Will key support at $0.00395 trigger a 255% rally?
The post Will key support at $0.00395 trigger a 255% rally? appeared on BitcoinEthereumNews.com. DEGEN is flashing a familiar structure that previously triggered an explosive 300% rally. After a sharp 9.83% impulsive move, price is now correcting into a critical confluence zone, setting the stage for another powerful breakout, provided bulls defend support. After a rise of nearly 10% DEGEN (Degen) is currently in a corrective phase, but this is far from bearish. Price is approaching a key level that mirrors a previous fractal which led to a breakout exceeding 300%. This gives traders a high-probability setup to monitor, especially if DEGEN confirms a higher low in the coming sessions. The region around $0.00395 is technically significant and now acts as the decision point for whether the trend continues higher — or breaks down into lower territory. Key technical points Support: $0.00395 — confluence of Point of Control, 0.618 Fibonacci, and daily support Fractal Repetition: Current structure mirrors a past impulse-correction-expansion phase that led to 300%+ gains Structure Breakout: Downtrend has been broken, and DEGEN is now entering what appears to be an expansion zone DEGENUSDT (1D) Chart, Source: TradingView The $0.00395 level is the most critical zone on the chart right now. It represents the intersection of three key technical signals: the 0.618 Fibonacci retracement, the Point of Control, and a major daily support level. This confluence makes it a prime candidate for a higher low to form. If bulls hold this zone, the path of least resistance favors the upside. Adding to the bullish thesis is the repeating fractal structure. In a previous cycle, DEGEN experienced a nearly identical setup, a strong impulsive candle, consolidation range, then a retracement into the golden pocket before launching into a parabolic rally. The current price behavior suggests a similar expansion may be unfolding. Moreover, DEGEN has broken out of its prior downtrend and likely completed…
The post Will key support at $0.00395 trigger a 255% rally? appeared on BitcoinEthereumNews.com.
DEGEN is flashing a familiar structure that previously triggered an explosive 300% rally. After a sharp 9.83% impulsive move, price is now correcting into a critical confluence zone, setting the stage for another powerful breakout, provided bulls defend support. After a rise of nearly 10% DEGEN (Degen) is currently in a corrective phase, but this is far from bearish. Price is approaching a key level that mirrors a previous fractal which led to a breakout exceeding 300%. This gives traders a high-probability setup to monitor, especially if DEGEN confirms a higher low in the coming sessions. The region around $0.00395 is technically significant and now acts as the decision point for whether the trend continues higher — or breaks down into lower territory. Key technical points Support: $0.00395 — confluence of Point of Control, 0.618 Fibonacci, and daily support Fractal Repetition: Current structure mirrors a past impulse-correction-expansion phase that led to 300%+ gains Structure Breakout: Downtrend has been broken, and DEGEN is now entering what appears to be an expansion zone DEGENUSDT (1D) Chart, Source: TradingView The $0.00395 level is the most critical zone on the chart right now. It represents the intersection of three key technical signals: the 0.618 Fibonacci retracement, the Point of Control, and a major daily support level. This confluence makes it a prime candidate for a higher low to form. If bulls hold this zone, the path of least resistance favors the upside. Adding to the bullish thesis is the repeating fractal structure. In a previous cycle, DEGEN experienced a nearly identical setup, a strong impulsive candle, consolidation range, then a retracement into the golden pocket before launching into a parabolic rally. The current price behavior suggests a similar expansion may be unfolding. Moreover, DEGEN has broken out of its prior downtrend and likely completed…
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