$DEGO is currently experiencing a downtrend with a price decline of 2.876% over the last 24 hours.
The price oscillated between a high of 1.046 and a low of 1.001, closely grazing support at 1.001.
Bollinger Bands are relatively tight, indicating low volatility, with the upper and lower bands at 1.0316 and 1.0046 respectively.
Current resistance sits at 1.038, suggesting caution for bullish moves.
Recent macroeconomic factors, such as inflation data and regulatory scrutiny, may negatively impact trader sentiment.
Bitcoin's influence remains undefined, which adds uncertainty to DEGO's price action.
Given the volatility and bearish trend, a short-term trading strategy may be advisable for quick gains or losses.
Key takeaway: Monitor macroeconomic indicators and support levels closely for potential trade setups.
