FET/USDT Distibution Phase. Need retesting to continue upward !!๐ FET has certainly captured the market's attention with its notable performance. At present, FET is experiencing consolidation within the supply zone. Typically, consolidation at higher levels can indicate a distribution phase, suggesting a potential downturn for a corrective test at the demand levels between $0.308 and $0.277.
๐ This observation comes from the fact that FET has not yet undergone a retesting phase following its breakout above the supply area. Should the asset retrace to these demand levels, a significant bounce could be anticipated, probability of FET toward the target supply zones and beyond.
๐ However, should FET revisit the demand zone without showing signs of a strong reboundโfailing to reject lower pricesโit could signal a loss of the demand area. Such a development would indicate bearish momentum for FET, opening the door for a possible descent to lower demand levels and potentially revisiting the key support area.