Technical analysis by karaco2022 about Symbol FET: Buy recommendation (5/6/2025)

FET/USDT – Daily Technical AnalysisOn the daily chart, FET has key weekly support at $0.340 and weekly resistance at $2.00. After a strong upward move, the price has now reached the top of its descending trendline, which may lead to a potential short-term correction.This correction could extend down to the daily support level at $0.50, which is around 20% below the current price.However, if the price manages to break above the daily resistance at $0.80, it would signal bullish continuation, with a short-term target at $1.00.🟢 Support Levels:$0.50 (daily support – potential correction target)$0.340 (weekly support – major long-term level)🔴 Resistance Levels:$0.80 (daily resistance – key breakout level)$1.00 (initial bullish target after breakout)$2.00 (weekly resistance – major long-term barrier)It reached its resistance level at 0.800 and a correction is possible.