The analysis on FETUSD indicates that the asset is undergoing a corrective phase, identified as a Wave 4 pullback, following a significant rally of nearly 60% which began around December 31st. This pullback is currently holding within a defined support area between 0.249 cents and 0.281 cents. The speaker emphasizes that maintaining price action above 0.249 cents is crucial for the bullish interpretation to remain valid, allowing the current movement to be classified as a Wave 4 correction. A breach below 0.249 cents would suggest the failure of the broader upside reversal attempt and potentially lead to a retest of December lows, specifically around 15.6 to 19.4 cents. The current market structure is perceived to have completed three waves upward from the December lows, and a confirmed five-wave impulse is required to solidify a sustained bullish trend. If the 0.249-cent support holds, the expectation is for one more high, completing a five-wave impulsive move, followed by a Wave 2 pullback forming a higher low, which would then confirm a continued bullish trajectory. However, the analysis notes the historical tendency of crypto assets to not always hold Wave 4 support, particularly after extended third waves, highlighting the necessity for structural confirmation beyond mere price increases. Next immediate support levels are identified at 26.3 cents and 24.9 cents.