Technical analysis by Darkanalysis about Symbol DEGEN: Buy recommendation (5/13/2025)

#### **Market Context** - DEGEN shows a strong **bullish trend on the daily chart**, but faces a local resistance on the 1H timeframe. - Key focus: Break above **0.008846** for confirmation of continuation. #### **Key Levels** - **Resistance**: 0.008846 (Breakout trigger) - **Support Zone**: 0.007764 – 0.007382 (Critical demand area) - **Current Price Action**: Rejecting weakly at resistance; no strong sell signals yet. #### **Analysis** - **Daily TF**: Strong bullish structure, but 1H shows short-term exhaustion. - **1H Resistance**: Price is testing a minor supply zone (0.008846). A weak rejection suggests **low selling pressure**—no "sell" setup here. - **Potential Support**: The zone **0.007764–0.007382** is the only area where buyers might step in aggressively. #### **Trade Plan** - **Ideal Entry**: - **Conservative**: Wait for **break & close above 0.008846** (confirms bullish continuation). - **Aggressive**: Buy near **0.007764–0.007382** (high-risk, requires tight stop). - **Targets**: - TP1: 0.009500 (Previous high) - TP2: 0.010000 (Psychological level) - **Stop Loss**: Below 0.007382 (if buying support). #### **Risk Management** - **R/R**: 1:3+ if entering at support, 1:5+ on breakout. - **Warning**: Avoid premature longs before confirmation—current resistance could trigger a pullback. #### **Chart Notes** - Marked: - Red zone = Resistance (0.008846). - Green zone = Support (0.007764–0.007382). - Blue arrow = Breakout direction. #DEGEN