The analysis focuses on FET/USD on the 4-hour timeframe. The analyst observes an 87% increase in the last 24 hours and a 63% increase over the last 7 days. He notes that caution is warranted. Previously, the analyst discussed the possibility of a 'B wave' formation around October 10th, which is part of the analysis. A potential C wave rally is hinted. The larger degree support has been tested. Currently, the analyst is tracking a bullish scenario, noting the absence of significant downward impulse. The analyst suggests that a breakout above $0.50 would serve as a bullish signal. For confirmation, the analyst is looking to see a clear five-wave move up. Short-term support is at $0.314.