AXSUSDTHi guys
We have a positive RSI divergence on the daily and hourly time frame, we have now reached an important support range!
If the price range of $7.64 is maintained, there is a high probability of breaking the downtrend line.
If the uptrend is above the $13.25 range, we will be issued a divergence confirmation.
What do you think?
Indicators
The Graph GRT Crypto Market after the ElectionsMy forecast is that we will see a bearish outcome for the crypto market after the November 8th Elections, especially for The Graph GRT, which is overvalued.
GRT/USDT short
Entry Range: $0.09 - 0.10
Price Target 1: $0.08
Price Target 2: $0.06
Price Target 3: $0.05
Stop Loss: $0.115
Theory Of Visualization And Powerful Concept For Trader 🌆In today’s TradingView Post, I’m going to talk about the one Concept that Nobody Talk About and It Is Very Useful For Traders.
You see, very often traders are bent on making trading a Right or Wrong endeavor.
The moment they place their Trade, they do it with an expectation of Profit. Now, on this trade.
And that’s the Wrong Mental approach to have, that’s the Wrong mentality to adopt in this endeavor. Because the Market doesn’t work like that.
To Trading requires clear rules about the actual trade execution as well as with regards to the mental condition.
Both requires training which on the one side can be achieved through Screen Time And Focus however Visualisation one the other side represents an Effective Concept to further strengthen the own Abilities off the Screens.
In This Post we Investigates the Concept of Visualisation and Try Make it to the Topic For Trader.
ok let's go
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"THE THEORY OF VISUALISATION"
Brain Studies provide a Strong Scientific basis for How and Why Visualisation works.
In Some Neuropsychology Research reveal that Thoughts Create the Same Mental instructions as Actions.
Mental Visualisation has an impact on many Cognitive Processes in the Brain Confirming the Brain is getting trained for the actual Physical performance during the Visualisation in other words We Stimulate the Brain activity through Visualising the same way as when Actually performing the Action.
The Thalamus is the Responsible Part of Brain which serves this Unique role , ranging from relaying Sensory and Motor Signals , as well as regulation of Consciousness and alertness It makes no distinction between Inner and Outer realities, Therefore , any idea that is Visualised intensively enough will take on a semblance of reality in the brain - the actual belief becomes neurologically real and the brain responds accordingly.
This effect has specifically been visible when people Meditated intensively on a specific goal over an extended period of time.
The Brain begins relating to that Meditated idea as of it were reality . During the research, Neuroscientists discovered Two VERY FUNDAMENTAL Characteristics the Brain that Help Visualisation Work the way it does..
First : the Brain thinks in Pictures
Second : the Brain cannot distinguish whether something is just Imagination or actually Experienced.
( And There are people who believe that pain and illness are not real. They usually also believe that the universe is essentially a figment of our imagination. How we got imagination without having a brain escapes me, but think “The Matrix” without an underlying reality .)
Lets Back To The Topic...
Just Remember this.
Brain Think In a Image And Cannot Distinguish Whether is Real or Not..
THE BLUE-PRINT
It was noticed that Visualisation creates Neural Pathways in the Brain which act as a Blueprint to be Followed in the actual Physical Performance concluding while Visualising the brain creates the same neural pathways as actually doing it.
Psychologist Sian Leah Beilock of University of Chicago has done Research in this Area and considers Visualisation an important aspect for setting any goal since much the Unconscious Brain is build around a Visual Construction of the world.
Many studies have confirmed that Visualising the performance actually improves the Execution in the Real World.
Neural Connections are formed and the Strength of the Connections is directly proportional to the intensity of the Individual's Imagination feeling strengthens the Neural Connections.
Famous Actor Arnold Schwarzenegger have confirmed to use Visualisation techniques to cultivate a sense of belief , build confidence and create momentum to realise their ultimate goals.
