Looks pretty, for now. No paint job or artwork mitigates the e-bike lawlessness and violence pets, pedestrians, cyclists and drivers encounter daily across NYC.
Two years ago, a neighbor’s dog lost its foot after an e-bike ran over the dog.
$FET is sitting exactly where breakout trades are born
Not after the move
Before it
The entire downtrend from the 2024 cycle high has compressed into a single descending resistance line
And now price is testing the point where that structure ends
That’s what makes this setup interesting
The downside is clearly defined
The upside isn’t
A confirmed breakout would mean the market has finally absorbed more than two years of supply from trapped holders
And when that happens, price usually moves much faster than people expect
The current structure reminds me of the classic accumulation-to-expansion transition:
Long-term support continues to hold
Volatility has collapsed
Sellers are becoming exhausted
Price is pressing against trendline resistance
Most traders wait for confirmation
The biggest moves often start before consensus arrives
If $FET can break above this descending structure
the next major magnet becomes the previous cycle highs around $3.5
From current levels, that’s a move large enough to completely change sentiment around the chart
Right now, the market sees a downtrend
I see a compression pattern running out of room