--$DEGEN
DEGEN/USDT – The Accumulation Phase is Over?
After a long and painful downtrend, DEGEN has finally shown signs of strength. The recent price action suggests a clear breakout from a strong accumulation zone, and we might be witnessing the early stages of a powerful bullish move.
Chart Analysis Breakdown:
Accumulation Zone: For weeks, DEGEN was consolidating in the 0.0045 – 0.0060 range, as shown in the blue highlighted zone. This region acted as a strong base, where smart money quietly accumulated while retail traders ignored it.
Breakout & Retest: We finally saw a breakout from this accumulation zone, followed by a sharp upward spike. As expected, the price came back to retest the breakout zone – a classic confirmation of trend reversal. This is where weak hands exit, and strong hands double down.
Volume Spike: A significant increase in volume accompanied this breakout. Volume often precedes price action, and in this case, it confirms the move’s legitimacy.
Next Targets:
First resistance sits around 0.010
Then we eye 0.015 as the major psychological and technical target.
Why This Matters: Markets move in cycles – accumulation, markup, distribution, and markdown. Based on this structure, DEGEN appears to have transitioned from accumulation to markup, which is typically the most profitable phase.
Potential Strategy:
Those already in: Hold strong and trail your stop loss.
Waiting to enter? Retests of the 0.0060 zone offer favorable risk-reward setups.
Targets: 0.010 – 0.015, with partial profit booking along the way.
Final Thoughts: This setup is a textbook example of how patience in crypto markets pays off. Remember, accumulation phases feel boring, but they build the foundation for explosive growth. Stay focused, manage your risk, and don’t let FOMO control your decisions.
Follow for more such technical insights and smart entry alerts. Let’s ride the wave before it becomes a tsunami.
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