DEGEN (Degen) forecast for 2024 year

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DEGEN (Degen) forecast

Fundamental analysis and news of DEGEN (Degen)
today we are going to do a fundamental analysis and technical review of the crypto asset Degen (DEGEN). DEGEN is a cryptocurrency project that offers users a wide range of opportunities to earn and invest in cryptocurrencies. The main features include trading platforms, financial instruments, interactive games and contests, transactions, exchange, investment and earnings, security and transparency.

DEGEN is ranked third in the CoinMarketCap ranking with a market capitalisation of $100 million. The project has an active community of 60,000 followers on Twitter (known as X) and is steadily working on the development of its platform. In recent months, DEGEN has introduced new features for users, entered into partnerships with leading crypto platforms, and continues to improve its security and transparency, strengthening its position in the cryptocurrency market.

DEGEN technical analytics

Moving on to the technical analysis of DEGEN, we see that this project is still young, so it is more difficult to analyse it due to its short trading history. Over the past four months, we have seen two periods of growth and two periods of decline. On the weekly chart, you can see the maximum prices reached in the winter of this year, followed by a significant decline.

DEGEN (Degen) forecast for 2024 year

On the daily chart, indicators show that now might be a good time to buy. The stochastic indicator indicates a possible reversal and the start of a new rise. However, due to the volatility and small capitalisation of the project, investing in DEGEN is risky. I see that the project has the potential for growth, but so far it does not demonstrate the stability required for long-term investment.

Bitcoin forecast, BTC (Bitcoin)

Now let’s turn to the forecast for Bitcoin (BTC). I see bitcoin forming a corridor between $60,000 and $64,000. Recently, we saw a rapid decline to $57,000, followed by a pullback to the top of the range. This indicates significant volatility and active trading, which could lead to further growth.

DEGEN (Degen) forecast for 2024 year

The oscillator indicator (oscillator) shows a red dot, which indicates a possible decline. However, when this indicator returns to the initial growth zone, we can expect a new upward movement. It is important to follow the different trading sessions, as the Asian session often shows significant rate movements. Based on the current data, I see that bitcoin has the potential for further growth after the current corridor is completed.

DEGEN

In summary, we can say that DEGEN is a promising but risky project that offers a wide range of opportunities for earning and investing in cryptocurrencies. Fundamental analysis shows that the project is actively developing, entering into partnerships and improving its platform. Technical analytics indicates the possibility of growth, but also shows the instability and risks associated with investing in this asset.

Bitcoin remains a key player in the cryptocurrency market, and its forecast shows the potential for further growth after the current corridor is completed. It is important to pay attention to indicators and news to make informed investment decisions. Keep in touch with the community, discuss your thoughts, and follow the updates to keep abreast of all the changes in the cryptocurrency market. Remember that this is not a financial recommendation, but only information for your consideration. I wish you successful crypto trading and investments!
*** Translated with www.DeepL.com/Translator (free version) ***

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