Maker break?Following a short term squeeze that seems to be lining up with the upcoming CBP listing. Not financial advice.
MKRUSD trade ideas
MKR coming to coinbase pro.Low ~1m supply+high volume exchange=?It's going to be interesting to watch what happens when it is listed on coinbase pro. The low supply of 1,005,577 MKR which doesn't even factor in potentially lost funds could cause MKR to hit all time highs or break through them with all the volume and accessibility coinbase pro brings. Not financial advice blabla just a trade based on some potentially great looking odds factoring supply+incoming volume.
MKR/USD WILL SURVIVE (LONG SET UP)BUY MKR/USD
ENTRY $230 & ENTRY 2 $190
TP.1 $330 TP.2 $430 TP.3 $680 TP.4 $890
The MakerDAO (MKR) community has locked in an auction to cover a multi-million dollar hole in DAI collateral after the sudden Ethereum (ETH) price crash on March 12. Scheduled for 10:28 AM EST on March 19, the system will auction newly minted MKR in exchange for DAI.
The proceeds from the sale will be used to recapitalize the system and compensate the losses suffered by the borrowers who saw their Ethereum collateral auctioned off for zero DAI. As the stablecoin powers many decentralized finance (DeFi) applications, the stability of Maker is paramount for the entire ecosystem.
What happened to Maker?
The emergency procedure became necessary following a combination of events that left some of the DAI undercollateralized. As previously reported by Cointelegraph, the high Ethereum gas fees, combined with the rapid price decline, wreaked havoc on MakerDAO’s systems.
Maker’s Ether price feed oracle failed to update appropriately, and showed a higher price than the true market rate. A blog post by Maker Foundation further revealed that this delay helped some users escape liquidation by pouring in more ETH to the debt position.
Analysis by the research organization, White Rabbit, found that the combination of wrong oracle feeds and high network congestion allowed four separate wallet addresses to place zero DAI bids for over 62,890 ETH (~$7.1 million).
The bids were apparently made possible by what the analysts, and some community members, believe to be improperly configured “Keeper” software that is responsible for the auctions. The “lucky” bidders had seemingly modified their implementation to not “choke when gas prices skyrocket,” while their competitors with default implementations were left stranded by the Ethereum network. Other members went as far as speculating that the attack was premeditated.
Watching for more chart data.Marker is most moving side ways it's growing in volatility on daily time line but on the weekly the growth is not yet clear. If Maker can continue moving up then upside targets of 1000-1200 could become interesting. The biggest issue with this asset is not it's fundamentals or it's current TA. The lack of historical chart data to compare with is the most concerning for me. It's application to pay off debts in DeFi creates interesting possibilities. Though it's high $ price makes it less attractive to masses then very cheap cents per unit crypto regardless of the fundamentals of ether.
Scary fractal on MKRUSD. Big sell incoming?The similarities between the 10 September - 15 November 2018 and the 01 February 2019 - today price actions are more than visible. There is a very high chance of the pattern repeating itself is the 630.000 Support breaks. The target would be 365.000 where long term investors can buy again for the next bullish leg.
MKRUSD - Time for a stable dollar Major top at: 2750.11
Light blue horizontal lines are your targets.
Maker Weekly - Very bullishIf you don't know about Maker or Dai, drop everything to do your research now or regret it later
Trade Alert: Maker (MKR) Double Bottom ConfirmedThe altcoin is now up over 30% since the start of the month after bouncing off $360 on February 1.
MKR Weekly bullishIn my eyes MKR has a big chance of being one of the big ones in crypto space, like Ebay, Facebook, Google are on the traditional internet. Bet accordingly, only 1 million shares and they are being burned every day!
Key support/resistanceMKRUSD 1D support & resistance along with the last pennant & fib retracement from 2019 high
Trade MKR easily with this 1 indicator.Buy Green
Sell Red
it's mainly for swing trading, i use the 3 day / 15 day / monthly charts with it and it works perfectly,
it works good for stocks and cryptocurrency.
you will use heiken ashi chart style and turn on the EMA DOTS indicator.
once the indicator is on you will hide the heiken ashi so you only see the dots.
when a green dot appears you buy, if a green dot appears after that green dot you hold your investment.
if a red dot appears you sell your position. easy as that.
shorter time frames will be choppy.
larger time frames will be smooth.
MKR USDI recommend taking a Short Position on this coin.
The EMA (200) is currently below the price bar which signals a downtrend, the EMA (50) just recently crossed the price bar which could mean a further drop in price.
The RSI shows price line to be at 47% which means price could still move higher in the future.
Maker (MKR) Price up Due to Augur and a16z Crypto AnnouncementsMKRUSD price is up over 25% in the past 24 hours making it the biggest gainer today out of the 2,000+ cryptocurrencies. The reason is due to the $16 million investment into the platform by Horowitz's fund, and Augur's announcement that it will integrate DAI.
MKR hit its ATH back in January when the price reached $1673, so the market is still a ways away from that level, however the current price of $790 is not too shabby as it brings MKR back to May levels. It's hard to do market analysis on such a sudden jump but we can highlight some support and resistance levels based on trading volume and range.
The S&R levels are:
support 1 - $417
support 2 - $576
resistance - $825
The best news we can hope for is that MKR established new support at the $800-$825 range and doesn't drop down to either of the resistances at the $570-$600 levels.
