FET · 1H · DOWNTREND
The macro backdrop from the live headlines shows no FET-specific catalyst — just general AI stock coverage and broader market weakness with chip stocks dropping. On the chart, the structure is unambiguously bearish: price made a high near 0.2200 in mid-June, rolled over hard, bounced to 0.1900 in early July, and has since ground back down to the 0.1600 area where it's been consolidating near a horizontal dashed line that looks like a prior low or reference level. Every bounce attempt since July 7 has printed lower highs — 0.1650, then 0.1640, now grinding at 0.1603. I'm not looking for a long here — this is a downtrend printing compression near the lows, and the path of least resistance is still lower. I'm waiting for a dead-cat bounce back toward the 0.1650–0.1660 area to get short, not chasing the breakdown from this level.
SHORT SCENARIO
Confirmation
0.1650
Rejection at 0.1650 with a close back below 0.1620 confirms bearish continuation — that zone aligns with recent swing highs that have capped every recovery attempt since July 8.
Invalidation
0.1700
Structure invalidated above 0.1700 — a close there breaks the sequence of lower highs and signals a genuine reversal attempt.
Target 1
0.1550
Prior intraday lows visible on the chart around July 8–9.
Target 2
0.1500
Round number and extended structural target matching the bottom wick cluster.
Risk/Reward
(0.1650 − 0.1550) / (0.1700 − 0.1650) = 2.0:1
Resistance: 0.1650 / 0.1700
Support: 0.1550 / 0.1500
This is not financial advice. Content is AI-generated.