" The more I focused in on this image and worked and grew, the more I saw it was real and possible for me to be like him .” -
Arnold Schwarzenegger
" It’s the same process I used in bodybuilding: What you do is create a vision of who you want to be — and then live that picture as if it were already true .” - Arnold Schwarzenegger
TRANSFERRING THE CONCEPT TO TRADING
Finally , transferring this concept to Trading , Screen Time can be extended to Visualisation Getting into a Meditative mode and Visualising your Trading Plan and Rules helps to better Internalise them getting a clear picture of what to look for.
Additionally , different Trading Scenarios can be visualised like the Perfect Trade Including the location and setup, Reversal and Breakout situations.
Also Scenarios where a Sense of Anxiousness is Experienced can be Recreated during the Visualisation to Train dealing with the Respective Emotions and be better prepared in live Situations.
When a Concept is Visualised over and over , the Brain begins to respond as the concept was real the Respective Neural Connections are formed.
Ideas for Visualisation can be taken directly from the recent experience or trade reviews for example providing a clear focus on what to visualise.
As a result , those Concepts begin to feel more obtainable and Real Motivating other parts of the take intentional action the Physical World...
CONCLUSION
The Brain not know whether your Visualisisation is real or not and Try to Visualize Sweet and Bitter moments Over and Over in Trading to Create a Respective Neural Connection to build Confidence ,etc That will helping you in Trading..
END..
*Thank For Reading Guys
no more words.
Just Wishing you Profitable Weeks!!
Regard Valerus
Source:
Bladerunner 2049 Movies
Wallstreet Journal
Uctrading
A Brainstorm on BTC price movement in OctoberHi
I remember seeing the 19.150 price a lot this month. So I drew a line and checked how the price of BTC moved in relation to 19.150.
It is interesting to see that here are 6 very profitable trades formed this price. 4 long trades and 2 short trades. All with very little stop loss.
I might just play around and update this idea if I find something interesting.
Thanks for checking!
PCC Ratio is looking BullishI have an alert for when the 10-day moving average falls below .8. The PCC spends most of its time between.8 and 1 when the 10 moving average falls below .8 you can count on a bearish reversal in the market. As of right now, we are above that with plenty of room. The reason why I bring this up now is that if we mid-term rally I'm looking for a strong bull push followed by a reversal before we trend. Setting an alert on the PCC for .8 and 1 crossovers will keep you on the right side of the market.
Will Bitcoin ever break above it's old trend line? #2 Hey fellow traders and Bitcoin enthusiast,
A month a go I made chart labeled "will bitcoin ever break above it's old trend line?' It was met with overwhelming response from the community as it was my most popularity chart. The charts focus was a look into the indicator "BTC Log Rainbow" coded by BullRider802. I wanted to look even deeper into this chart and indicator and see if there is any confluence to it with any other indicator.... Well I have found one.
"HTF Log Curves Oscillator" coded by quantadelic is the one on the bottom and it's showing the same exact thing. So we have to different Indicators coded by two different coders literally telling us the same thing! As we can clearly see the HTF was in a clear trading channel bitcoins entire existence and then show's a breach in 2020 as the other did, price action then shows a quick recovery to the eventual lack of hitting the top of the channel and the ultimate break though the bottom.
What does this mean? To me, first off, It means the math and coding used is sound. Both indicators separate from each other are reacting in the same way, and we might need to pay attention.
Why do we need to pay attention? The age old saying in investing is why, what was previous support is future resistance. These could very well show us the next bitcoin top and or bottom.
The one thing that is for sure is they are both either showing a slow down in bitcoins parabola or a consolidation period. That still remains to be seen.
Follow along with me and let's find out together.
I would like to thank everyone who has recently followed me, liked the chart and the Tradingview team for recognizing my work and helping this view get out. Once again the support and response has truly been overwhelming.
Thank you.
Please feel free to comment your thoughts or questions down below.
Remember, WeAreSat0shi
Stay blessed!
BRIEFING Week #45 : Still some Incertainty in the short-termHere's your weekly update ! Brought to you each weekend with years of track-record history..
Don't forget to hit the like/follow button if you feel like this post deserves it ;)
That's the best way to support me and help pushing this content to other users.
