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MKRUSD

MKRUSDTBINANCE:MKRUSDT has now faced a strong resistance line after a magnificent bull run that managed to raise the price from $500 to $1,250. It seems that this is the end of the upward movement of this currency. As we can clearly see, the 5 Elliott Waves are beautifully completed. But how far can the price correction continue and where is the best entry point? In my opinion, the range of 1150 to 1200 dollars can be a good entry point, and we can consider the 0.618 Fibonacci line as the target, which shows us the price of 800 dollars. But keep in mind that this is a long-term goal and don't expect a drop of several days to this point. ⚠️"Daily crypto market analyses I provide are personal opinions & not financial advice. Trading carries risks, so do your own research & seek advisor's help." Don't forget to like and comment
Short
by Madoir
6
MKR (Maker) Token Analysis 03/04/2021Fundamentals: Maker (MKR) is the governance token of the MakerDAO and Maker Protocol — respectively a decentralized organization and a software platform, both based on the Ethereum blockchain — that allows users to issue and manage the DAI stablecoin. Initially conceived in 2015 and fully launched in December 2017, Maker is a project whose task is to operate DAI, a community-managed decentralized cryptocurrency with a stable value soft-pegged to the US dollar. MKR tokens act as a kind of voting share for the organization that manages DAI; while they do not pay dividends to their holders, they do give the holders voting rights over the development of Maker Protocol and are expected to appreciate in value in accordance with the success of DAI itself. The Maker ecosystem is one of the earliest projects on the decentralized finance (DeFi) scene: the industry that seeks to build decentralized financial products on top of smart-contract-enabled blockchains, such as Ethereum. As of October 2020, DAI is one of the most popular stablecoins (cryptocurrencies whose prices are pegged to the USD or another traditional currency). It is the 25th largest cryptocurrency at over $800 million in market capitalization and it has more active addresses than USDT — the largest stablecoin on the market. MKR’s unique proposition lies in the fact that it allows its holders to directly participate in the process of governing DAI. Every holder of Maker tokens has the right to vote on a number of changes to the Maker Protocol, with their voting power depending on the size of their MKR stake. Some of the aspects of the protocol the holders can vote on are: Adding new collateral asset types to the protocol, allowing users to submit new cryptocurrencies to mint more DAI; Amend the risk parameters of existing collateral asset types; Change the DAI Savings Rate: holders of DAI tokens can earn savings by locking them in a special contract, and the Savings Rate impacts the profitability of that contract; Choose the oracles — entities whose goal is to supply trustworthy off-blockchain data to the Maker ecosystem; Upgrades to the platform. This ability to participate in the management of one of the largest stablecoins on the market is what drives the demand for MKR tokens and correspondingly affects their value. MakerDAO, the first entity inside the larger Maker ecosystem, was created in 2015 by Rune Christensen, an entrepreneur from Sealand, Denmark. The issuance and removal of MKR from the system is governed by a complex system of interdependent mechanisms designed to ensure that DAI is always fully collateralized by other cryptocurrency assets and its soft peg to the USD is maintained. There is no hard-coded limit on the total supply of MKR. DAI’s value is secured by collateral — other cryptocurrencies that are deposited by users when minting new DAI tokens and stored in so-called vaults — smart contracts on the Ethereum blockchain. During price downswings, the value of crypto stored in the vault might become insufficient to fully collateralize the corresponding amount of DAI. In that case, the Maker Protocol automatically initiates the liquidation of the vault’s contents, the proceeds of which it uses to cover that vault’s obligations. If the amount of DAI generated during the liquidation is not enough, the Maker Protocol mints new MKR tokens to sell and cover the remaining sum, thereby increasing the total supply. However, in some cases, the amount of DAI made from the auctions exceeds the necessary limit to ensure full collateralizations — then, it is used by the Maker Protocol to buy back and burn MKR tokens, decreasing their total supply. Thus, the supply of MKR is a dynamic value that changes depending on market conditions and the overall health of the DAI ecosystem. As of October 2020, the circulating supply of Maker tokens is about 1 million, worth more than $500 million. Christensen graduated from Copenhagen University with a degree in biochemistry and studied international business at the Copenhagen Business School. Prior to MakerDAO, he co-founded and managed the Try China international recruiting company. Technical Analysis: as we can see there is Hidden Divergence with MACD after an impulsive wave on its retracement which is the sign of Bullish Trend Continuation with more Power, there total of 3 Targets Defined with Fibonacci Projection the 3 TP gets Confirmed as price triggers the 2 TP as it is the extension level and it makes the 3 TP a sure Target.
Long
by BitonGroup
4
MKRUSD under heavy Resistance. Bearish below it, bullish above.Maker (MKRUSD) has had an incredible bullish run since June 12, being currently on the 6th straight green 1W (weekly) candle. This rally has taken a stop on the 1W MA200 (orange trend-line) two weeks ago but more importantly it faces an even stronger Resistance from the October 03 2022 High at 1165. This is taken from the previous Cycle and the early 2019 fractal where after MKR again broke above the Bear Cycle's Lower Highs trend-line and the 1W MA50 (blue trend-line), it failed to close above the October 08 2018 Resistance and turned into a wide and long-term Accumulation Phase for 1 year. As a result, we currently believe that until the price closes a 1W candle above the Resistance, it will most likely pull-back to the 1W MA50. If however it closes above the Resistance, this fractal will get invalidated and we will buy the bullish break-out towards Resistance 2 at 2300. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:MKRUSD
by TradingShot
MKRUSDT at monthly resistance, likely to come to monthly supportThe price has hit the confluence of monthly, weekly and daily resistances. It is experiencing the pull back from this resistance. I think this is pretty stromh resistance and has a higher porbability of holding the price for some time. Below this, there is a support level which is again a confluence of monthly, weekly and daily support levels which makes it a very strong support. Any dip to this support zone is for a buy. It is possible that the price visits this support zone. A long is definitely favorable in case the current resistance is broken and the price trades above it for a while.
