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MKRUSDT trade ideas

MKR USDT LONG SWING | MKRUSDT | LONG @ 860 - 900 | TP @ 910, 920, 930, 940, 950 | SL @ 760 | PATTERN = MORNING STAR | FTX | Swing trade idea. Kindly follow targets and stop loss. Will update with new targets once all 5 are achieved. Mostly trading with PNF charts, MACD, RSI, Stoch, BPI, Cipher, MA/EMA, Support/Resistance on hourly timeframes and higher time frames BINANCE:MKRUSDT BINANCE:MKRUSDTPERP BINANCE:MKRUSD COINBASE:MKRUSD FTX:MKRUSD FTX:MKRPERP KUCOIN:MKRUSDT BITSTAMP:MKRUSD
Long
by Coindatahouse
MKR/USDT : on buying areaMKR Mid-term (daily chart basis) 1 to 6 weeks Scenario : We expect a tentative of bullish exit from the current bearish trend as long as MKR remains 800 and 1020 in setback. An intermediate resistance area at 1470/1740 is acting as taking profit level on the short-term while 3580 is the standard target for the coming weeks/months Key Elements: The long-term trend analysis show potential towards 3580 as long as 430 strategic support remains valid The mid-term element as Mobile average and RSI are confirmed bullish signal MKR is outperforming ETH & BTC on a mid-term basis which allow us to keep this coin in portfolio Trade Idea : Buy Target 2 : 3580 (+266% from 1120) Target 1 : 1730 (+80% from 1120) Entry area 980 (in setback) Stop 800 (Daily close)
Long
by JeanJean1983
2
MKR : With a potential 50%-500% profit possibility for midterrm.Conclusion : - Maker ( MKR ) increased by 100% in the last 30 days. - Technical factors suggest that MKR could increase in the coming days. - Maker’s recent growth could be attributed to the poor performance of UST as well as ETH whalers that have pushed the price of MKR upward. - MKR could aim for $1,500 in the coming weeks, and further for $5000 in the months coming after, other things equal. If you do agree with this particular idea please don't forget to show your appriciation by dropping your likes. If you disagree with any of the issues raised in here please do consider to drop your comments and lets share ideas and lets learn from each other. With regards. Nathnael B.
Long
by cryptotalk_et
2
MKR : With a potential 50%-500% profit possibility for midterrm.Throughout 2022, Maker (MKR) has been in a downtrend, which is to be expected given that the whole crypto market has been bearish. The price of MKR has declined by around 80% since the beginning of the year. The price of MKR went as low as $570 in September of this year, the lowest in almost two years for Maker. Nonetheless, after finding support in that area, MKR has been in a correction. More recently, the price of MKR has increased by around 100%, making Maker one of the best performers in the market for the last 30 days. Buyer sentiment has improved significantly as traders are hopeful that this momentum may continue in the coming days/weeks. Here is a full list of some of the best performers of this in the market: Top 7 Day Gains | CoinMarketCap 🚀 🥇 Huobi Token $HT +76% 🥈 TerraClassicUSD $USTC +73.5% 🥉 Quant $QNT +16.7% 4. Ethereum Name Service $ENS +14% 5. Hedera $HBAR +13.2% 6. Maker $MKR +9.7% 7. Terra $LUNA +8.1% But before we estimate how the price of MKR can move, we have gone through both the fundamental and technical factors of Maker. When we come to the Technical Analysis part Maker has been on the rise in the 1-day chart. The price of Maker, however, failed to break resistance at around $1170, which coincides with the previous swing high of MKR. When looking at the 1-day chart, we could notice a possible rounding bottom pattern. Moreover, given the recent retracement of 23.6% at around 1032 USDT, we could see a potential cup-and-handle pattern form, which could be an indicator of a potential breakout in the coming weeks. The Fibonacci retracement levels suggest that the price of MKR has retraced to the 50% level at 882 USDT to be precise. While this level is not widely recognized as a Fibonacci level, many analysts take the 50% level as a legit level that the price can retrace. With buying pressure still high, MKR could use this support at $876 and aim for a higher price. We could see MKR retest resistance in the coming days, other things considered equal. Indicators The fear and greed index suggests that there is relatively less fear for MKR traders due to the recent increase in the price. The recent retracement has kept the fear factor quite eminent, but the overall sentiment has improved for Maker adherents. Both the 20-MA and 50-MA of a 1-day chart is currently below the price of MKR, suggesting that the short-term trend is now bullish. The same applies to the 9-EMA of a 1-day chart. The EMA line could momentarily act as support to the price if the latter attempts to decline further. The RSI of a 1-day chart was recently above 70, making MKR overbought. Hence, traders expected the recent retracement. Nonetheless, now the price is slightly below 70, meaning that the momentum remains bullish and that MKR could have more space for growth in the coming days. The MACD line of a 1-day chart is above the signal line and above the baseline, meaning that the momentum is quite bullish for Maker (MKR). However, the lines are currently converging due to the recent retracement, meaning that the momentum may shift easily in the coming days. Regarding the fundamental Analysis points there are various reasons why Maker has been performing well recently. One reason could be that its main competitor is not performing well. As you may or may not know, Maker fuels the production of DAI tokens, which is a direct rival to UST and LUNA. Since UST is failing to re-peg to USD, making DAI ultimately the better deal out of the two. According to experts, another reason for Maker’s recent increase in price is the increased support by institutional whalers. Statistics show that top ETH whalers alone hold millions worth of dollars of MKR tokens. More precisely, the top 500 ETH whales currently hold around $50 million worth of MKR tokens. More recently, MakerDAO has devoted to investing $500 million in US treasuries and bonds to hedge the risk from this bear market by diversifying the balance sheet of the project. Since Maker is a decentralized autonomous organization (DAO), the decision was done through the decentralized governance that Maker has. Such measures were perceived as necessary by many given the scandal that occurred with Terra (LUNA) and the UST stablecoin a few months ago. So What is MKR's Price Prediction look like then? Based on this analysis of Maker (MKR), we could expect the price of MKR to increase in the coming days given that it found support at $880. The price of MKR could retest resistance in the coming days, and it could aim for around $1,500 in the coming weeks. As for the longer run, MKR has recently hit the lowest point in almost two years. Because of that, traders could now argue that MKR has all the space it needs for growing in the coming months. The project in itself is quite promising, and with more institutional backing, we could see MKR for $5,000 in the coming months, ceteris paribus. Conclusion : - Maker (MKR) increased by 100% in the last 30 days. - Technical factors suggest that MKR could increase in the coming days. - Maker’s recent growth could be attributed to the poor performance of UST as well as ETH whalers that have pushed the price of MKR upward. - MKR could aim for $1,500 in the coming weeks, and further for $5000 in the months coming after, other things equal. If you do agree with this particular idea please don't forget to show your appriciation by dropping your likes. If you disagree with any of the issues raised in here please do consider to drop your comments and lets share ideas and lets learn from each other. With regards. Nathnael B.
Long
by cryptotalk_et