DEGENUSDT Analysis (1D Timeframe)

On the DEGENUSDT chart, the price shows a potential reversal to the bullish direction after forming a strong support area around 0.01270. Here are the key points in this analysis:

1. Entry Point:

The current price is at 0.01291, close to the previously tested support level.

2. Profit Target (TP):

TP1: 0.01500 (first minor resistance area).

TP3: 0.02280 (main resistance target, as well as testing the previous high level).

3. Stop Loss (SL):

0.01190, below support to protect the risk if the price breaks down.

4. Risk/Reward Ratio:

This setup offers an opportunity with an attractive risk/reward ratio, especially if the price manages to break through TP1 towards TP3.

5. Supporting Scenario:

Buying volume is increasing, indicating that there is buying pressure that is pushing the price back into the bullish zone.

Further confirmation is needed to see if the price is able to maintain momentum above 0.01280.

Note: Continue to use good risk management and pay attention to the overall market sentiment to maximize opportunities.