MKRUSDT Losing Momentum and Ready for More Downward Move?
Yello, Paradisers! Are you ready for a high-stakes scenario with #MKRUSDT? We have analyzed the asset and it seems ready for more downward move:
đź’ŽThere's a strong likelihood of a bearish continuation as the #MKR heads to retest its key support at $2088 within the descending channel. This level has held up so far, but the fading trading volume and 3 times rejections from the channel's upper level hint at a further price drop toward the highlighted demand zone.
đź’ŽIf #MKR breaks the support level at $2088, we expect a retest of the demand zone below this level due to the continuous selling pressure.
đź’ŽHowever, if #MakerDAO does not break below the $2088 support and instead climbs, the retest of the descending resistance of the channel and the Bearish Order Block (OB) above it is possible. This zone has consistently attracted heavy selling pressure and will likely drive the price further down once touched.
đź’ŽShould #MKR revisit this critical demand zone, securing a rebound is vital. Failure to recover here could fuel bullish momentum and increase the chances of a breakout from the current descending channel. This move will automatically invalidate the short scenario.
Stay disciplined and focused on your trading strategy. If you master these principles, you will already be ahead of most traders.
MyCryptoParadise
iFeel the success🌴
đź’ŽThere's a strong likelihood of a bearish continuation as the #MKR heads to retest its key support at $2088 within the descending channel. This level has held up so far, but the fading trading volume and 3 times rejections from the channel's upper level hint at a further price drop toward the highlighted demand zone.
đź’ŽIf #MKR breaks the support level at $2088, we expect a retest of the demand zone below this level due to the continuous selling pressure.
đź’ŽHowever, if #MakerDAO does not break below the $2088 support and instead climbs, the retest of the descending resistance of the channel and the Bearish Order Block (OB) above it is possible. This zone has consistently attracted heavy selling pressure and will likely drive the price further down once touched.
đź’ŽShould #MKR revisit this critical demand zone, securing a rebound is vital. Failure to recover here could fuel bullish momentum and increase the chances of a breakout from the current descending channel. This move will automatically invalidate the short scenario.
Stay disciplined and focused on your trading strategy. If you master these principles, you will already be ahead of most traders.
MyCryptoParadise
iFeel the success🌴
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Follow a team of traders with 10+ years of experience?
GO FREE👉 t.me/+BPd2gjl6OHZjYmQ0
🎖️Or Fully Upgrade Your Trading With Clean strategy, and PRO Crypto Signals 👉 shorturl.at/ikpAV
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