The analysis focuses on FET/USDT on a one-hour timeframe, noting persistent downside pressure. It suggests the blue wave two may have topped. The analyst mentions the removal of a broader B-wave scenario due to its decreasing likelihood. The key level to watch is around 27.5 cents; failure to break above this indicates continued bearish momentum. The market is expected to follow a five-wave pattern downwards. A break above 27.5 cents would invalidate the bearish structure, with the potential for continued downside towards a target of 0.130.