Kindly,
Phil
BRIEFING Week #44 : A new Path for the FED ?!Here's your weekly update ! Brought to you each weekend with years of track-record history..
Don't forget to hit the like/follow button if you feel like this post deserves it ;)
That's the best way to support me and help pushing this content to other users.
Kindly,
Phil
SUSHI/USDT 1H - Clean Long This Week 📈Really nice signals on the hourly SUSHI/USDT chart thanks to AlgoBuddy. Riding this midterm uptrend in crypto with BTC, ETH, and alts all moving to the upside. Still think this pump has room to run, however we're not swaying from our mid-November downturn expectations. We shall see! Cheers.
Session Indicator to Visualize Trends and ConfimationsUSD showing signs of weakness across all sessions.
New indicator I’m working in this chart will show and track session levels.
The dollar index is taking a break as focus shifts to earnings and the upcoming elections.
A much needed break from one of the parabolic uptrend events.
First was the Uber hawkish fed where Powell told everyone he believes in the milkshake theory.
One indication I have been monitoring recently is cliff drop that is TLT/JNK.
It recently bounced off a multi-year support going back to 2014.
If you haven’t been following the bull rally idea I put out a few weeks ago.
Check it out. I put 2 weeks worth of updates on Dealer positional Gamma, Delta, Volatility, Levels and macro.
To remain on target to 3900 by OCT 31 we’re going to want to stay within what I call the “JAM BANDS”
I will prepare an update on JHQDX before Friday with what my thoughts will be for the reset on Monday.
The JHQDX reset is not followed as much, but the Gamma is picking up as the expiration nears.
VIX coming down is going to give the daily moves an even bigger intra day move to end the month.
A pullback into the JAM Bands on daily should be expected.
Market going down? What do you thinkDISCLAIMER: I DO NOT GIVE SOLICITATION TO BUY OR SHORT
Seems like market is continue its down trend based on pattern. What do you think ? OCTOBER 21 , 2022
I cover various stocks which can be profitable based on the stock charts and technical indicators. I try my best to explain as detailed as possible but your feedback is also appreciated
Before you enter a trade , one must learn how to master the charts as Stock charts play a big role in deciding when to buy or when not to buy. Technical Trading help in predicting price movements and have a risk management. Stock trading is like any other business and must be taken seriously. Lot of people lose money because they don't educate themselves and end up placing trades blindly which results in big losses
Stock charts is the major component day traders, swing traders, core traders use. Times and technology has changed and if you cannot adapt to the new methods , there is a high chance you will be left behind
Millions of shares are traded now using desktop , laptop or gadgets and stock charts is what majority of traders look at.
So , if you want to be a daytrader , swingtrader or coretrader learn how to read and interpret charts. There are lot of great books out there like Thomas Bulkowski's Encyclopedia of chart patterns and Steve Nison Japanese Candlesticks interpretation
Having someone experienced can also cut the learning curve time for a new trader. Trading does take time and with discipline , hardwork , dedication and most importantly Passion for this needs to be there.
BTC short on H4 using MetaWorld Crypto indicator suiteBTC on H4 (4-hour chart) formed a short-term rising trendline, bearish upon break of trend, which it did. Providing additional confluence was the MetaWorld Crypto indicator suite Advanced RSI indicator, which showed RSI at top of RSI Bollinger Band (potential overbought condition). Stochastic RSI also showed above 90 with K crossing D downwards. Entered short position with 5X leverage, a little late to the party (meaning I could have entered earlier), Stop Loss placed above recent resistance level $20,025 and Take Profit set to recent support levels. Will add to the position if Price Action retests the trendline and then continues to fall.
Matic : A Beginning for a FLY.As with almost every other cryptocurrency, Polygon (MATIC) has been on a bearish run throughout 2022. The price of MATIC declined by around 85% since January. It hit as low as $0.35 in June of this year. After finding support in that area, the price started to correct. Initially, it increased by more than 200% during the summer, reaching as high as $1.05 but failing to break resistance there. The price had corrective waves after that, and it hit as low as $0.69 in September. Nonetheless, the overall market sentiment has started to improve, as the price has increased by more than 25% ever since.
