DEGEN crypto has a bearish structure and saw a near 30% price drop since Monday's highs, but a recovery could begin soon.
The Open Interest data from Coinglass showed rising OI alongside the prices, a sign of bullish conviction in the derivatives market.Despite the 28% price drop since the highs of the 14th of October, the token is still up 128.5% this month.
The RSI has fallen below the neutral 50 to indicate momentum was on the side of the sellers. Yet, the OBV did not agree with those findings.
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