đš $DEGO /USDT â CRUCIAL DOWNTREND CHANNEL BREAK INCOMING! đš
The $DEGO /USDT 4-hour chart is showing a persistent downtrend, currently trading at 1.698 USDT after a sharp 13.15% decline. Price action is constrained within a descending channel, indicating strong bearish momentum. However, itâs approaching critical levels where a breakout or further slide could be imminent.
đĄ Key Levels to Watch:
âą Resistance: 1.800 USDT â Breaking above this level could trigger a trend reversal, with potential upside toward 2.000 USDT. Keep an eye on a clean breakout, as it would confirm bullish momentum.
âą Support: 1.620 USDT â A breakdown below this level may accelerate selling pressure, possibly dragging the price down to 1.500 USDT or lower.
đ Entry Strategy:
âą Long Entry: Consider entering above 1.800 USDT with a target of 2.000 USDT, and place a stop-loss at 1.720 USDT to minimize risk.
âą Short Entry: Enter if the price drops below 1.620 USDT, with a target of 1.500 USDT. Use a stop-loss around 1.700 USDT to protect against sudden rebounds.
â ïž Trade Caution: DEGO is under intense selling pressure. Stay vigilant, as any breakout from this downtrend channel could lead to volatile price moves. Watch for volume confirmation to ensure a sustainable breakout or breakdown.
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