Considering the relatively large market capitalization that MATIC has, this increase has made MATIC supporters more bullish. This increase could be attributed to a plethora of factors, both fundamental and technical. Here is what our short-term analysis suggests:
Looking at our Polygon (MATIC) Technical Analysis study currently the price of Polygon (MATIC) is around $0.87, with high volatility in the 1-day chart. The trendline in the 1-day chart is ascending, indicating bullish momentum in this time frame. The new highs, however, are lower than the previous ones, creating an ascending wedge pattern. As the wedge gets narrower, a breakout is already created in the price of MATIC. Given that the upper trend line of the 1-day chart has already been penetrated in the last 48 hours, we could see the price surge in the coming days.
The long-term chart still remains bearish, however, as MATIC has a long way to go before reversing the long-run trend. But if it can break the strongest resistance near at $0.95 it will be easier to see Matic flying upwards to the next fib levels of $1.3 and $1.6 by the coming weeks. Given that Polygon’s all-time high was $2.93, MATIC may not aim for those highs quite soon, considering the bearish nature of the current market and the overall global state of the economy.
Indicators
The fear and greed index shows much less fear than in the previous months, where MATIC recorded a 14-month low back in June of this year. Moreover, greed is yet to take over MATIC traders, and it is unlikely to do so given the state of the market.
The RSI of a 1-day chart has been on the rise recently. It is approaching 70, meaning that the buying pressure has relatively increased. On the plus side, there is still more room before MATIC becomes overbought, meaning that the price could keep increasing in the coming days.
The MACD line of a 1-day chart recently went above the signal line, meaning that the momentum shifted and is now slightly bullish. The lines could easily converge, however, since the buying pressure is still not that high.
Both the 50-day and 20-day MA are currently below the price of MATIC, meaning that the trend is now upward. Moreover, the 9-day EMA is also below the price of MATIC, indicating that MATIC could find support naturally if it attempts a retracement.
Fundamental Analysis
Despite what technical factors suggest, fundamentals are the ones that have really impacted the price of Polygon (MATIC) recently.
First and foremost, the Web 3.0 gaming community has been quite engaged recently as the Polygon ecosystem continues to grow. A recent tweet by Polygon’s co-founder Sandeep Nailwal suggests that Polygon is now the biggest gaming blockchain in the crypto market.
Moreover, Polygon has been consistently working to create strategic partnerships globally. This partnership facilitates more cultural involvement, especially in the gaming community. Additionally, this partnership greatly promotes the development of the ecosystem as well as community engagement, which could be key in the future price of MATIC as well.
It is really amazing to see how much Polygon has grown as an ecosystem in recent months. More than 53,000 projects are working within the Polygon ecosystem. This number has increased by 60% since June and around 8 times more than at the beginning of the year.
Large companies such as eBay, Adobe, Reddit, and many more have found Polygon efficient and are currently using the Polygon blockchain.
It remains to see what Polygon may bring next in its realm, but it is certain that the community and the ecosystem may continue to grow.
MATIC Price Prediction
Based on this price analysis on Polygon (MATIC), we could expect another surge in the price of MATIC in the coming days.
MATIC could aim for $1 in the coming days, other things equal. However, the market remains relatively unstable.
Accumulation Area : $0.7 - $0.85
Distribution Targets :
Short Term Targets
Target 1 : $0.91
Target 2 : $0.97
Target 3 : $1.05
Longer Term Targets
Target 4 : $1.32
Target 5 : $1.62
Target 6 : $1.93
Target 7 : $2.36
Target 8 : $2.92
Takeaways
- Polygon has slightly increased recently.
Indicators suggest that the momentum is bullish for MATIC.
- The Polygon ecosystem has been growing at large rates in recent months.
- The price of Polygon (MATIC) could reach $1 in the coming days/weeks.
If you agree with the idea please do consider your likes for the work, and if you have any disagreement on the idea please drop your comments and let's learn from each other.
Nathnael B.
With Regards.
A combination of RSI and MACDThere are many indicators in the world of trading and each has its own minuses and pluses.
To smooth out the disadvantages and benefit from the advantages, you can use several indicators at once.
This trading strategy is based on the use of RSI and MACD .
Everyone knows that when a fast moving average crosses a slow one from top to bottom, it is necessary to sell .
When the fast moving average crosses the slow one from the bottom up, buy .
In this case, in order to open a position, the trader must wait for signals from one indicator first, then from the second, and only after that open a position.
On the ETH chart, we see that on November 6 , the RSI gave a sell signal. This signal alone is not enough, but after seeing it, you should be ready to open a deal soon.
On November 15 , the MACD gave a sell signal and already here the trader should open a short.
Where to set a stop loss and when to close a position is up to you, but there is an easy way.
Stop loss can be set for the previous maximum/minimum , and the position can be closed when the indicators signal the opening of a position in the other direction .
Specifically, in this position, a stop loss could be set for a maximum of 4880.85 on November 9 .
It was possible to close the position when the MACD showed a buy signal, the price had already fallen by 46% by that time.
As you may have noticed, the RSI sometimes shows premature signals , which is why it is important to wait for the MACD signal.
Positions at numbers 2 and 4 show that after the RSI showed a sell signal, the price went even higher , updating the maximum and only after the MACD signal it was worth opening positions.
Be careful, be patient.
Whoever knows how to wait gets everything.
my day trade plan on NETFLEX.Disclaimer: I do not give solicitation to buy or short
==
I cover various stocks which can be profitable based on the stock charts and technical indicators. I try my best to explain as detailed as possible but your feedback is also appreciated
Before you enter a trade , one must learn how to master the charts as Stock charts play a big role in deciding when to buy or when not to buy. Technical Trading help in predicting price movements and have a risk management. Stock trading is like any other business and must be taken seriously. Lot of people lose money because they don't educate themselves and end up placing trades blindly which results in big losses
Stock charts is the major component day traders, swing traders, core traders use. Times and technology has changed and if you cannot adapt to the new methods , there is a high chance you will be left behind
Millions of shares are traded now using desktop , laptop or gadgets and stock charts is what majority of traders look at.
So , if you want to be a daytrader , swingtrader or coretrader learn how to read and interpret charts. There are lot of great books out there like Thomas Bulkowski's Encyclopedia of chart patterns and Steve Nison Japanese Candlesticks interpretation
Having someone experienced can also cut the learning curve time for a new trader. Trading does take time and with discipline , hardwork , dedication and most importantly Passion for this needs to be there.
Swin trade on ORCL 1 hour chartDiscalimer: I do not give solicitation to buy or short.
=======================
I cover various stocks which can be profitable based on the stock charts and technical indicators. I try my best to explain as detailed as possible but your feedback is also appreciated
Before you enter a trade , one must learn how to master the charts as Stock charts play a big role in deciding when to buy or when not to buy. Technical Trading help in predicting price movements and have a risk management. Stock trading is like any other business and must be taken seriously. Lot of people lose money because they don't educate themselves and end up placing trades blindly which results in big losses
Stock charts is the major component day traders, swing traders, core traders use. Times and technology has changed and if you cannot adapt to the new methods , there is a high chance you will be left behind
Millions of shares are traded now using desktop , laptop or gadgets and stock charts is what majority of traders look at.
So , if you want to be a daytrader , swingtrader or coretrader learn how to read and interpret charts. There are lot of great books out there like Thomas Bulkowski's Encyclopedia of chart patterns and Steve Nison Japanese Candlesticks interpretation
Having someone experienced can also cut the learning curve time for a new trader. Trading does take time and with discipline , hardwork , dedication and most importantly Passion for this needs to be there.
The Cost Of Missing Your Best TradesWhat if your best trades were the ones you frequently do not enter?
There are not many positives in missing trades because it's money you're not adding to your trading account. You're losing more than money when you don't enter your best trades. Let's dig in.
