Altcoin FET monthly chart puts the $6 scenario to the test. Starting with a reclamation of $0.3 bull target. Will FET price dip lower before an explosive surge? The crypto market continues to
The crypto market continues to face a drop in prices as it seems the correction phase has yet to reach its end. Once again, the price of BTC dipped down to the $80,000 price range and surged back to the $81,000 price range. As a result, ETH price went from $2,500 to trading in the $2,300 price range, leading other promising altcoin assets to plunge in price as well. FET monthly chart puts the $6 scenario to the test, starting with a reclamation of $0.3.
According to CoinMarketCap analytics, the price of FET is currently trading in the $0.19 price range, showing that the asset is down by 9.5% in the last 24 hours and down by almost 15% in the last 7 days. However, on the monthly chart, the asset is still up by 23%. Has the correction destroyed any chance of realizing monthly profits, or can the asset maximise profits at the end of this month by pulling a surge beyond recovery over the coming weeks?
https://twitter.com/gandreou007/status/2110249242753380662As we can see from the post above, this expert goes on to declare that FET’s monthly chart puts the $6 scenario to the test. In particular, the post begins by stating that FET is testing the $0.16 - $0.24 support zone while the macro downtrend remains intact. A sustained breakout needs to reclaim $0.68 - $0.85 first. Above that, $1.9 - $2.2 and the $3.48 historical high become the major hurdles.
The drawn path toward $6 implies roughly +2,734% from the chart’s $0.212 price, conditional on those breakouts. Lose support, and the $0.09 region comes back into focus. Considering the current price of FET, it seems the popular altcoin may just be playing into the latter scenario. All eyes are now on the $0.16 price range, can FET price hold above this target and bounce back above it?
https://twitter.com/gandreou007/status/2109917061723951150Meanwhile, the analyst in the post above also adds to the conversation, stating that the road back to bullish targets for FET sits at $0.3. As we can see from the post above, the analyst notes that the weekly chart shows FET testing the $0.9 - $0.23 support after a prolonged downtrend. A sustained reclaim of $0.30 would strengthen the recovery setup, with $0.7939 the next major resistance.
Beyond that, Fibonacci retracements sit near $1.40, $1.80, and $2.19, closely aligning with $2.2037 macro resistance. The illustrated path toward the $3.4744 ATH represents approximately 1,461% upside from $0.2226. That scenario requires confirmed breakouts, successful retests and higher lows. If support is lost, then $ 0.12- $0.16 becomes the next zone to watch.
