Mkrusdtsignal
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.
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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.
MKR target 185012h time frame
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We've been talking about MKR since July 14th. Now it broke the bullish flag(yellow arrow), which is a strong sign. Currently MKR is retesting this flag, and here is also the support of uptrend line. According to previous perspective and analysis(ref.1 and ref.2), MKR has higher target over 1800. Therefore, here is a good position to set trading plan.
TP: 1850~2000
SL: 1315
ref.1 Initial pump
ref.2 Continuation structure
MKR target 180012h time frame
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MKR is on the way to build 5 waves, already completed 3 waves from 500~1590. The most important thing here is where is the end of 4th wave(correction wave). According to structural support and 0.382 Fibonacci Retracement, 1350 is the potential end of 4th wave, also will be the start of 5th wave(final pumping wave), which target is 1800~2000. Therefore, we can set up a trading plan here.
TP: 1800~2000 / 2248
SL: 1220
MKR - was opening of DEFI season ) Buyer's area from where there was a 1000% increase last year
Someone is neatly absorbing all the sales and not letting them get near the $600 level
Price a clamping down in a flat bottom triangle.
if price made A break down move i will open a short. A breakup of the blue trend line i will open a long position. Tomorrow's daily will decide what a position I need opening.
If you like the idea, please "Like" it. This is the best "Thanks!" for the author 😊
P.S. Always do your own analysis before a trade. Put a stop loss. Fix profits in installments. Withdraw profits in fiat and please yourself and your
your friends.
MKRUSDT Wave Analysis (GLOBAL VISION)Hello friends.
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Everything on the chart.
Globally we're in wave of (IV).
Waiting for an upward movement either from the current price, or through a some update of the last low.
It all depends on btc, if btc will formed global triangle then yellow option,
if on bitcoin we get a complication to double zigzag(wxy) with updating the local minimum to the 25k region,
then the MKR goes to test the ~1200 zone and only from there it starts to grow, in any case, the goals are the same.
Entry: market and lower
minimal target: 7500
MAIN TARGET ZONE AT THE END OF BULL RUN: 10-12k$
Stop: (depending of ur risk). ALWAYS follow ur RM .
cancellation of growth,consolidation below ~0.001$
Risk is justified.
Good luck everyone!
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It's not financial advice.
Dont Forget, always make your own research before to trade my ideas!
Open to any questions and suggestions.