$DEGO /USDT – BOUNCE ATTEMPT AFTER SHARP DRAWDOWN
WEAK RECOVERY IN PROGRESS
STRONG RESISTANCE NEAR $1.27–$1.29 ZONE
$DEGO is showing a minor rebound after a steep downtrend, gaining +1.79% today. Despite this, the broader trend remains bearish, with the pair still down over -10% in the last 7 days and nearly -70% over the past 6 months.
Price is currently trading around $1.24 after testing a daily high of $1.275. This bounce lacks strong volume confirmation and is approaching a key resistance zone between $1.27 and $1.29. A failure to break above this area could trigger renewed selling pressure.
Trade Setup: Wait for rejection near resistance for a possible short entry, targeting support near $1.21–$1.20. Bullish confirmation only above $1.30.
Market Outlook: Bearish bias remains unless DEGO reclaims and sustains above the $1.30 level with increased volume.