FET 8H – Breakdown Below Trendline Into New LowsFetch.AI / TetherUSBINANCE:FETUSDTBKVIPFET on the 8H timeframe is currently trading around 0.1954 after breaking below the descending trendline support near 0.1610–0.1630 in early July and pushing into fresh lows near 0.1525, with price now attempting a minor recovery back toward the broken trendline from below. The chart shows a descending trendline originating from the mid-May high near 0.1880, connecting through the June 25 low near 0.1610 and extending across the entire visible structure as the key dynamic support floor. Price respected this trendline from below across June, with the June 25 touch and the late June consolidation all holding above it before the structure finally gave way in early July. The trendline break came without a meaningful bounce, with price accelerating directly through 0.1610–0.1630 and into a low near 0.1525–0.1530 before recovering slightly. A horizontal reference level near 0.1610–0.1630 has now flipped from support to resistance and sits just above current price as the first meaningful ceiling on any recovery attempt. The pattern of lower highs and lower lows has been unbroken since the late May spike high near 0.2900, with each recovery attempt producing a shorter bounce than the prior one. Price is now sitting just below the broken trendline near 0.1610–0.1630 after the breakdown low, with no visible horizontal support below 0.1525 on this chart. Key Levels To Watch → 0.2800–0.2900 – May spike high, major resistance above → 0.2100–0.2200 – Prior recovery high, resistance → 0.1880–0.1900 – Spike base, resistance → 0.1700–0.1760 – Prior consolidation zone, resistance → 0.1610–0.1630 – Broken trendline support, now resistance → 0.1525–0.1530 – Breakdown low, immediate support → Below 0.1470 – Extended breakdown territory, no clear support A reclaim of the broken trendline near 0.1610–0.1630 on a confirmed 8H close would suggest the breakdown was a wick rather than structural, reopening a move toward 0.1700–0.1760 and potentially 0.1880–0.1900 on a more sustained recovery. A rejection at the broken trendline near 0.1610–0.1630 and a return below the breakdown low near 0.1525–0.1530 would confirm the breakdown as structural, with no clear horizontal support beneath and downside toward 0.1470 and below. Breakdown confirmed below trendline, recovery attempt now pressing into former support as resistance. Reclaim 0.1610–0.1630 → breakdown invalidated, eyes on 0.1700–0.1760. Reject here → breakdown confirmed, downside toward 0.1470 and below. Bias bearish below broken trendline. Shift only on confirmed reclaim of 0.1610–0.1630.