DEGEN in ascending channelDegen price has that nice curved bottom.
Also building bullish structure.
Inside the channel looks to be breaking above a triangle of sorts.
Wait for it to retest / retrace before trying to enter.
DEGENUSDT.P trade ideas
DEGEN Potential Rebound at the Fibonacci Golden Ratio
The market has witnessed Degen reach a critical level on the Fibonacci retracement scale, specifically touching the Golden Ratio (around the 61.8% retracement level). In technical analysis, this Fibonacci level is often seen as a point of significant support, indicating a possible shift in momentum from bearish to bullish.
Historically, assets that touch or approach the Golden Ratio tend to experience a reversal or a bounce, as many traders use this point as an entry for potential uptrends. The recent price action of the degen seems to align with this pattern, signaling a possible rebound.
Market sentiment around the degen shows cautious optimism, with volume increasing slightly at this level. If it holds above this key support, a potential upward momentum could follow, potentially driving the price to retrace towards the next resistance levels. However, traders should remain aware of external factors and volatility, as degen tokens often come with inherent risks. A steady confirmation above the Golden Ratio could make this a promising setup for those willing to take a calculated risk.
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This is an ideal time for traders to monitor the token’s price action closely, as a solid bounce at the Fibonacci level could spark the next rally. However, a failure to hold at this level might signal further downward movement. As always with high-risk tokens, manage risk carefully and stay updated on broader market trends.
DEGEN Flat correctionWave 3 has finished, and we are now in a complex correction phase for Wave 4. There's a chance that a flat correction could develop, meaning the market may consolidate before the next big move.
To support this correction we have also identified a bearish divergence.
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Let's analyse DEGENUSDT both fundamentally and technically.
FUNDAMENTAL ANALYSIS:
Degen (DEGEN) started as a reward token for participants in the Farcaster Degen channel. What began as a meme coin now boasts a substantial following of developers, crypto content creators, and enthusiasts who have bought into the coin. During its initial launch, 15% of the total supply was airdropped to active members of the Farcaster's Degen channel, and there are plans to airdrop 70% of the token's total supply eventually.
TECHNICAL ANALYSIS:
DEGENUSDT has demonstrated a bullish breakout from a parallel channel pattern. The price is currently supported by the 100-day Moving Average (MA). On a lower timeframe, DEGEN is forming a bullish pennant, indicating a potential continuation of the uptrend. This presents a favorable opportunity to accumulate here.
Entry Zone:
$0.0054 to $0.0076
Targets level:
Expecting 5x-6x
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Happy Trading!!
DEGEN Long Trade Setup: Potential for 60% Rally!Long DEGEN/USDT
DEGEN has broken above the resistance trendline and is now trending above the 50 EMA. A potential rally from the current price could lead to a positive move for DEGEN.
Entry: CMP or wait for the retest at $0.00722.
Accumulation: $0.007
Stop Loss: $0.00659
Leverage: 5x
Targets: $0.00853, $0.00935, $0.01010, $0.01088, $0.01178
Be sure to use proper SL and accumulate on any dips. Keep leverage low to avoid liquidation.
Do your own research before investing.
Haven't been monitoring, just glanced.. Where I'd short thisSeems like a perfectly good spot to open a short if it hits this price in the short term next 24 hours.
impressive movement potential for Degenthe market is simply boiling for the meme Degen on base network, the price chart has dramatically increased few days breaking the descending triangle with impressive movement looking for alt high
DEGEN Accumulation Strategy: Key Resistance Zones for Gains! Overview:
MEXC:DEGENUSDT.P is currently in a consolidation phase, with large holders (whales) strategically accumulating during price dips. This presents an opportunity for both short-term trading and long-term accumulation.
Investment Strategy:
1. Accumulation Phase:
- 🟢 Buy Zone: $0.002 - $0.005.
- 📈 Signal: Monitor whale accumulation and low retail activity as confirmation.
2. Short-Term Trading Targets:
- 🎯 Target 1: $0.01 – Short-term resistance.
- 🎯 Target 2: $0.02 – Previous local high.
- 🎯 Target 3: $0.03 - $0.04 – Major resistance zone.
- 💡 Entry Signal: Significant uptick in large transactions or volume increase.
- ❗️ Stop-Loss: Set at $0.0015 to manage risk.
3. Long-Term Holding:
- 🛒 Strategy: Accumulate during dips within the buy zone.
- 🔍 Monitoring Points: Watch for whale inflows/outflows and network activity.
- 🏆 Exit Plan: Consider partial profit-taking near $0.03 and hold remainder for potential higher targets.
Risk Management:
- 🚨 Stop-Loss: $0.0015.
- 🔔 Alerts: Set for whale inflows/outflows and large transactions to adjust strategy accordingly.
Conclusion:
DEGEN presents a strategic opportunity for both short-term gains and long-term accumulation. Use defined targets and manage risk carefully. Stay vigilant of whale activity and market sentiment changes for optimal trade execution. 📊💪
Mini Report:
Price Analysis:
- DEGEN peaked around $0.06 in March 2024 before stabilizing in the $0.002 - $0.005 range. This indicates potential for a recovery if accumulation continues.
