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TECHNICAL ANALYSIS: $DEGO/USDT
The chart is a 1-Hour candlestick chart for Dego Finance ($DEGO), as indicated by the 24h Vol(DEGO) data. The current price is \text{\$1.586}.
Key Indicators:
* Moving Averages (MA): The current price (\text{\$1.586}) is positioned between the short-term MA(7) at \text{\$1.582} and the medium-term MA(25) at \text{\$1.620}. The price is currently facing resistance from the MA(25).
* MA Crossover: The MA(7) is trading below the MA(25) (\text{1.582} < \text{1.620}), which is a bearish crossover often signaling a downtrend or correction.
* Price Action: The price had a massive spike to the 24h high of \text{\$1.848} followed by a sharp and sustained rejection. The price has failed to regain the MA(25) and is now consolidating just above the MA(7), suggesting an imminent continuation of the correction.
Short Trade Setup:
* Entry: \approx \$1.580 (A breakdown below the MA(7) and current consolidation low).
* TP 1 (Target Price 1): \approx \$1.527 (Targeting the 24h Low/recent swing low and MA(99) level, \text{1.527} and \text{1.533} respectively).
* TP 2 (Target Price 2): \approx \$1.480 (Targeting the next structural support zone).
* SL (Stop Loss): \approx \$1.625 (Placed just above the MA(25) to invalidate the short thesis if the price reclaims medium-term support).
Short Outlook of Market:
The immediate market outlook for $DEGO is bearish after a clear rejection from the recent high. The bearish MA alignment and failure to sustain a rally suggest that a further pullback is likely before the next attempt at a major move higher. The MA(99) is a key support level to watch.
