MKR/USDT Keep an eye on the demand area, potential reversal!
💎 Paradisers, #MKR is indeed a coin worth monitoring closely.
💎 Currently, there's a potential for the price to retest the demand area around 2530 - 2400. Historical data suggests that MKR tends to bounce consistently when reaching this demand area.
💎 If this pattern repeats, MKR may test the resistance trendline after bouncing from the demand zone.
💎 Breaking above the resistance trendline is essential for MKR to sustain its upward movement and potentially reach higher levels or our target strong resistance area. However, if MKR fails to break above the trendline, it could face rejection and retreat back towards the demand area.
💎 Should MKR fail to bounce from the demand area, there's a possibility of a wick forming when testing the support zone, which was not touched after the re-accumulation phase. This could signal a rapid return to an upward trajectory.
💎 The bullish invalidation scenario would occur if MKR breaks below the support level at 2267, confirmed by a daily candle close below this level. Such a move could indicate a shift towards bearish sentiment and potential further price declines.
MyCryptoParadise
iFeel the success🌴
💎 Currently, there's a potential for the price to retest the demand area around 2530 - 2400. Historical data suggests that MKR tends to bounce consistently when reaching this demand area.
💎 If this pattern repeats, MKR may test the resistance trendline after bouncing from the demand zone.
💎 Breaking above the resistance trendline is essential for MKR to sustain its upward movement and potentially reach higher levels or our target strong resistance area. However, if MKR fails to break above the trendline, it could face rejection and retreat back towards the demand area.
💎 Should MKR fail to bounce from the demand area, there's a possibility of a wick forming when testing the support zone, which was not touched after the re-accumulation phase. This could signal a rapid return to an upward trajectory.
💎 The bullish invalidation scenario would occur if MKR breaks below the support level at 2267, confirmed by a daily candle close below this level. Such a move could indicate a shift towards bearish sentiment and potential further price declines.
MyCryptoParadise
iFeel the success🌴
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Follow a team of traders with 10+ years of experience?
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