- 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 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.
FET Monthly Chart Puts the $6 Scenario to the Test
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?
As 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.
Starting With a Reclamation of $0.3 Target
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?
Meanwhile, 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.
