$DEGO
/USDT Technical Analysis & Trade Strategies🚀🎯
Current Overview:
Price: $3.18 (+10.58% change)
24h High: $3.50
24h Low: $2.48
Bollinger Bands (20, 2):
Upper Band: $3.098
Middle Band: $2.755
Lower Band: $2.411
SAR: 2.908 (indicating a bullish trend)
Volume (DEGO): 4.27M
Volume (USDT): 12.28M
Market Depth: 22.203% buy-side dominance
Technical Indicators:
1. Bollinger Bands: Price is hovering near the middle of the bands, suggesting that it is consolidating. A breakout above the upper band could indicate a continuation of the uptrend.
2. Parabolic SAR: The SAR value is at 2.908, indicating that the trend is bullish. If the price continues to rise, this would further confirm the momentum.
Trade Strategy and Targets 🎯:
Bullish Scenario (Uptrend Continuation):
Target 1 (🎯 Primary Target): $3.50 (Resistance level at the 24-hour high)
Trade Setup:
Entry: Enter long positions if the price holds above the middle Bollinger Band ($2.755) and shows a clear breakout above $3.20.
Stop Loss: Set a stop loss just below the middle band, around $2.75, to manage risk in case the trend reverses.
Take Profit: Set a primary take-profit target at $3.50.
Neutral Scenario (Consolidation Range):
Target 2 (🎯 Mid-Range Target): $3.00
Trade Setup:
Entry: Consider entering at $2.75 if the price retests the middle band and shows signs of bouncing.
Stop Loss: Set a stop loss at $2.50 (just below the lower Bollinger Band).
Take Profit: Take profit at $3.00 as a short-term target before a breakout or a pullback.
Bearish Scenario (Trend Reversal:
Target 3 (🎯 Support Level): $2.48 (24-hour low)
Reasoning: In case the trend reverses and the price breaks below the middle Bollinger Band, it could test the $2.48 low
Trade Setup:
Entry: Short the market if the price falls below $2.75 with confirmation of a downtrend (e.g., SAR flips to a bearish signal)
Stop Loss: Set a stop loss above the middle band at $3.00 to limit risk.
Take Profit: Set take profit at the $2.48 low to capture the downward movement.