DEGOUSDT - SHORT BIAS AMID WEAK CRYPTO MARKET CONDITIONSSymbol - DEGOUSDT
CMP - 1.970
DEGOUSDT attempted to break its prevailing trend but encountered significant resistance and was further impacted by a weak cryptocurrency market. The downward movement may persist.
Following the breakout from the descending channel's resistance, a bullish momentum of 45% was established. However, the price faced strong resistance between 2.110 and 2.180, resulting in the formation of a trading range. Sellers are determined to maintain control over this zone and exert pressure. After a prolonged battle for this level, a false breakout of resistance occurred, leading to liquidation when the 2.000 support level was breached. Buyers are now in a state of panic. Should the price remain below the 2.110 - 2.180 range, a further decline in the short to medium term is likely.
Resistance Levels: 2.000, 2.180, 2.274
Support Levels: 1.750, 1.584, 1.359
The overall market remains weak, with altcoins reacting strongly to Bitcoin's short-term fluctuations. This behavior suggests that the market is accumulating liquidity in anticipation of a further decline. Bitcoin has yet to reach its key target, and the absence of a bullish catalyst continue to place downward pressure on altcoins.
Altcoinanalysis
GRT/USDT | Long Term Investment AltcoinGRT/USDT Long Term
- If you're looking for an altcoin for investment, GRT could be a good option as it has recently broken a 644-day range on the weekly timeframe. It's currently nearly 90% down from its all-time high, so if you're looking for a investing in altcoin, wait for a pullback to around 0.25 -0.2 this range is a good area for Investing
Note - Only for education Purpose
KAVA On The Verge OF NEXT BREAKOUTHey guys welcome for a fresh update on KAVA
--------------------------------------------------------
KAVA getting ready for a breakout from upward channel...
--------------------------------------------------------
KAVA has been accumulated well and wait for the confirmation to play this trade.
--------------------------------------------------------
We can soon see a huge breakout to upside
Hold it for a while
KAVA is too Strong..
For other details you can refer to chart...
Don't Miss Out on it....
Give a thought to it and manage your risk carefully...
Let me know whats your target and suggestion In Comment Section
Will Be back with another Analysis in the mean time..
--------------------------------------------------------
Thanks for reading... Give us a THUMBS UP if you like it...
--------------------------------------------------------
this is Husain Zabir, signing out
Thankyou...