Lost of confidence 😫
If you've ever said to yourself, "Why didn't I take the trade?" It's because you saw the setup. Your rules were met, but something inside of you couldn't push the button.
It could have been your own thoughts. You could have feared losing the trade in result losing money. Either way, you lacked the strength to push the button.
It's ironic how one button determines the fate of your abilities huh?
Hear this, you can begin doubting your ability as a trader when you don't take your setups. Remember that your eyes see first and you must take action regardless of your personal thoughts or feelings. You used logic to see the trade so use it to enter the trade.
Then let the trade tell you if you were wrong or right.
Risk of losing trades outweighing the trades you don't enter.
Have you ever looked at your trade journal just to realize you could be profitable if you'd enter all of your trades?
Most traders I consult with hesitate the moment they realize they have a good entry. Did you catch that? They don't question the analysis. They question themselves the moment it's time to hit the buy or sell button.
Like most traders, you're good until you have to show up to take action. This is common, but can also be the reason why you may not be seeing more profits than losses.
Revenge Anyone?
Revenge is a strong feeling. Taking action to get revenge results from the feeling of losing something so precious and your money is precious to you so it's only fitting you have a right to want it back.
However, money loss doesn't always come from trades you've enter. Consider this:
You see a trade. This risk to reward is 1:2. So you know you have a chance to double the amount you risk. You're excited. You see the outcome. So, you put a monetary value on the trade and realize if you win the trade you can win $1000. If you lose the trade you can only lose $500.
Something happens. You never enter. It could be for varying reasons. You weren't at your chart because you got busy. You got called in to go to work. Price reach where you wanted to enter, but you didn't like what you saw.
Either way you're not down $500. You're at a loss of $1000.
That leads me into my last point. The cost of missing your best trades setups is the risk of making the money you desire.
That $1000 could have gone a long way for you. It could have covered a car note. Paid your utilities for the month. Added more leverage to your trading account.
Either way it meant something to you, but you can't feel it because you feel like you missed out on it.
I get it. I've been there. You're not alone.
You are learning something though. You're learning you don't want to keep missing these setups so you're going to do something about it.
I have 3 suggestions for you. Let's see if you've thought of these:
* Adjust your timeframes so they fit your schedule
*Set pending orders
*Trade less pairs so you can focus on your best setups
Hear me well my dear friend, you may not always enter your best setups, but you can miss less.
Keep your trading easy for you. Don't overthink the entry. Don't tell yourself you're wrong. Trust me, the market will tell let you know if you're doing things correctly or not.
I pray you enjoyed this reading. If you have please like the post and share it.
Please share your thoughts below.
Many blessings to you,
Shaquan ❤️
Trading FlowchartThis is how every profitable trader that I know, makes money in the markets.
Know your Weekly, Daily, High, Low & Closing price levels
Know your intraday session opening prices
Look for swing highs and lows on your preferred trading timeframe
Buy High, Sell Higher
Sell Low, Buy Lower
Add to your winners
If the price turns 180º be prepared for sideways markets and take mean reversion trades
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.
NIFTY50 is looking Bullish.#NIFTY50 is looking Bullish.
🤑 Nifty is likely to be Bullish till it's above 16990.
❓ Reason: Because Nifty is very far away from Bears Target in ATM Machine Indicator on Hourly Chart.
🚧 Upside Hurdles: 17070, 17140, 17270, 17340, 17450.
🌈 Advice: 1.) Take reversal trade near these levels, or 2.) Wait for Breakout and Sustainability.
🟢 Positional Trend is Positive.
🔴 Long Term Trend is Negative.
📢 Disclaimer: We are NISM Certified so we don't hold any position in Nifty Future or Options as per SEBI guidelines. Take trades as per your own technical analysis, we are just educating you. We are not using any type of indicators for finding out of levels.
🙏🏻 Come to Learn, Go to Earn🙏🏻
✅ We are NISM Certified. ✅
☔If you find us useful, Please help the helpless near you.☔
☺Happy to Help.☺