Analyzing in depth #Dego
Pay attention to the market and review what is happening with Dego Finance #Dego
The token has just entered the list of the biggest losers in the market, a signal that many traders follow closely.
In the last 24 hours, it has already recorded a drop of over 10, and the most interesting thing is that this movement could be just the beginning.
The technical structure is starting to look weakened, and the momentum is clearly shifting to the bearish side.
When an asset enters the list of losers right after a previous rise, the market often continues to correct because selling pressure and profit-taking begin to appear.
Moreover, another factor to consider #DEGO is a micro cap within the crypto market with a relatively low capitalization and limited liquidity.
These types of assets tend to have more violent movements both up and down. That’s why when the trend turns, declines can accelerate quite quickly.
Historically, the project had its great moment during the cycle #NFT of 2021, reaching prices much higher than the current ones.
Since then, the token has lost a significant part of its value, demonstrating that volatility in this type of project can be extreme.
When the market loses momentum, corrections tend to be deep.
That’s why if you haven't opened a short position yet, this type of context may start to catch the attention of traders looking to take advantage of bearish movements.
When the falling phase really activates, the price can move very quickly and with little liquidity in the way.
After that, many look at the chart late and say again I let a clear opportunity pass.
The market often leaves quite evident signals; the difference lies in who dares to execute the operation when they appear 📉📊
At least that’s how I see it.
Regards and good trades
$DEGO
Pay attention to the market and review what is happening with Dego Finance #Dego
The token has just entered the list of the biggest losers in the market, a signal that many traders follow closely.
In the last 24 hours, it has already recorded a drop of over 10, and the most interesting thing is that this movement could be just the beginning.
The technical structure is starting to look weakened, and the momentum is clearly shifting to the bearish side.
When an asset enters the list of losers right after a previous rise, the market often continues to correct because selling pressure and profit-taking begin to appear.
Moreover, another factor to consider #DEGO is a micro cap within the crypto market with a relatively low capitalization and limited liquidity.
These types of assets tend to have more violent movements both up and down. That’s why when the trend turns, declines can accelerate quite quickly.
Historically, the project had its great moment during the cycle #NFT of 2021, reaching prices much higher than the current ones.
Since then, the token has lost a significant part of its value, demonstrating that volatility in this type of project can be extreme.
When the market loses momentum, corrections tend to be deep.
That’s why if you haven't opened a short position yet, this type of context may start to catch the attention of traders looking to take advantage of bearish movements.
When the falling phase really activates, the price can move very quickly and with little liquidity in the way.
After that, many look at the chart late and say again I let a clear opportunity pass.
The market often leaves quite evident signals; the difference lies in who dares to execute the operation when they appear 📉📊
At least that’s how I see it.
Regards and good trades
$DEGO