MKR is poised for a major breakout!
Technical analysis shows:
MKR is about to break through a key resistance level at $2969.
RSI is coming out of the overbought zone, indicating that a price correction is unlikely.
MACD shows that the strong uptrend is still in place.
Recent news is also positive:
Coinbase Custody will support the MKR token.
Grayscale Investments has added another 25,000 MKR to its portfolio.
The MakerDAO protocol is developing a solution for the DAI stablecoin with Bitcoin collateral.
All of these factors indicate that MKR has strong potential for growth in the short term.
Entry point:
Buy if the price breaks above $2969 and stabilizes above this level
Stop-loss: $2763
Target: Determine your risk tolerance before setting a target.
Note:
Do your own research and use a proper risk management strategy before entering any trade.
Are you ready to enter the trade?
Additional information:
Timeframe: 4-hour chart
Indicators: RSI, MACD
Support: $2763
Resistance: $2969
Disclaimer:
This analysis is for informational purposes only and should not be considered as trading advice.
Always do your own research and consult with a financial advisor before making any investment decisions.
MKR is about to break through a key resistance level at $2969.
RSI is coming out of the overbought zone, indicating that a price correction is unlikely.
MACD shows that the strong uptrend is still in place.
Recent news is also positive:
Coinbase Custody will support the MKR token.
Grayscale Investments has added another 25,000 MKR to its portfolio.
The MakerDAO protocol is developing a solution for the DAI stablecoin with Bitcoin collateral.
All of these factors indicate that MKR has strong potential for growth in the short term.
Entry point:
Buy if the price breaks above $2969 and stabilizes above this level
Stop-loss: $2763
Target: Determine your risk tolerance before setting a target.
Note:
Do your own research and use a proper risk management strategy before entering any trade.
Are you ready to enter the trade?
Additional information:
Timeframe: 4-hour chart
Indicators: RSI, MACD
Support: $2763
Resistance: $2969
Disclaimer:
This analysis is for informational purposes only and should not be considered as trading advice.
Always do your own research and consult with a financial advisor before making any investment decisions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.