【DEGENUSDT Signal】Long: Healthy pullback after a massive breakout, clear institutional wash-out intent

DEGENUSDT exhibits textbook【volume-price resonance】and【structural resonance】on the 1-hour chart.

At 00:00 Beijing time, the price surged sharply from 0.0008361 by over 19% to 0.000997, with hourly trading volume skyrocketing to 11.66 billion, 38.5 times the previous hour. This is a typical institutional sweep-buying behavior, not driven by retail traders. Although the price pulled back from the high, the correction showed【healthy retracement】characteristics: trading volume contracted sharply from the peak (from 02:00 to 03:00, volume was only 7%-14% of the massive spike), and the price found support and stabilized within the 0.000875-0.000895 range.

Currently, the market depth is significant. The order book shows that buy orders from level 1 to 5 total over 2 million units, while sell orders from level 1 to 5 total around 2.5 million units. The bid-ask depth is balanced, with no obvious selling pressure. The 1-hour RSI is at 67.54, in a strong zone but not overbought, leaving room for further upward movement.

🎯 Direction: Long

⚡ Entry: 0.0008800 - 0.0008850

🛑 Stop Loss: 0.0008700

🚀 Targets: 0.0009500 / 0.0009800

🛡 Strategy: At the first target, reduce half of the position; move the stop loss of the remaining position to the entry price for a risk-free pursuit of higher targets.

Logic: The massive institutional spike between 00:00 and 01:00 is a clear signal of position building. The subsequent volume contraction and pullback are standard wash-out actions, aimed at clearing retail chasing buyers and previously trapped longs. The current price consolidates in the upper-middle part of the large bullish candle, with heavy buy orders, indicating strong institutional support and a reluctance to let the price fall back to cost basis. In a negative funding rate environment (-0.03%), short positions face increased costs, further weakening the momentum for continued shorting. The least resistance is upward; institutions only need minimal capital to push the price through the previous high, triggering short covering and long chasing buying.

View real-time chart 👇 DEGENUSDT
---
Follow me: Get more real-time analysis and insights on the crypto market! $BTC $ETH $SOL
‍#Gate广场AI测评官 #加密市场上涨 #比特币站上七万美元