$DEGO Dropped Nearly 47%! Selling Pressure Explodes in the DeFi Market š
š One of the old DeFi projects, DEGO Finance ($DEGO ) today experienced a drastic decline of up to -46.98% in the last 24 hours. The price plummeted from $2.789 to a low of $1.286, before slightly pulling back to the current area of $1.421.
Technically on the 4-hour timeframe:
* A full-body bearish candle destroyed the entire short-term support structure, breaking through EMA(13), EMA(21), and even nearly touching EMA(99) in one move.
* RSI(6) plunged sharply to 5.36, indicating seller dominance without significant resistance.
* Stochastic also reflects full capitulation, with K & D values bouncing from the neutral zone directly into oversold territory.
Looking at historical performance:
* In the last 180 days, $DEGO has dropped -59.57%
* In the last year, its value has collapsed by more than 40%
With a trading volume of $22.43M, it can be concluded that this is not just retail action. There is likely a significant exit from large holders or structured distribution from institutions/whales. This could also be a domino effect from pressure in the DeFi sector as a whole.
The current situation places DEGO in a crucial phase:
* If the breakdown below $1.28 continues, then the sub $1.2 area could be the next target.
* If there is buyer reaction and an intraday bounce reversal, we can monitor whether the price can reclaim EMA-99 (around $2.35) as new resistance.
š DISCLAIMER: Not Promotion & Not Financial Advice
