To achieve a profit from the DEGO/USDT currency based on the monthly candlestick chart shown in the picture, and analyzing the support and resistance points, here is a comprehensive analysis and strategic plan:
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📊 Technical analysis of the chart:
✅ Data from the chart:
Highest peak: 6.284 USDT (strong main resistance).
Last price: 1.097 USDT.
Lowest point: 1.006 USDT (monthly low and critical support indicator).
RSI: 43.44 (the currency is not in the oversold area yet, but close).
MACD: Negative, indicating a downward trend.
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🔻 Support points:
1. 1.00 – 1.006 USDT: Critical support; if broken, the currency may drop to 0.874 or 0.333.
2. 0.874 USDT: Historical support mentioned on the chart.
3. 0.333 USDT: Very distant low and may only be reached in case of a collapse.
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🔺 Resistance points:
1. 1.95 – 2.00 USDT: First local resistance.
2. 3.32 – 3.57 USDT: Medium resistance, appeared as a previous closing level.
3. 6.28 USDT: Very strong peak, may only be reached with a massive movement and high interest.
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📈 Profit strategy:
1. Buying at support:
First entry at 1.00 – 1.10 USDT with a stop loss below 0.95 USDT.
Additional entry in case of a drop at 0.88 – 0.90 USDT.
2. Selling at resistance:
Partial sale at 1.95 USDT (initial profit taking).
Second sale at 3.30 – 3.50 USDT.
Hold a small portion when reaching 6.28 USDT.
3. Capital management:
Do not risk more than 10-15% of your capital in this currency, as the volume carries high risks.
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📌 Important advice:
Follow the news of the DEGO project and the wallets (whales).
Monitor the movements of (BTC and ETH), as they directly affect small currencies.$DEGO