by angela_altair
MKRUSD giving very clear breakout signalsMKRUSD is approaching the MA200 (1w) which is untouched since October 17th 2022. The price has already closed over the MA50 (1w) last week for the first time since March 28th 2022, giving a clear long term buy signal. A closing above the MA200 as well, is the next buy signal to take advantage of. Trading Plan: 1. Buy if the price crosses over the MA200 (1w). 2. Buy if it then closes over Resistance (1) as well. Targets: 1. 1160 (Resistance 1). 2. 1235 (Resistance 2). Tips: 1. The RSI (1w) is rising inside a Channel Up since October 2022, a sign of a market bottom and long term reversal into a Bull Market. Please like, follow and comment!!
CRYPTO:MKRUSD
by TradingBrokersView
1
MKRUSDT UPDATEThe situation with MKR is as follows: After the market crash, this cryptocurrency had one of the best performances and quickly managed to recover itself. One of the most important support levels for MKR is the support trendline that I have marked on the chart with a green color. This support trendline had been lost for some time, but finally, after two attempts, we were able to regain it. However, more importantly, it's the overall market situation that is not showing any interesting trend, so for me, it is important today candle closes above this support trendline, regardless of whether it is red or green. If this happens, the price of $685 could be a suitable entry point for buying, and my target would be the resistance trendline that you see on the chart marked in red, indicating a price of $800. Keep in mind that there is no certainty in this market, and we are only trading based on the data we see on the chart and sometimes with the help of news. Therefore, the best approach is to enter a trade with confirmation. In my opinion, the downtrend of this particular coin has been broken, and we can confirm it with the break of the structure. However, there is also a block order that I have indicated on the chart, which has acted as resistance twice and caused a price drop. Please don't forget to like and comment, and if you haven't already, follow me. I examine the cryptocurrency market trend every day and share interesting ideas here for free. Wishing everyone profit and success.
Long
by Madoir
MKR Maker Retracement to the Support after Overbought AreaIf you haven`t bought MKR before the crypto rally: Or sold it on the way down: Then you should know that the Crypto MAKER has recently experienced a period of being overbought, indicating a potential need for a retracement or pullback in the near term. Overbought conditions occur when the price of an asset has risen too quickly and may be due for a temporary correction. Considering the current situation, it is reasonable to anticipate a retracement in MAKER's price, with a potential target of the support level around $638. Looking forward to read your opinion about it.
Short
by TopgOptions
Long Maker at $721The crypto markets are warming up so I am back to trading. This summer will be epic with US govt messes, BRIC and who knows what else. It looks like the FED, Congress, IRS and Sam Bankman Fried are all the same! Out to get our money at all costs and they make the rules. Thats when I say "screw it" and just focus on the data. Maker daily chart shows price action is above 100 and 200 day moving averages. The daily volume has been low since March 11 when we dropped below $600. This is accumulation. The chart looks like early bull market stuff but I am only in for a trade. Stock markets closed until Monday. I will be selling above $800 before then if my speculation is correct! : ) Long MKR $721 Target $800 Stop Loss $688 This isn't financial advise of any kind. I am putting this information out for educational purposes only. Good Luck
COINBASE:MKRUSDLong
by CryptoPsych007
MKRUSD Golden Cross sending it to the ResistanceMaker is having a Golden Cross (1D) event. The first since August 24th 2021. The pattern is a Channel Up. Trading Plan: 1. Buy on the current market price and as long as the MA50 (1D) is supporting. Targets: 1. 1140 (beneath Resistance 1). 2. 1650 (beneath Resistance 2) as long as we get a pull back to MA100 (1D). Tips: 1. The RSI is holding over the 50.00 neutral level. Short term buy entries can be taken there. Long term though (as for example for Target 2) on the 30.00 oversold level. Please like, follow and comment!!
CRYPTO:MKRUSDLong
by TradingBrokersView
4
Buying pressure has eased significantly over the past two monthsMKR has maintained its bullish trend over the past few weeks, but its buying pressure has eased significantly over the past two months. Therefore, the momentum of the Maker trend is still bullish, and considering that in the 4-hour time frame the price trend is still in the range, as long as the support of the $650-$672 range is maintained, we can expect a further increase in the price in the medium term. Also, the price trend in the 4-hour period is between the two resistance support levels specified in the range. The resistance of this channel is considered in the range of 798 to 940 dollars. Due to the presence of many minor support levels, we expect the trend to remain within a large range. But in general, by breaking each of the levels, the next specified ranges are used as short-term goals. These levels are the most important ranges of supply and demand. Therefore, if the price hits these ranges, we expect a price reaction. In this week and if the market conditions remain favorable, the direction of movement can be towards higher resistances.
by MonoCoinSignal
3
MKRUSD - Consolidation or Downward Move?After around 6 months of hugely profitable trading with MKR we've received a Short signal from Crypto Tipster v2 - looking at the chart there's 2 possibilities from here. Either we're actually looking at a period of consolidation whereby the price isn'y going to do all that much within the current range until it reaches the end of this wedge in a couple of weeks; or we're going to experience a drop into the trading area below this wedge. Given how profitable Crypto Tipster v2 has been with MKR recently we're inclined to go for it, 10% on the Short should be acheivable, 20% is also not unlikely! If you enjoyed or agree with this idea - drop us a comment, like & follow! :)
KRAKEN:MKRUSD
by theCrypster
2