#DEGOUSDT – Bullish Breakout Setup | 1H Chart Analys

#DEGO

The price is moving within a descending channel on the 4-hour timeframe. It has reached the lower boundary and is trending towards a bounce. A retest of this boundary is expected.

The Relative Strength Index (RSI) indicates a downward trend, and this trend is likely to continue due to the overbought condition.

There is a key support zone in green at 0.250. The price has bounced off this zone several times, making it a strong support level.

The price is trending towards the 100-period moving average, which we are approaching. This trend supports an upward move.

Entry Price: 0.294
Target 1: 0.303
Target 2: 0.315
Target 3: 0.330

Stop Loss: At the resistance zone in green

Remember this simple rule: Money management.

Any questions, please leave a comment.

Thank you.