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MKRUSDT trade ideas

MKR: Approaching ResistanceMaker (MKR) technical analysis: Trade setup : A rare asset that has remained in an Uptrend throughout the recent market downturn , which indicates consistent demand from buyers. Now price is approaching $1,350 resistance, where it got rejected in August. We prefer to wait for price to either 1) break above $1,350 to signal continuation of Uptrend , or 2) pull to $1,000-$1,100 support area , which could be an attractive swing entry in Uptrend. 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 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 $1,000 – $1,100 (previous resistance), then $800. The nearest Resistance Zone is $1,350.
Long
by altFINS
MKR: Approaching ResistanceMaker (MKR) technical analysis: Trade setup: A rare asset that has remained in an Uptrend throughout the recent market downturn, which indicates consistent demand from buyers. Now price is approaching $1,350 resistance, where it got rejected in August. We prefer to wait for price to either 1) break above $1,350 to signal continuation of Uptrend , or 2) pull to $1,000-$1,100 support area , which could be an attractive swing entry in Uptrend. 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 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 $1,000 – $1,100 (previous resistance), then $800. The nearest Resistance Zone is $1,350.
Long
by altFINS
Support Retest Signals Potential UpsideFollowing its recent peak around $1,360, the cryptocurrency MKR underwent a significant shift in its price trajectory. Over the past few weeks, MKR exhibited a notable bearish momentum as it decisively breached the lower boundary of its previously established upward channel. A discernible pattern has emerged since then, with the price retracing towards the upper limit of its weekly range channel. Remarkably, this upper boundary aligns perfectly with a crucial support level at $1,000. This support level has been rigorously tested multiple times, consistently generating positive price reactions. These repeated interactions have culminated in an impressive 20% price surge for MKR. Currently, MKR is retracing back to this critical support level, ostensibly to retest the point from which the aforementioned price surge originated. In the event that a favorable response is once again witnessed at this support level, there is the potential for MKR to embark on a gradual and sustained upward trajectory. This ascent could carry the cryptocurrency towards the resistance zones situated at $1,400 and $1,600, marking a prospective continuation of its bullish momentum.
by MonoCoinSignal
10
MKRUSDT"Long Position on MKRUSDT We're currently observing a bullish scenario for MKRUSDT with several key factors supporting our position: 1. Trading above Trendline: The asset is currently trading above its established trendline, indicating positive momentum in the market. 2. Strong Support at .5 Fib Level: MKRUSDT is holding strong above the .5 Fibonacci retracement level, suggesting robust support at this key level. 3. Above the 20MA: The asset is trading above the 20-day Moving Average (MA), a short-term bullish indicator. 4. Approaching the 50MA: It's important to note that MKRUSDT is less than 2% away from breaking above the 50-day MA, which could trigger further bullish momentum. 5. Take Profit Target at $1372: We've set our take profit level at the current year's high of $1372, a strategically chosen point that aligns with the asset's historical performance. 6. Potential Wedge Pattern: There's a possibility of a wedge pattern forming, and we'll closely monitor how the price behaves around the take profit level. Our strategy will be adjusted based on the developments at this level. 7. RSI Indicator: The Relative Strength Index (RSI) is still rising and holding its trendline, indicating that there's room for further upward movement. Risk/Reward Ratio: We've assessed the risk/reward ratio for this trade, and it stands at an attractive 4.37. This means the potential reward significantly outweighs the risk involved in this long position.
Long
by ShiftSwings
MKR: Pullback in UptrendMaker (MKR) technical analysis: Trade setup : Trends have reversed to uptrend and price spiked up as high as $1,350, making a new Higher High (sign of Uptrend). However, it got overbought (RSI > 70) there and pulled back to $1,000-$1,100 support area, which could be an attractive swing entry in Uptrend. Upside potential back to $1,350. Maker is a well established DeFi platform with real users and revenues, which forms a solid foundation for investors looking to trade it. Trend : Neutral on Medium-Term basis and Uptrend on Short- and Long-Term basis. Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral). Support and Resistance : Nearest Support Zone is $1,000 – $1,100 (previous resistance), then $800, and $600 – $700. The nearest Resistance Zone is $1,350.
