DEGENUSDT has made a strong impulsive move and is now entering a corrective phase. All eyes are on a critical support zone where the next big reaction could determine the direction of the next 250%+ move.
Key Highlights:
Support Confluence: Point of Control + Daily Support + 0.618 Fibonacci
Upside Target: 0.014 weekly resistance = 255% potential upside
Bearish Scenario: Breakdown would shift focus to the value area low
Full Analysis:
DEGENUSDT recently completed a strong impulse to the upside, signaling renewed interest and momentum in the asset. Following this move, price action is now in a controlled pullback phase — but it’s not random. The chart shows that DEGEN is now approaching a key technical region made up of the Point of Control, daily support, and the 0.618 Fibonacci retracement level. This triple confluence zone is where the market could establish a higher low and gear up for the next breakout.
If price shows strength upon retesting this area, the probability of a sharp rally increases significantly. The next major resistance sits at 0.014 — a weekly level that also aligns with previous consolidation zones. If this move plays out, traders could be looking at a 255% upside.
However, failure to hold this support would be a clear bearish signal. In that case, the value area low becomes the next probable downside target, and bullish momentum would be temporarily invalidated.
Key Highlights:
Support Confluence: Point of Control + Daily Support + 0.618 Fibonacci
Upside Target: 0.014 weekly resistance = 255% potential upside
Bearish Scenario: Breakdown would shift focus to the value area low
Full Analysis:
DEGENUSDT recently completed a strong impulse to the upside, signaling renewed interest and momentum in the asset. Following this move, price action is now in a controlled pullback phase — but it’s not random. The chart shows that DEGEN is now approaching a key technical region made up of the Point of Control, daily support, and the 0.618 Fibonacci retracement level. This triple confluence zone is where the market could establish a higher low and gear up for the next breakout.
If price shows strength upon retesting this area, the probability of a sharp rally increases significantly. The next major resistance sits at 0.014 — a weekly level that also aligns with previous consolidation zones. If this move plays out, traders could be looking at a 255% upside.
However, failure to hold this support would be a clear bearish signal. In that case, the value area low becomes the next probable downside target, and bullish momentum would be temporarily invalidated.
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Disclaimer
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Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.