#DEGO/USDT – Bullish Breakout Setup | 1H Chart Analys

#DEGO

The price is moving in a descending channel on the 1-hour timeframe. It has reached the lower boundary and is heading towards a breakout, with a retest of the upper boundary expected.

We are seeing a bearish bias in the Relative Strength Index (RSI), which has reached near the lower boundary, and an upward bounce is expected.

There is a key support zone in green at 0.480, and the price has bounced from this level several times. Another bounce is expected.

We are seeing a trend towards stabilizing above the 100-period moving average, which we are approaching, supporting the upward trend.

Entry Price: 0.484
First Target: 0.491
Second Target: 0.499
Third Target: 0.509

Remember a simple principle: Money Management.

Place your stop-loss order below the green support zone.

For any questions, please leave a comment.

Thank you.