Technical Analysis for $DEGO /USDT along with Trade Signals and Target Levels:
Current Price: $3.149
24h High: $3.500
24h Low: $2.476
Market Sentiment: The price is currently showing an upward movement with a positive 24h change (+8.14%). However, there is volatility with slight declines in the 1h (-2.1%) and 4h (-8.99%) timeframes, indicating a potential pullback after the recent rally.
Key Indicators:
Support Level: $2.476 (24h low) – This represents a strong support zone. If the price approaches this level, buying pressure could increase.
Resistance Level: $3.500 (24h high) – The price is facing resistance near this level, and a breakout above it could drive the price higher.
Trend: Bullish (Based on the +8.14% rise in the last 24 hours) but showing some short-term retracement.
Trade Signals:
1. Buy Signal:
Entry: If the price bounces off the support level at $2.476 or shows signs of upward momentum near $2.900.
Target Levels:
Target 1 (T1): $3.350
Target 2 (T2): $3.500 (Breakout Resistance)
Target 3 (T3): $3.700 (Next potential resistance after $3.500)
Stop Loss: $2.450 (Below the support level)
2. Sell Signal (Short):
Entry: If the price fails to break above $3.500 and shows signs of reversal around the resistance zone.
Target Levels:
Target 1 (T1): $3.000
Target 2 (T2): $2.750
Target 3 (T3): $2.476 (Retesting the support level)
Stop Loss: $3.600 (Above the resistance zone)
Momentum:
Momentum Analysis: The momentum is showing mixed signals. The short-term (1h and 4h) decline could be a healthy pullback in an overall bullish trend. However, if the price starts consolidating near $3.000-$3.200, it could present another buying opportunity for the next leg up.
Indicator Suggestion: Consider using RSI (Relative Strength Index) to confirm overbought/oversold conditions. If the RSI reaches overbought (>70), a potential short/sell opportunity could arise. On the other hand, an RSI below 30 may indicate an opportunity to buy.