The Macro Picture 🗺️
FET has been carving a descending structure since the $0.29 structural peak in early June, printing a clean sequence of lower highs and lower lows. Every rally has been sold into — this is a market defined by supply, where each bounce becomes fuel for the next flush. Price now sits pinned at $0.162, hovering directly above the $0.15 macro floor. This is the kind of compression that desperately needs to be tested: the longer price grinds against support, the more liquidity pools just beneath it, and that pocket rarely goes untouched.
The Setup ⚙️
The Ceiling: The $0.19 shelf is the line in the sand. This former support has flipped into resistance, and the bears are defending it aggressively — as marked by the red projection, every push toward $0.19 has been rejected.
The Reaction: The zone between $0.19 and $0.24 is a thick supply block. Price would need to reclaim this entire band to shift the structure, and momentum — with RSI grinding below the midline near 38 — offers no support for that case yet.
The Trigger: A liquidity sweep below $0.155 would clear out over-leveraged longs stacked at the lows and open the path of least resistance toward the $0.15 macro support.
The Roadmap: Primary target sits at $0.15 — the green roadmap points there as the natural draw on liquidity below the range. Invalidation: a sustained 4H close back above $0.19 would invalidate this bearish thesis and signal a structural reset in favor of the bulls.
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