MKR/USDT Potential will be back test on the demand or support!
💎 MKR has recently encountered notable market dynamics, experiencing a significant rejection at a strong resistance area.
💎 There is potential for MKR to undergo a backtest on the demand area around $2530. If MKR shows positive signs in the demand zone, such as bullish candle rejections, it could bounce back upward and retest the strong resistance area.
💎 However, if MKR consolidates within the demand area with weak volume, there is a possibility of further downside movement, testing the support area around $2260.
💎 A bounce from the support area is necessary for MKR to continue its upward trajectory and establish a new leg up. However, if MKR breaks down below the support, it would be a bearish sign, potentially leading to a return to consolidation and a test of stronger support levels.
💎 There is potential for MKR to undergo a backtest on the demand area around $2530. If MKR shows positive signs in the demand zone, such as bullish candle rejections, it could bounce back upward and retest the strong resistance area.
💎 However, if MKR consolidates within the demand area with weak volume, there is a possibility of further downside movement, testing the support area around $2260.
💎 A bounce from the support area is necessary for MKR to continue its upward trajectory and establish a new leg up. However, if MKR breaks down below the support, it would be a bearish sign, potentially leading to a return to consolidation and a test of stronger support levels.
Do you Want to start trading like a PRO?
Follow a team of traders with 10+ years of experience?
JOIN FREE👉 t.me/+IaNzEzXsdiBlNDg0
🎖️Or Fully Upgrade Your Trading With Clean strategy, and PRO Crypto Signals 👉 shorturl.at/ikpAV
Follow a team of traders with 10+ years of experience?
JOIN FREE👉 t.me/+IaNzEzXsdiBlNDg0
🎖️Or Fully Upgrade Your Trading With Clean strategy, and PRO Crypto Signals 👉 shorturl.at/ikpAV
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.