An analysis will be provided for the chart of 1000088578.jpg as it shows a clear trend continuation and setup. The token name is derived from the "24h Vol(DEGO)" and is paired with USDT as a common base.
$DEGO/USDT LONG TRADE SIGNAL
Technical Analysis:
The $DEGO chart is displaying a strong upward trend on the 1-hour timeframe. After a sharp move, the price is consolidating just under the 24h High of $0.979. The price, currently at $0.922, is finding support at the short-term MA(7) of $0.883, which acts as a dynamic support level. The pattern suggests a continuation of the bullish impulse after a minor retracement.
Trade Setup:
* Long Entry: $0.922 (Current Price / After consolidation)
* Take Profit (TP):
* TP1: $0.979 (24h High/Immediate Resistance)
* TP2: $1.054 (Swing High Extension Target)
* Stop Loss (SL): $0.880 (Below MA(7) support)
Short Outlook of Market:
The market sentiment for $DEGO is strongly bullish in the short term, with the price showing significant upward momentum. The price action is holding above key moving averages, indicating buyers are still in control. A successful breakout above the $0.979 high should accelerate the move towards the $1.00 psychological level and beyond.
