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<p>Analyst Crypto_Jobs TA &amp; FA has raised concerns about the ongoing correction in the <a href="https://captainaltcoin.com/why-is-fet-price-up/" target="_blank" rel="noopener noreferrer nofollow">FET token’s price</a>. According to a tweet by the crypto analyst, the price correction isn’t over yet, despite an 80% pump within just a few days.&nbsp;</p>
<p>The analyst highlights that buyers appear exhausted, leading to a downward correction in FET’s price. This analysis suggests that FET may revisit the support levels around $1.100 to $1.050 before any recovery.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24FET&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$FET</a> –<br>Price analysis: The correction isn't over yet! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c9.png" alt="📉" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c9.png" alt="📉" class="wp-smiley" style="height: 1em; max-height: 1em;"> <br><br>-The price made an 80% pump in a few days! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a0.png" alt="⚠" class="wp-smiley" style="height: 1em; max-height: 1em;"><br>-Buyers are exhausted at the moment and many are booking their profits! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a0.png" alt="⚠" class="wp-smiley" style="height: 1em; max-height: 1em;"><br>-The price is stuck in the downward correction<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a0.png" alt="⚠" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>I also see a possible H&amp;S pattern! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c9.png" alt="📉" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Looking… <a href="https://t.co/e3I5tJV2Hf" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/e3I5tJV2Hf</a></p>— <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9d9.png" alt="🧙" class="wp-smiley" style="height: 1em; max-height: 1em;"> Crypto_Jobs <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9d9-200d-2642-fe0f.png" alt="🧙‍♂️" class="wp-smiley" style="height: 1em; max-height: 1em;"> TA &amp; FA <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f3af.png" alt="🎯" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@CryptoJobs3) <a href="https://twitter.com/CryptoJobs3/status/1829190293729497148?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 29, 2024</a>
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<h2 class="wp-block-heading" id="strong-buyers-exhaustion-and-downward-correction-strong"><strong>Buyers’ Exhaustion and Downward Correction</strong></h2>
<p>Crypto_Jobs TA &amp; FA’s observation emphasizes that the sharp price increase in FET has caused many investors to book profits, leaving the market in a state of exhaustion.&nbsp;</p>
<p>Consequently, the price is now experiencing a downward correction. The tweet mentions a potential Head and Shoulders (H&amp;S) pattern forming on the H4 – daily charts, which could signal further downside before the price stabilizes.</p>
<h2 class="wp-block-heading" id="strong-key-support-levels-and-future-projections-strong"><strong>Key Support Levels and Future Projections</strong></h2>
<p>The analyst also points out critical support levels at $1.100 to $1.050, which could act as a base for FET’s next move. The tweet advises caution for potential buyers, suggesting that it may be wise to wait until the price breaks back into the $1.300 zone before considering new purchases.&nbsp;</p>
<p>Additionally, the tweet hints at a possible price rally toward $1.800 after the current correction phase concludes, but only if the support levels hold and the market regains momentum.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/meme-coin-prices-crash-floki-dogs-and-popcat-plunge/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Meme Coin Prices Crash – FLOKI, DOGS, and POPCAT Plunge</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-market-dynamics-and-risk-considerations-strong"><strong>Market Dynamics and Risk Considerations</strong></h2>
<p>Crypto_Jobs TA &amp; FA reminds investors that the flow of money between different cryptocurrencies can significantly impact <a href="https://www.coingecko.com/en/coins/artificial-superintelligence-alliance" target="_blank" rel="noopener noreferrer nofollow">FET’s price movements</a>. Hence, understanding these dynamics is crucial for making informed decisions.&nbsp;</p>
<p>While the current correction might seem daunting, the potential for a future rally remains if the market conditions align.</p>
<p><em><strong>Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
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<p>The post <a href="https://captainaltcoin.com/why-fet-price-correction-might-not-be-over/" rel="noopener noreferrer nofollow">Why FET Price Correction Might Not Be Over</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why FET Price Correction Might Not Be Over

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