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MKRUST trade ideas

MKR MAJOR RESISTANCE TEST?We now see that Maker has made it's move up near the old and major resistance around 1575 area (which you can look back to on both daily or weekly chart, around january 2021 and may 2022). With such a strong resistance, and high volitality BTC, I have three possible scenarios in mind (as shown on chart): 1. MKR tests resistance, manages to break out. If this happens and MKR holds, we may see prices try to get comfortable around 1675, 1775 area, or even up to 1900 (but don't hope). 2. MKR tests resistance, fails. This means we see price go up to 1575 area or even up to 1650 area but doesn't hold it and pulls back similar to second-last candle currently on chart. 3. MKR falls weak and breaks support. As Maker is lingering above current support, it is also probable that we may see a test of support and possible breakage, which could be a lot worse than the possible bull run (up to 400 poins down, but 200 points is more likely) How do we know which one will follow trough? We take context into account and we manage risk accordingly. MKR's movement greatly depends on BTC. Since recent BTC bullrun was mostly unexpected, hype-driven and fake-news-driven, we must take into account the weakness of that price action, and the possibility of a pullback. If the economic environment doesn't favor, BTC can't make any major moves (like 50k run). Since economy is NOT favorable (see bonds, dollar index and S&P), BTC's potential for longs is limited. Still, momentum is momentum, and currently it looks bullish, so, anything could happen. We must see it trough and adapt accordingly. So what do we need to place a position? A move on Bitcoin or a signal on MKR. A bullish pinbar maybe. An inside bar somewhere in the week maybe. Some news maybe. Something needs to happen to confirm one position or another, and even then, we must evaluate risk and take into account that markets are EFFICIENT, which means they are RANDOM and you cannot predict anything with 100% accuracy. You can only analyze the information the market gives and evaluate risk and positions according to it, minimizing the losses. Thank you for reading. Hope my insight was helpful!
by MatosPoljca
DAY TRADE 015BYBIT:MKRUSDT.P Goodmorning people once again we are back with another trade this morning once again everything is pretty high up in the air, but I feel mkr here has a nicely structured bottom as it seems to have grabbed its liquidity point. we are chipping away here day in day out, I want to show you guys what consistency does in a raw type of way... not just me on YouTube in front of the camera spilling some stuff, just me. each day. new trade. We are running this as a 1:7.9 Thanks guys.
Long
by RPMWealth-Capital
MKR/USDT Break the Falling wedge, Ready to continue Up ??💎 MKR is undeniably on our radar. Currently, MKR is rebounding from a demand zone and is exhibiting patterns consistent with a bullish falling wedge formation. 💎 The recent daily candlestick closure as a bullish hammer further emphasizes the potential upward trajectory for MKR. However, for a more concrete bullish confirmation, it's essential for MKR to break out of the falling wedge formation. Achieving this could set the stage for MKR to target the supply zone. 💎 On the downside, if MKR fails to maintain its position within the demand zone and closes beneath it, we might witness a descent toward the Bullish OB region. In this scenario, any upward movement from the Bullish OB zone would transform the previous demand zone into a supply zone since it was breached. 💎 For a continued upward journey, MKR would need to surpass this new supply zone. Failure to do so could hint at a more extended downward trend, possibly reaching the robust support zone.
by MyCryptoParadise
MKR/USDT 4HInterval ReviewHello everyone, let's take a look at the MKR to USDT chart on a 4-hour time frame. As you can see, the price is moving above the local uptrend line. When we unfold the Fib Retracement grid, we can see that the price is above the support zone from $1,487 to $1,456, and then we mark the second strong zone from $1,406 to $1,371. Looking the other way, we see that the price is fighting in a strong resistance zone from $1,497 to $1,542, when we break out of this zone higher, the next resistance is at $1,601. It is worth paying attention to the STOCH indicator, which shows that the energy exceeds the upper limits of the range, which may translate into a rebound in the coming hours.
by cryptodailyuk
1
Trading MKRUSDT with Elliott: The Flip from Supply to Demand⚪ As we analyze MKRUSDT's price action, a critical development emerges. The breach of a significant supply zone from August 2022 piques our interest. ⚪ What's even more intriguing is the transformation of this zone into a potential demand area, halting the current pullback. ⚪ This presents an attractive buying opportunity for traders and investors. Moreover, according to the Elliott Wave theory, #Maker may be in the midst of its 3rd upward wave, with our target set around $1895 (a 427.2% Fibonacci resistance). ⚪ Our strategy revolves around waiting for another higher high on the daily chart before pursuing a strong buying opportunity, which we'll promptly share in our channel.
Long
by CryptoPAMM
3
MKR/USDT 1D Review ChartHello everyone, I invite you to review the MKR chart in pair with USDT, on a one-day time frame. First, we will use blue lines to mark the upward trend channel, which contains data around the additional range. Going forward, the point of support will be marked in the event of a larger correction. And here, the first one is our support zone from $1,404 to $1,539, then the zone at the border from $1,292 to $1,209, and then there is a strong shock near the support level at $967. On the other hand, the price reached the important resistance zone from $1,476 to $1,565, from which it was rejected. However, if you manage to get out of this zone, it will be in the second zone from $1,773 to $1,864. Please check the CHOP index, which indicates that we have a lot of energy at the exit of the movement, the RSI indicator, which is visible near the outer area, making it difficult to determine the direction, but when displayed on the STOCH indicator, to display a rebound to the exit of the border and the original exit from the place because the price went higher.
by cryptodailyuk
MKR ANALYSISMKR has been on a strong upward trend for some time now. A bearish CH can be seen on the chart and we also have an order block resistance zone. We are expected to move down to the specified targets. I specified the invalidation level, closing a 4-hour candle above this level will violate the analysis For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
by behdark
MKR: Pullback in UptrendMaker (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. Price broke above $1,350 resistance, where it got rejected in August, which signals continuation of Uptrend. Now it’s pulled back to that $1,350 level, 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 Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral). Support and Resistance : Nearest Support Zone is $1,350 (previous resistance), then $1,000 – $1,100. The nearest Resistance Zone is $1,600.
Long
by altFINS