Good morning, the Asian session has just opened. $DEGO plunged from 0.0470 to 0.0240 overnight and is now back at 0.0280. Do you think that wick was a shakeout, or has it really collapsed? 😅
My take: A 24-hour drop of 36.36% with only 353K in trading volume points to very thin liquidity and no meaningful buying support—once it starts falling, it triggers a cascade of sell-offs. The low at 0.0240 looks more like a liquidation wick. The price has bounced a bit from the low, but it’s still far from the high of 0.0470, and honestly, the rebound looks pretty weak. This morning, I’m mainly watching to see whether 0.0280 holds. If it doesn’t, there’s a good chance 0.0240 will be tested again. If you’re looking to play this kind of oversold bounce, don’t rush in to catch a falling knife—waiting for a confirmed retest would be safer.
What do you think? Planning to buy the dip, or wait for a signal that the trend has turned? Let’s talk in the comments #DEGO $DEGO
My take: A 24-hour drop of 36.36% with only 353K in trading volume points to very thin liquidity and no meaningful buying support—once it starts falling, it triggers a cascade of sell-offs. The low at 0.0240 looks more like a liquidation wick. The price has bounced a bit from the low, but it’s still far from the high of 0.0470, and honestly, the rebound looks pretty weak. This morning, I’m mainly watching to see whether 0.0280 holds. If it doesn’t, there’s a good chance 0.0240 will be tested again. If you’re looking to play this kind of oversold bounce, don’t rush in to catch a falling knife—waiting for a confirmed retest would be safer.
What do you think? Planning to buy the dip, or wait for a signal that the trend has turned? Let’s talk in the comments #DEGO $DEGO