Technical analysis by QJEEE about Symbol FET: Buy recommendation (11/6/2024)

Hello, traders!With election leaning heavily towards Trump, BTC on its new ATH, and possible rate cut this Thursday, we see crypto market on a bull run.In FETUSDT chart, we also FET breaking through the resistance line of the 7 months downtrend.FET(Fetch.AI now known as Artificial Superintelligence Alliance) has been in a constant downtrend since March with ATH being 3.4917USDT on 28th. We see the price respecting this months old resistance line except it decided not to today. This is due to a big excitement around the estimated election results. I was waiting for the breakout but it came earlier than I expected. If we confirm the breakout, we might see a new trend for FET, just like DOGE last month: