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MKR/USDT Elliott Wave Analysis: Expecting 20-30% Down MoveMKR/USDT Elliott Wave Analysis: Anticipating a 20-30% Down Move In this Elliott Wave analysis of the MKR/USDT trading pair, we'll explore the current price action and wave count for Maker (MKR) against the US Dollar Tether (USDT). The analysis suggests a bearish outlook and the CryptoPatel is expecting a significant correction in the coming days. Please note that trading involves risk, and this analysis should not be considered financial advice. Overview: #MKR is currently trading at $1231, and the CryptoPatel identified an Elliott Wave count, indicating that the impulse wave has already been completed. The focus now shifts to the correction wave, which is expected to lead to a substantial move downwards. Elliott Wave Analysis: The CryptoPatel observed an Ending Diagonal pattern in the 5th wave, adding weight to their bearish sentiment. The Ending Diagonal is a bearish pattern, supporting the hypothesis of an impending corrective move. Short Entries: Entry 1: $1270 Entry 2: $1200 (triggered when the trendline is broken) Targets: The analysis predicts that the correction wave could lead to significant declines, and the following price targets have been identified: Target 1: $1035 Target 2: $950 Expected Downside: CryptoPatel is anticipating a minimum downside move of 20-30% based on the Elliott Wave count and the observed Ending Diagonal pattern. Stop Loss: To manage risk, the recommended stop-loss level for this bearish trade is set at $1365. Disclaimer: Trading cryptocurrencies involves substantial risk, and readers should conduct their research and consult with a financial advisor before making any investment decisions. The writer shall not be responsible for any trading losses incurred based on the information provided in this analysis. Follow us for More Quality Analysis. Thank you.
Short
by CryptoPatel
4
MKR : UPCOMING TRENDthe upcoming trend for MKR what could make it able to gain up $800 coming time. Technical view shows the possibility for a new increase by MKR. Low time frame MKR needs to hold the $600 USD price action to be able to play in a stable trend that could change into a new increase view. If MKR can hold the $600 within the time frame then we could meet in the coming time the target of $800 MKR is at this moment one of the interesting coins that could show an increased view.
Long
by Goldenbreakout
Coins that shined in July. Check their success stories!Hi traders! There's a list of coins that I'd like to highlight today. Let's discuss it. Maker (MKR) is a DeFi protocol on Ethereum that issues and manages Dai, a stablecoin pegged to USD. Users can lock collateral like ETH into Maker's smart contracts to create Dai. The MKR token governs the MakerDAO, which oversees the protocol. Recently, MKR has surged 47%, reaching 41st in market cap. MakerDAO has made significant moves, including increasing the Dai Savings Rate (DSR) to 3.49% and buying $700M in U.S. treasury bonds to diversify its balance sheet. The price of the MKR is trading within a defined channel, indicating a period of consolidation or range-bound movement. The lower boundary of the channel is acting as a support level, with prices finding support around the range of $1070 to $1073 I am watching the scenario unfold. Worldcoin Worldcoin, co-founded by OpenAI CEO Sam Altman, introduces "proof of personhood" using biometric data via an "Orb" device. World ID enables fair voting and value distribution, possibly leading to universal basic income. The WLD token will be issued to users completing proof of personhood. The main risks of this coin Privacy Despite using cryptographic methods to protect data, there is a risk of information leakage or misuse. Accessibility The need for physical access to the "Orb" device limits the project's coverage, potentially leading to uneven distribution in favor of urban centers. Centralization Despite Worldcoin's promises of decentralization, there are concerns about the possibility of introducing "backdoors" or creating fake identities. Security Risks associated with the potential hacking of phones, etc devices Currently, the coin's price pattern appears unpredictable. However, I speculate that a potential bounce reaction might occur around the $1.7-$2 level. XRP The legal case initiated by the U.S. Securities and Exchange Commission against Ripple Labs in 2020 has concluded in favor of the latter. Throughout these years, the company had accused of selling unregistered securities. Great news for this currency as it has already rebounded. As we know, "sell the news, buy the rumors." In this case, I would consider buying at lower levels. I will definitely keep an eye on the developments in August. Thank you for reading my shortcut, folks! What are your favorite coins that you traded this July or see? Write in the comments below. I will be glad to check it!
by Ingwina
MKR 1D Review Long-TermI invite you to review the chart of MKR in pair to USDT. Here the price stays above the uptrend line After unfolding the trend based fib extension grid, we see that we first have a support zone from $ 1067 to $ 1008, then we can mark the second support zone from $ 950 to $ 867, but when the zone does not hold the price, we can see a drop to the area of strong support at $ 763. Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the price has rebounded from the beginning of the $1265 to $1349 resistance zone, then it needs to break through the second very strong zone from $1442 to $1569 and then it can move towards the resistance at $1729. When we turn on the EMA Cross 10 and 30, we see that the MKR is moving in a local uptrend. The CHOP index indicates that the energy has been used, the RSI is moving in the upper part of the range, which may result in a larger price correction, and the STOCH indicator shows that there is a lot of energy, which, combined with the RSI, may result in a price correction.
by cryptodailyuk
MKRUSDTBINANCE:MKRUSDT has now faced a strong resistance line after a magnificent bull run that managed to raise the price from $500 to $1,250. It seems that this is the end of the upward movement of this currency. As we can clearly see, the 5 Elliott Waves are beautifully completed. But how far can the price correction continue and where is the best entry point? In my opinion, the range of 1150 to 1200 dollars can be a good entry point, and we can consider the 0.618 Fibonacci line as the target, which shows us the price of 800 dollars. But keep in mind that this is a long-term goal and don't expect a drop of several days to this point. ⚠️"Daily crypto market analyses I provide are personal opinions & not financial advice. Trading carries risks, so do your own research & seek advisor's help." Don't forget to like and comment
Short
by Madoir
6
MKR: Bullish Flag BreakoutMaker (MKR) technical analysis: Trade setup : Trends have reversed to uptrend but price has reached our target of $1,000-$1,100 resistance zone. It briefly consolidated in Bullish Flag pattern, broke out again and spiked up as high as $1,250, making a new Higher High (sign up Uptrend). However, we’re deep in a resistance zone, so we would prefer to enter on another pullback or if price breaks above $1.1K resistance. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $800 (previous resistance), then $600 – $700. The nearest Resistance Zone is $1,000 – $1,100, then $1,250.
Long
by altFINS
MKRUSD under heavy Resistance. Bearish below it, bullish above.Maker (MKRUSD) has had an incredible bullish run since June 12, being currently on the 6th straight green 1W (weekly) candle. This rally has taken a stop on the 1W MA200 (orange trend-line) two weeks ago but more importantly it faces an even stronger Resistance from the October 03 2022 High at 1165. This is taken from the previous Cycle and the early 2019 fractal where after MKR again broke above the Bear Cycle's Lower Highs trend-line and the 1W MA50 (blue trend-line), it failed to close above the October 08 2018 Resistance and turned into a wide and long-term Accumulation Phase for 1 year. As a result, we currently believe that until the price closes a 1W candle above the Resistance, it will most likely pull-back to the 1W MA50. If however it closes above the Resistance, this fractal will get invalidated and we will buy the bullish break-out towards Resistance 2 at 2300. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:MKRUSD
by TradingShot
Maker astonishing rise ahead?👀!! 🚀MKR Today Analysis💎 MKR is currently trading in a high volume area, with the poc of the Volume Profile Visible Range acting as support. 💎 if it fails to hold its position at the POC, it could correct to another level, potentially up to 5%, before resuming a bullish trend. 💎 maintaining a strong position above the 50-day Exponential Moving Average, further indicating a potential bullish move. 💎A crucial support level at 588, and a low volume node has been observed. A breakdown of this support could shift the market momentum into a bearish zone. 💎In the dynamic world of crypto, staying informed and adaptable is key. Stay tuned for more updates and enjoy your trading journey!
Long
by MyCryptoParadise_Simon
1
MKR: Bullish PennantMaker (MKR) technical analysis: Trade setup : Trends have reversed to uptrend but has reached our target of $1,000-$1,100 resistance zone, where it got rejected. Notice the long wicks on recent daily candles, indicating heavy selling. After a 100% gain from recent lows ($500) on June 10th, we expect some profit taking around the $1K resistance area. Now it’s consolidating in a Bullish Pennant pattern and we wait for a breakout. We highlighted MKR in our recent trading video “5 coins with big upside near-term”. Maker is a well established DeFi platform with real users and revenues , which forms a solid foundation for investors looking to trade it. Pattern : Bullish Pennant – forms typically following a sharp advance, followed by a brief triangular shaped consolidation in price (a small change in direction), before the previous uptrend (bullish) typically resumes. The period of consolidation should have lower volume and the breakouts should occur on higher volume. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening. Support and Resistance : Nearest Support Zone is $800 (previous resistance), then $600 – $700. The nearest Resistance Zone is $1000 – $1100.
Long
by altFINS
MDT : COINBASE/BINANCE WHALES WILL EXPLODE THIS COIN TO THE MOONWe have discussed two ideas about this particular cryptocurrency. The first idea is the main one, and the second idea revolves around a cycle, which you can find more information about here: We are sharing this idea because we have conducted a thorough analysis of this coin and have found a high likelihood of a breakout. Currently, the highest percentage of trading volume is concentrated on Binance and Coinbase. Why do we expect a breakout? Based on our technical analysis and the patterns we have observed in the volume, we believe there is a strong chance of a breakout, even though the price is currently below the normal daily timeframe. Additionally, there are some updates related to AI and Google taking place in Hong Kong, which may also will have an impact on the price action. It's important to note that most cryptocurrencies are currently stable with low trading volume. However, when the conditions are right, we anticipate MDT will experience a breakout in trading volume. Please keep in mind that there are no guarantees in the crypto market, and this update should not be considered as trading advice. It is simply a sharing of ideas and viewpoints.
Long
by Goldenbreakout
17
The positive opening of the half-year supports the altsDue to the passage of an important time limit at the change of the half-year, I think it is worth considering the market situation. Last month, the reversal of monthly candlesticks on the tops, which I predicted, worked well, but investors were in no hurry to invest in altos until the very fact of a positive closing of the half-year and a signal for further market support. The most positive scenario for which there were all chances was the opening of the second half of the year above 2250 on the air and 32.5 on the cue ball, which would give reliable technical signals for continued growth to 2750-3500 and 37.5-45k, respectively. However, an opening above 1900 and 30k is at least a signal for a flat, with the probability of further growth remaining up to 70%. The absence of an obvious threat of a new drawdown of the tops is already enough for more or less reliable investments in altos, which is why the revival of individual coins since the last days of July is connected. On the inertia of last month, we can expect to maintain purchases on the tops at least until mid-July. In these two weeks, the altos have the opportunity to consolidate growth. In the absence of surprises from the foreign exchange market and the euro's drawdown to 1.060-75, the current bull run on alt may last until the middle of the quarter. In this regard, we are not in a hurry to throw off the coins that have grown, but have not taken the target levels. With a drawdown of the euro, we can see a pullback on the crypt on the retest of the monthly loy with a new attempt to grow closer to the middle of the month, while this option is less likely. So far, uft perl vib cvp remain in my attention with the highest priority, which from the current levels can show the greatest growth up to 3-5X. Also interesting are the wtc for dock ooki oax vite front epx burger amb with a potential of up to 2-3 from current levels. Also, fida drep hard wing returned to powerful supports, which can show powerful rebounds. Among the low-liquid assets, asr atm phantokens and torn and pnt coins with a potential of up to 3-5X remain the most interesting. For scalping with a potential of up to 50-70%, om snm pivx voxel df chess is also interesting. Among the strong projects at interesting levels are vidt and gft, which are suitable for more reliable investments in medium-sized.
BITSTAMP:ETHUSDLong
by Strateg_
MKRUSD giving very clear breakout signalsMKRUSD is approaching the MA200 (1w) which is untouched since October 17th 2022. The price has already closed over the MA50 (1w) last week for the first time since March 28th 2022, giving a clear long term buy signal. A closing above the MA200 as well, is the next buy signal to take advantage of. Trading Plan: 1. Buy if the price crosses over the MA200 (1w). 2. Buy if it then closes over Resistance (1) as well. Targets: 1. 1160 (Resistance 1). 2. 1235 (Resistance 2). Tips: 1. The RSI (1w) is rising inside a Channel Up since October 2022, a sign of a market bottom and long term reversal into a Bull Market. Please like, follow and comment!!
CRYPTO:MKRUSD
by TradingBrokersView
1
We called $MKR $BCH and #DEFI ($COMP)This is personal trading & not for our fund. ASX:MKR was in the low 600's when we spoke about how good it looked, It is now up 50%. If you had opportunity to buy on that dip, it would be closing in on a 2x return, NICE. #DEFI was aa sector we spoke about a few times as having good opportunity. Since then, NYSE:COMP is up 2x+! Spoke about NYSE:BCH in mid/late May and it was around $110. This currently stands at a 3x return!!! #crypto #Altcoin
COINBASE:BCHUSD
by ROYAL_OAK_INC
MKR: Resistance BreakoutMaker (MKR) technical analysis: Trade setup : Trends are reversing to uptrend. The $600-700 support zone once again acted as an attractive entry area. Now price broke above the 200-day moving average (~$676) and above $800 resistance, signaling potential trend reversal. Price could revisit $1K resistance. Maker is a well established DeFi platform with real users and revenues , which forms a solid foundation for investors looking to trade it. Trend : Uptrend on Short- and Medium-Term basis and Downtrend on Long-Term basis. Momentum is Bullish ( MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $600 – $700, then $500. The nearest Resistance Zone is $800, which it broke, then $1000 – $1100.
Long
by altFINS
MKRUSDT UPDATEThe situation with MKR is as follows: After the market crash, this cryptocurrency had one of the best performances and quickly managed to recover itself. One of the most important support levels for MKR is the support trendline that I have marked on the chart with a green color. This support trendline had been lost for some time, but finally, after two attempts, we were able to regain it. However, more importantly, it's the overall market situation that is not showing any interesting trend, so for me, it is important today candle closes above this support trendline, regardless of whether it is red or green. If this happens, the price of $685 could be a suitable entry point for buying, and my target would be the resistance trendline that you see on the chart marked in red, indicating a price of $800. Keep in mind that there is no certainty in this market, and we are only trading based on the data we see on the chart and sometimes with the help of news. Therefore, the best approach is to enter a trade with confirmation. In my opinion, the downtrend of this particular coin has been broken, and we can confirm it with the break of the structure. However, there is also a block order that I have indicated on the chart, which has acted as resistance twice and caused a price drop. Please don't forget to like and comment, and if you haven't already, follow me. I examine the cryptocurrency market trend every day and share interesting ideas here for free. Wishing everyone profit and success.
Long
by Madoir
MKR/USDT - Maker: Resistance_Breakout_Confirmation◳◱ An impressive Resistance Breakout and Confirmation has been detected on the ASX:MKR / CRYPTOCAP:USDT chart. The price has surged above a key resistance level, accompanied by a compelling candle pattern, thereby signifying a promising bullish trend. Notable resistance levels can be pinpointed at 761 | 817 | 919, while substantial support zones are identifiable at 659 | 613 | 511. It is highly recommended to seize this opportunity by entering a trade within the present price range of 708 and setting sights on higher levels of profitability. ◰◲ General info : ▣ Name: Maker ▣ Rank: 67 ▣ Exchanges: Binance, Kucoin, Bybit, Huobipro, Gateio, Poloniex ▣ Category/Sector: Financial - Lending ▣ Overview: Maker is a peer-to-contract lending platform enabling over-collateralized loans by locking Ether in a smart contract and minting Dai, a stablecoin pegged to the US dollar. Dai's stability is achieved through a dynamic system of collateralized debt positions, autonomous feedback mechanisms and incentives for external actors. Once generated, Dai can be freely sent to others, used as payments for goods and