market participants may consider a short position should the key support not hold.

Support Levels Under Pressure

FET’s price is actively testing the critical support zone around $0.50. Historical observations indicate that buyers previously stepped in at this level. However, current market conditions reveal a weakening defense at this support zone. Traders continue to watch this level closely, as a failure to maintain support may drive FET to the $0.42-$0.43 region.

The breakdown below of both the 9 EMA and 50 SMA further compounds the bearish outlook. This decline has created a situation where resistance becomes more evident, and selling pressure increases. Price behavior in this zone demands caution from market participants. A failure to defend the $0.50 support could signal a shift toward a more persistent downtrend.

Momentum and Trend Confirmation

Momentum indicators reinforce the bearish scenario observed in FET’s price movement. The Directional Movement Index (DMI) readings show the -DI at 24.93, exceeding the +DI at 16.68. An ADX of 23.76 confirms that the current trend is moderate but favors a bearish environment. These indicators collectively underscore the potential for further price deterioration.

Source: TradingVIew

The Stochastic RSI presents readings of 42.85 for the blue line and 66.30 for the orange line. These values place the market in a neutral zone without overbought or oversold conditions. However, the lower blue line supports a view of sustained selling pressure.

During this writing, FET displayed a market price of $0.4858 while reaching a total trading volume of around $101,878,020 within the past 24 hours. The present market sentiment is demonstrated through increased selling pressure that leads to changes in price level.

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