Long
by altFINS
MKRUSDT Bullish Pathway Unveiled💎 Elliot Wave Theory Insights: Based on the Elliot Wave theory, #MKRUSDT's primary trend leans bullish. We've observed a sequence of a 5-Wave upward movement, succeeded by an ABC correction pattern. 💎 Potential Wave Completion: This suggests that the initial major upward wave might have concluded, with the price now gearing up for the second significant wave. 💎 Consistent Retracement Patterns: Examining the retracements post each wave, a consistent pattern emerges: the first retracement halted around the 38.2% Fibonacci level, the second around 50%, and the current one near 61.8%. 💎 End of Correction Phase: Given this trend and the potential ABC structure, there's a heightened likelihood that the corrective phase is nearing its conclusion. 💎 Bullish Confirmation: For validation, #MKR needs to surge past the descending channel, propelled by robust buying momentum. Such a move would be a robust indication of the bulls reclaiming dominance. 💎 Price Target Projections: Should the trend turn upward, we anticipate the price targeting the 161.8% resistance, positioned at the pivotal $1600 mark. This suggests a potential price augmentation of roughly 55% from the existing support level.
Long
by MyCryptoParadise
MKR: Pullback in UptrendMaker (MKR) technical analysis: Trade setup : Trends have reversed to uptrend and price spiked up as high as $1,350, making a new Higher High ( sign of Uptrend ). However, it got overbought (RSI > 70) there and pulled back to $1,000-$1,100 support area, which could be an attractive swing entry in Uptrend. Upside potential back to $1,350. Trend : Downtrend on Short-Term basis, Neutral on Medium-Term basis and Uptrend on Long-Term basis. Momentum is Bearish but inflecting . MACD Line is below MACD Signal Line and RSI is below 45 but momentum may have bottomed since MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing. Support and Resistance : Nearest Support Zone is $1,000 – $1,100 (previous resistance), then $800, and $600 – $700. The nearest Resistance Zone is $1,350.
Long
by altFINS
3
#MKR/USDT 4h (ByBit) Ascending wedge on resistanceMaker is up-trending for a month but printed 3 shooting stars in a row, looks likely to retrace down to 100EMA support. ⚡️⚡️ #MKR/USDT ⚡️⚡️ Exchanges: Binance Futures, ByBit USDT Signal Type: Regular (Short) Leverage: Isolated (5.0X) Amount: 5.0% Current Price: 1270.0 Entry Zone: 1285.0 - 1340.0 Take-Profit Targets: 1) 1186.0 2) 1091.0 3) 996.5 Stop Targets: 1) 1418.0 Published By: @Zblaba CRYPTOCAP:MKR #MKRUSDT #Maker #DAO #DeFi Risk/Reward= 1:1.2 | 1:2.1 | 1:3.0 Expected Profit= +48.2% | +84.4% | +120.4% Possible Loss= -40.2% Estimated Gaintime= 1-2 weeks makerdao.com
Short
by TradingOn
MKR 4H Interval Chart ReviewHello everyone, I invite you to review the chart of MKR in pair to USDT, on the four-hour interval. As we can see, the price has left the bottom of the uptrend line. After unfolding the trend based fib extension grid, we can see that the price is currently holding a small support zone from $ 1117 to $ 1086, while we still have support at $ 959, however, when we fall below this support, we can see a quick move to the support area at the price $704. Looking the other way, we see that first there will be a resistance zone from $1192 to $1256, then we have a second zone from $1321 to $1414, and then a very strong resistance at $1531. Please look at the CHOP index, which indicates that the energy in the current downward movement has been used, on the RSI we are moving at the lower limit of the range, but on the STOCH indicator you can see that a large movement on the indicator results in a small price movement, which may translate into deeper declines.
by cryptodailyuk
MAKER DAO: Will It Get Exhausted Anytime Soon?Well, so far, based on my research, there is no fundamental evidence to back up the current price action on BINANCE:MKRUSDT Obviously, the price action is driven by speculators. I believe that BINANCE:MKRUSDT will aim at the next resistance level before any major pullback. Watch out for $1500-1600 level on the chart. If this analysis makes sense to you, follow me now and support my idea. Also, I like to know what you think about the analysis. Share your thought with me in the comment box.
by CryptoNiche