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DEGO/USDT Price Analysis : Potential Upswing Ahead
#DEGO/USDT #Dego #Degousdt #Write2Earn! #BinanceSquareFamily
Overview :
The price of **DEGO/USDT** is currently navigating within a **descending channel** on the **4-hour timeframe**, indicating a structured movement. Recently, there was a **bounce** from the lower limit of this channel, with **support** established at **1.555**. This bounce suggests a potential for upward movement, especially as the **Relative Strength Index (RSI)** is on the verge of breaking out, which typically signals an impending price rise.
Additionally, the price is stabilizing above the **100-period moving average**, reinforcing the bullish outlook. Traders are eyeing potential entry points, with a current entry price of **1.83**.
Target Projections :
- First Target : **2.02**
- Second Target : **2.30**
- Third Target : **2.60**
Conclusion :
In summary, the current technical indicators point towards a possible upward trend for **DEGO/USDT**, especially if the RSI breaks its current resistance.
Advice :
Investors should consider entering at the **1.83** price level while keeping an eye on market movements and the RSI for potential confirmation of the bullish trend. It is crucial to set realistic targets and manage risks effectively as the price approaches the identified targets.
#DEGO/USDT #Dego #Degousdt #Write2Earn! #BinanceSquareFamily
Overview :
The price of **DEGO/USDT** is currently navigating within a **descending channel** on the **4-hour timeframe**, indicating a structured movement. Recently, there was a **bounce** from the lower limit of this channel, with **support** established at **1.555**. This bounce suggests a potential for upward movement, especially as the **Relative Strength Index (RSI)** is on the verge of breaking out, which typically signals an impending price rise.
Additionally, the price is stabilizing above the **100-period moving average**, reinforcing the bullish outlook. Traders are eyeing potential entry points, with a current entry price of **1.83**.
Target Projections :
- First Target : **2.02**
- Second Target : **2.30**
- Third Target : **2.60**
Conclusion :
In summary, the current technical indicators point towards a possible upward trend for **DEGO/USDT**, especially if the RSI breaks its current resistance.
Advice :
Investors should consider entering at the **1.83** price level while keeping an eye on market movements and the RSI for potential confirmation of the bullish trend. It is crucial to set realistic targets and manage risks effectively as the price approaches the identified targets.
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$DEGO
The price recently bounced off the descending support around $1.74, indicating buying interest at this level🧐
A successful breakout above the descending resistance and 50 MA could push the price towards the $2.62 and $3.33 resistance zones 🚀
#Dego #altcoins #bitcoin #BinanceTournament #Degousdt
The price recently bounced off the descending support around $1.74, indicating buying interest at this level🧐
A successful breakout above the descending resistance and 50 MA could push the price towards the $2.62 and $3.33 resistance zones 🚀
#Dego #altcoins #bitcoin #BinanceTournament #Degousdt
#Dego
The price recently bounced off the descending support around $1.74, indicating buying interest at this level🧐
A successful breakout above the descending resistance and 50 MA could push the price towards the $2.62 and $3.33 resistance zones 🚀
#Write2Earn #write2earn
The price recently bounced off the descending support around $1.74, indicating buying interest at this level🧐
A successful breakout above the descending resistance and 50 MA could push the price towards the $2.62 and $3.33 resistance zones 🚀
#Write2Earn #write2earn