Degen (Base) Price Prediction: 2024, 2025, 2030

DEGEN price prediction: Key highlights

1. Primary support and resistance levels

• On the daily chart, $0.0025 is anticipated as the lowest support level for DEGEN.
• Meanwhile, $0.0095 is likely the peak resistance.

2. Market sentiment

• In August 2024, the market’s bearish sentiment seems to be waning.

3. Predictive forecasts

• Forecasts from AI/ML predictive algorithms estimate the average price of DEGEN to exceed $1 in 2031 and increase to over $10 in 2034.

Stay informed on DEGEN’s prospects via a comprehensive daily technical analysis, followed by the coming weeks of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:

DEGEN technical analysis: Bulls resurface to steer the market

The crypto world is ever-expanding, with new players consistently entering the market. Out of these, DEGEN has captured significant interest. The Degen (Base) price prediction for 2024 becomes crucial to delve deeper into its prospects.

The altcoin began its journey by suffering the repercussions of broader market pessimism, which caused substantial valuation losses across the sector. The initial rejection at the peak analyzed resistance of $0.0080 pulled the price below $0.0059 within the first week of July.

The market’s undervaluation of DEGEN prompted a swift rebound over the latter. After briefly stabilizing, the bulls rallied mid-month, extending to the highest chart barrier. Another rejection at this level catalyzed a much stronger downturn, decisively turning $0.0059 into a price wall.

August’s arrival did not change the market’s outlook, as the price fell below the lowest support within the analyzed time frame, $0.0030, early in the month. The overselling spree triggered another recovery.

With supporting volumes, the bulls turned $0.0049 into support mid-month. At the time of this analysis, the token traded at $0.0050. This value represented more than 45% appreciation over the past week, as per CoinMarketCap. 

The current support remains under the bearish radar, putting it at high risk. An increase in selling pressure can cause this level to falter, which could lead DEGEN to tumble to the lowest floor. A bearish flip of this would push the token to retest the support at $0.0025.

If the bulls can counter profit-taking and reclaim the current resistance, it would pave the way for a move over the highest analyzed resistance. This could spark investor optimism with prospects of flipping $0.0095. Sustained buying pressure above this level can drive the token as high as $0.0100 in the short-to-medium term. 

Future forecasts from our prediction models foresee modest growth for the asset. By 2031, the average price of DEGEN is expected to hit $1, with a significant rise anticipated by 2034, where it's projected to exceed $10.

DEGEN's 2024 roadmap: Key indicators to watch and trade

• The Bollinger Bands remained tight and contracted further as the price moved above the 20-day Moving Average (MA) in mid-July, even briefly crossing the upper band. However, the 20 MA was re-established as resistance in late July, with price candles frequently falling below the lower band until early August. 
• This triggered an expansion. By mid-month, the price reclaimed its position above the MA, indicating a resurgence in buying pressure.
• The Moving Average Convergence Divergence (MACD) indicator stayed negative for the entire analysis. A brief bearish crossover was observed at the end of July, but this was negated by a bullish crossover in early August.
• The latest recorded values of the MACD line at -0.000592, the signal line at -0.000849, and the histogram at 0.000257 signaled a weakening of the broader downtrend. 
• During the period, trading volume was predominantly low but experienced a significant surge when the price breached its lowest support level. As the price ascended, a modest rise in volume occurred, reinforcing the growing market interest.