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MKR / TetherUS

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MKRUSDT trade ideas

MKR: Resistance BreakoutMaker (MKR) technical analysis: Trade setup : Price cleared the 200-day moving average and finally broke above $800 resistance after several attempts. Trends are improving and price made a Higher High. Upside potential to $1,000-$1,100 next. 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 $600 – $700 (previous resistance), then $500. The nearest Resistance Zone is $800, which it broke, then $1000 – $1100.
Long
by altFINS
1
MKRUSDT is loading a breakout?MKRUSDT recently experienced a false breakout from the daily resistance level, which is a key level that often represents a point of strong supply and demand. When the price breaks through this level, it can indicate a significant shift in market sentiment and a potential change in trend direction. However, in this case, the breakout turned out to be false and the price is currently inside a descending channel. The market will need to create a new breakout from the static resistance level at around $760 for any long continuation to occur. This level is another key area of support and resistance and is a crucial level to monitor as it can indicate the direction of future price movement. If the price breaks above this resistance level, we can apply Plancton's Strategies, a set of guidelines for identifying potential market movements, to help guide our decision-making and potentially open a new long position. According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ black structure -> <= 1h structure. ––––– Follow the Shrimp 🦐
by InkyGrip
12
Buying pressure has eased significantly over the past two monthsMKR has maintained its bullish trend over the past few weeks, but its buying pressure has eased significantly over the past two months. Therefore, the momentum of the Maker trend is still bullish, and considering that in the 4-hour time frame the price trend is still in the range, as long as the support of the $650-$672 range is maintained, we can expect a further increase in the price in the medium term. Also, the price trend in the 4-hour period is between the two resistance support levels specified in the range. The resistance of this channel is considered in the range of 798 to 940 dollars. Due to the presence of many minor support levels, we expect the trend to remain within a large range. But in general, by breaking each of the levels, the next specified ranges are used as short-term goals. These levels are the most important ranges of supply and demand. Therefore, if the price hits these ranges, we expect a price reaction. In this week and if the market conditions remain favorable, the direction of movement can be towards higher resistances.
by MonoCoinSignal
3
MKRUSDT is creating a huge pennantMKRUSDT is currently forming a pennant pattern. A pennant is a technical chart pattern that resembles a symmetrical triangle and is considered a continuation pattern. It forms when price consolidates after a sharp price movement and usually indicates a pause in momentum before the trend resumes in the same direction as before. Traders often look for a breakout from the pennant in the direction of the previous trend, confirming the continuation of the trend. However, the formation of a pennant is not a guarantee of a successful trade and requires careful analysis in conjunction with other indicators and market conditions. Within this pattern, the price broke out from a descending channel, which is a bearish trend characterized by lower lows and lower highs. The market is now testing a static resistance and support level. We are waiting for a breakout from the pennant and key level, a retest, and a new bullish impulse, following Plancton's Rules. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <= 1h structure. Follow the Shrimp 🦐
by InkyGrip
2