Maker (MKR)
Updated
Maker chart is interesting and odd at the same time. A rapid ascent followed by a slower correction that reached the bottom, making a big triangle form. MKR broke both the major and minor downtrend lines, and it seems posed for an upward impulse wave. Let's see what happens.
Note
So, after Maker broke both the major and minor downtrend lines, it went up, and now it seems moving in an ascending channel.
Note
So, after MKR broke the ascending channel upward, it went up sharply and reached the horizontal resistance area, but couldn't break the area, then made a pullback on the broken channel's upper line. MKR needs to gather momentum to break the horizontal resistance area. Let's see what happens.
Note
So, MKR went down to the lower uptrend line, touched it, and started an upward wave. Then broke the minor downtrend line too, going up toward the major horizontal resistance area. Let's see if MKR can reach this area, or even break it.
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So, MKR didn't have the required momentum to go up and couldn't reach the major horizontal resistance area. Then correction continued and MKR went down. It seems MKR's correction has finished at 0.618 Fib retracement level, and has started the next upward wave. Let's see what happens.
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