MKR Daily Order blockMKR UPDATE: MKR nearing daily resistance but there is more uptrend from there as we can clearly see that there is daily OB at 2226.3 to be mitigated if considering a short on MKR
MKRUST trade ideas
Are we about to reverse ?As you may know, I am mainly looking at shorting assets like crypto for the coming days because of the fundamentals we are currently seeing at the moment with the US dollar. I came on this pair that could be interesting because of the huge spike it made and in my opinion will not sustain for long. For that reason, I would like to see price break below the last candle and potentially start to create lower market structure towards my targets while the US dollar stays strong...
MKR Double Bottom UpdateYesterday, I published this double bottom pattern of MKR as I'm in the wait-and-see mode for a possible scenario - 1) a breakout or 2) a price rejection.
The coin had a breakout on its neckline, thus lead to the activation of the bullish pattern as it nearly approaches our target profit area, I also put a protective stop loss, thanks to the .618 fib area to secure profits.
Overall, confluences of my trade include confirmations, resistance breakout, buy volume, and MACD
MKR Chart Review 4HIntervalHello everyone, I invite you to review the MKR chart on a four-hour interval. As we can see, the price has risen from the downward trend line marked with a yellow line, but currently we are moving in a visible upward trend channel, marked with blue lines.
Let's start by marking support places for the price and we can see that first we have a support zone from $1277 to $1220, but if the price drops lower, we have a second zone from $1173 to $1127, and then a third strong support zone from $1062 to $978.
Looking the other way, we can similarly determine the resistance areas that the price must face. And here we see that the price has currently fallen through the resistance zone from $1,350 to $1,407, but when we break out of it, we can see an increase to the area of the second zone from $1,498 to $1,563.
The CHOP index indicates that we still have a lot of energy to make a move, the RSI after the rebound shows an increase with room for the price to go higher, but looking at the STOCH indicator we can see that the blue line has exceeded the upper limit, which may cause increases and even give the price a rebound.
MKR Forming a Double BottomOn this chart on an hourly timeframe, MKR is forming a double bottom pattern, meaning it could potentially present a bullish trend. The plotted neckline or the resistance level is on the .382 fib level (from swing high to low) and added highlighted the candle wicks for backtesting the firmness.
Now, we're in the wait-and-see mode until we see two possibilities either 1) trend breakout and old resistance as a new support level or 2) rejection from the resistance level. If 2) happens the price would either consolidate or potentially a breakdown from the support line.
For now, since the price is consolidating as of the time of this writing, it is better to trade other alt coins until we see a price breakout/breakdown. I have a bullish bias with the coin, along with its trend in an hourly timeframe perspective.
Always plan your trades by putting a take profit and stop loss areas.
MKR Double BottomOn this chart on an hourly timeframe, MKR is forming a double bottom pattern at the 1264 support line, meaning it could potentially present a bullish trend. The plotted neckline or the resistance level is on the .382 fib level and highlighted them from backtesting.
Now, we're in the wait-and-see mode we see two possibilities either 1) trend breakout and old resistance as a new support level or 2) rejection from the resistance level. If 2) happens the price would continue to consolidate or potentially a breakdown.
For now, since the price is consolidating as of the time of this writing, it is better to trade other alt coins until we see a price breakout/breakdown. It is still in a bullish trend in an hourly timeframe perspective.
Always plan your trades by putting a take profit and stop loss areas.
Eyes on #MKR/USDT Diagonal Trendline and PWH $1305 resistance leEyes on #MKR/USDT Diagonal Trendline and PWH $1305 resistance level in 1-Hour TF!
If it breaks the Trendline open short. ASX:MKR looks heavy here.
MKR MKRUSDT MAKER LONG OPPORTUNITY Sept 20 2023Signal: Red -> Green
Context: Green
Structure Breakout
DISCLAIMER:
This is Not a Financial Advice. Please do your own research.
Possible fall for MKR currencyThis currency is placed in a cup pattern in the daily time, but this pattern is not yet formed in case of breaking the daily resistance at the price of 1410.
There is a possibility of growth of up to 80% for this currency.
But this failure is far from expected.
In the time of 4 hours, we have a divergence and the possibility of price return to two support ranges is possible.
The probability of falling in 4 hours is stronger for this currency
Unlock Your Potential: Seize the Perfect Opportunity with MKRUSDMKRUSDT presents a golden opportunity for savvy investors seeking substantial gains. Don't let this moment slip away - seize the chance to ride the wave of success and secure your financial future. Dive into the world of MKRUSDT and harness the power of this unstoppable bullish setup!
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.
MKR target rising channel4h time frame
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MKR creating a rising channel also can be regarded as bearish flag.
According to fibonacci retracement and structural support, the target could be set at 1160.
This trading plan has 2.5 risk to reward ratio.
TP: 1160
SL: 1332
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.
MKR ANALYSIS (4H TF)After the downward ch on the chart, it is pulling back towards the order block to collect orders. We are looking for sell/short positions in the red box
I have specified the targets on the chart. When we reach the first target, save some profit and then change the stop to entry
I also specified the invalidation level, closing 1 daily candle above this level will violate the analysis
Comment if you have any questions
Thank You
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.
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.
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.
Short idea for MKRMKR is starting its C correction wave according to the chart . this idea will lose if it has a daily close above 1285
MKRUSDT going to correctionAfter an active growth, the instrument entered into a corrective movement and formed a descending formation in the form of a triangle, indicating the predominance of sellers with a decrease in highs along the trend line. There are also two levels of support, behind which the stops of long participants have accumulated, allowing them to continue moving.
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.
MKRUSDT 1D#MKR moving inside the bullish flag and currently retesting the resistance cluster(0.382 Fibo and middle line of the channel). Let see what will happen next. I think we will see 0.236 Fibo level soon.
MKRUSD ❕ descending wedgeMKR and RSI chart formed convergence (4H TF)
The asset is moving in a descending wedge.
I believe that the price will bounce off the support.
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.
