Technical Analysis: $DEGO
/USDT
The DEGO token is currently facing a significant resistance level at $2.286, having experienced a decline of 8.45% in the past 24 hours. The recent price action suggests volatility, making it crucial for traders to identify key support and resistance levels for strategic entries and exits.
Key Levels to Watch:
1. Support Level: $2.196
This level has held strong as a low in the last 24 hours, providing a potential entry point for bullish traders. A bounce from this level could indicate renewed buying interest.
2. Resistance Level 1: $2.286
The current high serves as a critical resistance zone. A breakout above this level could signal a strong upward momentum, opening the door to higher targets.
3. Resistance Level 2: $2.520
If the price successfully breaches $2.286, the next target would be $2.520. Traders should monitor price action closely at this level, as it could lead to increased volatility.
Volume Insights:
With a 24h trading volume of 2.44M USDT, thereâs significant market activity, suggesting that traders are actively participating in the DEGO market.
Conclusion:
Traders should remain vigilant around these key levels, as they provide valuable insights for potential trading strategies. Always consider your risk management practices before entering a trade.
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