【$DEGO Signal】Long (Pullback Entry) - 1H Strong Breakout Followed by Retracement to Confirm Support

$DEGO The 1H timeframe is currently consolidating at a high level after a strong rally, with the price digesting profits around 0.754. The 4H timeframe has formed a clear upward trend, with consecutive bullish candles breaking through the previous consolidation zone. Currently, the 1-hour RSI is in the strong zone but not overbought, indicating healthy momentum. The key point is that the price has moved significantly away from the 1-hour moving average, making chasing the high extremely risky; a technical pullback must be awaited.

🎯Direction: Long (Pullback Pending Order)

⚡Entry/Order: 0.6265 - 0.6427 (Patiently wait for the price to retest the 1-hour EMA20 and previous breakout support zone)

🛑Stop Loss: 0.5441 (Break below the 4-hour EMA50 trend support)

🚀Target 1: 0.8398 (Previous high resistance and 1.618 Fibonacci extension level)

🚀Target 2: 0.9384 (2.0 Fibonacci extension level)

🛡️Trade Management:

- Execution Strategy: After reaching Target 1, reduce position by 50% to lock in profits, and move the remaining stop loss up to the entry price. If the price fails to rise as expected and falls back into the lower end of the entry zone, it is considered a false breakout, and an exit should be promptly executed.

Deep Logic: This coin has gained over 33% in 24 hours, with volume and price rising together, indicating a typical hot coin momentum rally. Open interest remains stable without significant decline, suggesting funds have not exited. Order book data shows deep buy support near key support levels, while there is a clear wall of sell orders above 0.755, indicating short-term resistance before a breakout. Negative funding rates imply high short-term holding costs and potential short squeeze opportunities. Overall, after an aggressive rally, a retracement is inevitable; this pullback presents an excellent second-entry opportunity.

Check real-time market 👇 $DEGO

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