Dego Finance (DEGO) Technical Analysis 2021 for Crypto Traders

Dego Finance (DEGO) Technical Analysis 2021 for Crypto Traders

In Dego Finance (DEGO) Technical Analysis 2021, we use past statistics, price analysis, RVOL, MA, and much other information about DEGO to analyze the future trend of the cryptocurrency

Dego Finance is a decentralized ecosystem that offers a diverse mix of non-fungible tokens (NFT) and decentralized financial (DeFi). It is an open and independent NFT ecosystem. Dego’s NFT protocol is a second layer cross-chain infrastructure for Blockchain projects that can be used to attract users and distribute tokens. DEGO uses a modular combination design concept that integrates various product elements into subsystems with specific functions.

Dego Finance (DEGO) Current Market Status

According to CoinGecko, the DEGO price is trading at $12.22 with a 24-hour trading volume of $25,341,382, at the time of writing. However, DEGO has increased by 13.5% in the last 24 hours.

In addition, Dego Finance has a circulating supply of 5,422,186 DEGO coins. Currently, DEGO trades in Binance, CoinTiger, BitWell, ZT, and KuCoin.

Dego Finance (DEGO) Technical Analysis 2021 

Dego Finance (DEGO) holds the 491th position on CoinGecko right now. The recent development and upgrades might push DEGO to reach new heights. Now, let’s deep dive into the DEGO technical analysis 2021. The daily time frame chart of Dego Finance (DEGO) is shown below.

DEGO/USDT Descending Channel Pattern (Source: Tradingview)

A descending channel is one type of charting pattern that technical analysts will use to analyse a security’s trend. A channel formed by drawing trendlines along the support and resistance levels of a security’s price series. In general, channels can be used to determine the best levels of support and resistance to buy or sell securities.

Currently, DEGO trades in a range of $10.39. If the trend continues then it will lead to a further surge up to the $33.88 Level. If the trend reverses to the down side, then it will reach the support level at $3.19.

Dego Finance (DEGO) RSI

The below chart shows the relative strength index (RSI) of DEGO. 

DEGO RSI (Source: TradingView)

As shown in the above chart, RSI remains at 52.13. This shows that DEGO’s price is neither overbought nor oversold state. This shows that traders have to trade carefully, however, major price reversal could take place.

Dego Finance (DEGO) RVOL

The below chart shows the Relative Volume of DEGO. It is an indicator that indicates to traders how the current trading volume has changed over a period of time compared to the previous trading volume.

DEGO RVOL(Source: TradingView)

Currently, the RVOL of DEGO lies below the cutoff line which represents the weaker participants in the current trend.

Dego Finance (DEGO) Moving Average

DEGO’s Moving Average (MA) is shown in the chart below. MA supports traders to find trends.

DEGO MA (Source: TradingView)

Currently, DEGO is in a bullish state. However, DEGO price is closely above 50 MA (short-term), and it is now along with 200 MA. Possibly, DEGO can also move above 200 MA (long-term) soon.

Once it moves above the 200 MA level, it completely goes to a bullish state. Moreover, there is a high possibility of a trend reversal at any time.

Dego Finance (DEGO) Price Comparison With Bitcoin

The below chart shows the price comparison between DEGO and BTC. 

DEGO vs BTC Price Comparison chart(Source: TradingView)

From the chart, we can identify the trend of the BTC and DEGO is moving at the same level as the trend. This indicates when the price of BTC increases or decreases, the price of DEGO also increases or decreases respectively.

Conclusion

With the ongoing developments and upgrades that are taking place within the DEGO platform. Dego Finance has a great future ahead in this crypto market. However, DEGO can reach new heights.

Bullish DEGO price prediction 2021 is $18.94. As mentioned above, it may reach great heights, however reaching $33.88 is also possible, if investors have decided that DEGO is a good investment in 2021.

FAQ

What is DEGO?

DEGO provides cross-chain infrastructure to enable Blockchain projects to expand their user base, distribute tokens, and develop various applications.

Where can you purchase DEGO?

DEGO is listed on many cryptocurrency exchanges that include Binance, CoinTiger, BitWell, ZT, and KuCoin.

Will DEGO reach a new ATH soon?

With the ongoing developments and upgrades within the DEGO platform, it has the high possibility of reaching its ATH soon.

Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.