Holder Distribution:
- Retail investors dominate, with most holders owning 0-10k DEGEN. Whales have shown accumulation during dips, signaling potential for price support and future rallies.
Key Metrics:
- 📈 Active Addresses: Declining trend post-peak suggests reduced engagement, but steady accumulation by large holders is a positive sign.
- 🛡 Long-Term Holders: Stable number of long-term holders (1 year or more) provides a foundation of committed investors.
- 🐋 Whale Activity: Monitoring whale inflows is crucial, as their behavior often precedes major price movements.
Outlook :
With a solid accumulation strategy and well-defined targets, DEGEN offers a compelling investment opportunity. Keep an eye on market sentiment and whale behavior to adjust your strategy accordingly. 💪🚀
Degen ready to give a entry for next 10x?degen chart 1H , marked the important levels and found a daily fvg , looking to add some near red lines and hold for some time , memes are booming in this market and degen is gonna be one of them
DEGEN/USDTBYBIT:DEGENUSDT
This idea has a long-term profit target.
All targets are indicated on the graph.
- Risk 1-3% on deposit
- R/R min 1/2
P.S (This is not an investment recommendation, this is my personal opinion.)
Degen on weekly similar to BTC on monthlyThe market consists of 4 phases of accumulation, ascending, supply and descending
As you can see, Degen, like Bitcoin, is currently in the accumulation phase
Usually, the accumulation phase is long and tiring
I predict that this phase will last about 2 months
Then we can see the beginning of the upward phase
My prediction is to see $3 in early 2025
DEGEN/USDT Breakout PredictionDaily DEGEN/USDT Analysis
In the daily chart of DEGEN against Tether (DEGEN/USDT), the price has been moving within a descending wedge pattern. Recently, it made contact with the bottom of this wedge, and with the current bullish momentum indicated by a 4.33% increase, there is a strong possibility of a breakout from this pattern.
Technical Analysis:
Descending Wedge: DEGEN has been consolidating in a descending wedge, which is typically a bullish reversal pattern.
Recent Bounce: The recent contact with the bottom of the wedge and subsequent bounce suggests a potential upward breakout.
Relative Strength Index (RSI): The RSI is at 27.47, indicating that DEGEN is in oversold territory and may be due for a reversal.
Price Prediction:
Based on the analysis, it is predicted that DEGEN will soon break out of the descending wedge upwards. After a potential short-term correction, the price is likely to move towards the target of $0.065096. This presents a good buying opportunity with a significant potential upside.
Disclaimer:
I am not a financial advisor, and these predictions should not be taken as financial advice.
DEGEN LONG SETUP ALL trading ideas have entry point + stop loss + take profit + Risk level.
hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Please also refer to the Important Risk Notice linked below.
Disclaimer
DEGEN support @ Range POCThe 4h range Point of Control looks like a good support level if we come down locally. I dont yet have a perspective on the DEGEN long term outlook as the market surfs.
If we break below the rPOC then the VAL (value area low) is next to watch.
Not Ever Financial Advice.
DEGEN - Degen setupA meme turned into blockchain.
making Adam and eve pattern. and then probably even a bigger Adam and eve pattern (much bigger).
giving us a good entry zone and two cleap TPs.
deatils in the chart.
#Manage your risk
#Not a financial advice. It's just a trade setup I found.
Degen early accumulationI'm looking to accumulate Degen around the 0.01 area in the coming months. I'm not a big fan of layers but the team and community is active and constantly working on new projects and ideas so it overshadows their hideous token metrics. This project has huge potential upside IMO.
Degen will be added to the bag.
DEGEN - BYBIT - Good Risk-ReturnDEGEN is another coin that caught my attention- retesting the lower lows, like many other coins
Degen, an ERC-20 token launched in January 2024, has reshaped the Farcaster ecosystem by enabling Casters to reward others with DEGEN for posting quality content. Our points system recognizes unique posts and comments, effectively bridging the gap between online contributions and real-world value.
Degen is an unofficial token that were distributed to the community on the decentralized social network, Farcaster. Degen started as a reward token for participants in the Farcaster Degen channel. What began as a meme coin now boasts a substantial following of developers, crypto content creators, and enthusiasts who have bought into the coin.
DEGEN: $0.030 | Think Reddit Android & Google Labsprobably the future of humanity
a hobby turned into a mission
now a culture making waves in the layer 3 space
it takes a while to wrap your heads around Blockchain Layer 1 2 and more so 3
in laymans a chain within a chain within a chain
with Degen PEPE as first meme in the Layer 3 scece
we all know first advantage is a life changing
like COG GROK WOLF at ground levels
this one is yes the CHAIN Degen and more so its project DePepe
this could overshadow WiF ha ha ha
DegenWhales accumulated on designed area.
Still in accumulation, not ready to move higher yet, chances of retesting lows or lower.
BB+RSI 2024BB+RSI 2024 this indicator is simple way to gain a win rate averaging 60-70% since in the past years. according to traders the indicators works on the higher time frame (1H, 4H).
Thanks for reading ♥
DEGEN - Trade 7 and 8 Best example of pagiging aligaga putangina wala naman confirmation pumapasok agad. LOL
