Technical Analysis - DERO
DERO/USD - 01/14/2020

As shown above, we will be updating the Technical Analysis of DERO/USD from the 12th of December. 



DERO, even a month later, has failed to break back inside the noted range. Yet, it is not making any new lower lows, which indicates a reasonable sign of strength and a bottoming process. Looking at the local structure below the range, we are seeing a round bottom structure, which might be leading into a reversal. 



Just as we mentioned above, DERO is failing to get back into the previous range, yet showing quite some strong indications of doing it sooner than later. Should this break into the range happen, an experienced trader would either be buying the breakout or the re-test of the range low. Yet, I have to mention that the volume has dropped off significantly, and it should be something to consider and be careful about. Should this continue and should DERO not be able to break into the range again, an experienced trader would be careful of a bears re-test of the range lows as resistance. 


This Technical Analysis is made by Kong Trading. The provided Analysis should not be considered financial advice!



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