services, or held as long term savings. ◰◲ Technical Metrics : ▣ Mrkt Price: 708 ₮ ▣ 24HVol: 4,418,279.317 ₮ ▣ 24H Chng: 3.812% ▣ 7-Days Chng: -6.10% ▣ 1-Month Chng: 7.86% ▣ 3-Months Chng: 0.98% ◲◰ Pivot Points - Levels : ◥ Resistance: 761 | 817 | 919 ◢ Support: 659 | 613 | 511 ◱◳ Indicators recommendation : ▣ Oscillators: BUY ▣ Moving Averages: STRONG_BUY ◰◲ Technical Indicators Summary : STRONG_BUY ◲◰ Sharpe Ratios : ▣ Last 30D: 0.93 ▣ Last 90D: -0.12 ▣ Last 1-Y: -0.03 ▣ Last 3-Y: 0.63 ◲◰ Volatility : ▣ Last 30D: 0.51 ▣ Last 90D: 0.48 ▣ Last 1-Y: 0.86 ▣ Last 3-Y: 1.15 ◳◰ Market Sentiment Index : ▣ News sentiment score is N/A ▣ Twitter sentiment score is 0.53 - Bullish ▣ Reddit sentiment score is 0.46 - Bearish ▣ In-depth MKRUSDT technical analysis on Tradingview TA page ▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated! ◲ Disclaimer Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk. ▣ Welcome to the home of charting big: TradingView Benefit from a ton of financial analysis features, instruments and data. Have a look around, and if you do choose to go with an upgraded plan, you'll get up to $30. Discover it here - affiliate link -
by Crypto2AF
MKR Maker Retracement to the Support after Overbought AreaIf you haven`t bought MKR before the crypto rally: Or sold it on the way down: Then you should know that the Crypto MAKER has recently experienced a period of being overbought, indicating a potential need for a retracement or pullback in the near term. Overbought conditions occur when the price of an asset has risen too quickly and may be due for a temporary correction. Considering the current situation, it is reasonable to anticipate a retracement in MAKER's price, with a potential target of the support level around $638. Looking forward to read your opinion about it.
Short
by TopgOptions
MKR/USDT - Maker: BBand_Breakout◳◱ A Bollinger Band breakout has been identified on the ASX:MKR / CRYPTOCAP:USDT chart. The price has moved outside of the upper Bollinger Band, indicating a potential bullish trend. The next resistance key levels are located at 702 | 786 | 966, and the major support zones can be found at 522 | 426 | 246. Consider buying at the current price zone of 671 and targeting higher levels.BBand_Squeeze ◰◲ General info : ▣ Name: Maker ▣ Rank: 61 ▣ Exchanges: Binance, Kucoin, Bybit, Huobipro, Gateio, Poloniex ▣ Category/Sector: Financial - Lending ▣ Overview: Maker is a peer-to-contract lending platform enabling over-collateralized loans by locking Ether in a smart contract and minting Dai, a stablecoin pegged to the US dollar. Dai's stability is achieved through a dynamic system of collateralized debt positions, autonomous feedback mechanisms and incentives for external actors. Once generated, Dai can be freely sent to others, used as payments for goods and services, or held as long term savings. ◰◲ Technical Metrics : ▣ Mrkt Price: 671 ₮ ▣ 24HVol: 2,117,940.001 ₮ ▣ 24H Chng: 0.751% ▣ 7-Days Chng: 8.59% ▣ 1-Month Chng: 6.50% ▣ 3-Months Chng: -0.00% ◲◰ Pivot Points - Levels : ◥ Resistance: 702 | 786 | 966 ◢ Support: 522 | 426 | 246 ◱◳ Indicators recommendation : ▣ Oscillators: BUY ▣ Moving Averages: STRONG_BUY ◰◲ Technical Indicators Summary : BUY ◲◰ Sharpe Ratios : ▣ Last 30D: 1.73 ▣ Last 90D: -0.02 ▣ Last 1-Y: 0.36 ▣ Last 3-Y: 0.58 ◲◰ Volatility : ▣ Last 30D: 0.38 ▣ Last 90D: 0.45 ▣ Last 1-Y: 0.90 ▣ Last 3-Y: 1.15 ◳◰ Market Sentiment Index : ▣ News sentiment score is N/A ▣ Twitter sentiment score is 0.53 - Bullish ▣ Reddit sentiment score is 0.72 - Bullish ▣ In-depth MKRUSDT technical analysis on Tradingview TA page ▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated! ◲ Disclaimer Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk. ▣ Welcome to the home of charting big: TradingView Benefit from a ton of financial analysis features, instruments and data. Have a look around, and if you do choose to go with an upgraded plan, you'll get up to $30. Discover it here - affiliate link -
by Crypto2AF
1