🚨 DEGO/USDT Technical Analysis – Key Levels to Watch 🚨
---$DEGO
Market Overview
DEGO/USDT is currently trading at $3.68 (-0.12%), showing minor retracement after hitting a 24-hour high of $4.55 and a low of $3.50. The pair is consolidating within a clear ascending triangle pattern on the 15-minute chart, which indicates a possible breakout setup.
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🧐 Key Observations:
1. Support Zone:
The price has consistently found support around the $3.50 - $3.60 range.
This zone aligns with the ascending triangle's rising trendline, acting as a strong floor for buyers.
2. Resistance Levels:
The immediate resistance is seen near the $4.00 psychological level.
A more significant breakout could push the price toward $4.55, the previous local high.
3. Price Action:
The recent pullback is testing the lower trendline of the triangle, which could trigger a bounce.
If buyers step in and volume increases, a move upward looks likely.
4. Bullish Scenario:
A breakout above $4.00 - $4.10 could open the door for a rally toward $4.55 and beyond.
Volume confirmation will be critical for a sustained move.
5. Bearish Risk:
If the price falls below $3.50, the ascending triangle will break, and DEGO could face downward pressure, possibly testing the $3.20 region.
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📊 Trading Plan:
Entry: Look for a bounce near support ($3.50 - $3.60) or wait for a breakout above $4.00.
Target: $4.00 - $4.55. Higher targets may include $5.00 in case of strong momentum.
Stop-Loss: Below $3.50 to manage downside risk.
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⚠️ Key Takeaway
DEGO/USDT is at a critical juncture. Traders should monitor the ascending triangle pattern for a breakout or breakdown. A bounce from current levels could offer a favorable risk-to-reward setup.
Is DEGO ready to fly, or will the bears take control? Share your thoughts!
This analysis is for informational purposes only. Always conduct your research and trade responsibly. 🚀
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