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MKRUST trade ideas

MAKER DAO: Will It Get Exhausted Anytime Soon?Well, so far, based on my research, there is no fundamental evidence to back up the current price action on BINANCE:MKRUSDT Obviously, the price action is driven by speculators. I believe that BINANCE:MKRUSDT will aim at the next resistance level before any major pullback. Watch out for $1500-1600 level on the chart. If this analysis makes sense to you, follow me now and support my idea. Also, I like to know what you think about the analysis. Share your thought with me in the comment box.
by CryptoNiche
**Cryptocurrency Trade Analysis - MKRUSDT**🚀 **Cryptocurrency Trade Analysis - MKRUSDT** 🚀 Hello fellow traders! 🌟 Let's delve into an insightful technical analysis of the MKRUSDT cryptocurrency pair on the 1-hour chart. This analysis is intended for educational purposes and sharing of ideas. Remember, trading involves risks, and this is not financial advice. ## **Chart Overview:** - **Trend:** Bullish 🐂 - **Divergence:** No - **Continuation Pattern:** Cup and Handle ☕👐 - **Breakout:** Awaited ## **Technical Analysis:** MKRUSDT is showing a promising uptrend on the 1-hour chart, indicating potential bullish momentum. The absence of divergence in this trend emphasizes its robustness. Furthermore, a fascinating Cup and Handle pattern has emerged, hinting at a possible continuation of the bullish trajectory. As of now, we're awaiting the breakout from this pattern. ## **Trade Plan:** - **Entry - Buy Stop:** 1261 - **Stop Loss:** 1235 - **Take Profit:** 1288 ## **Trade Rationale:** With the confirmed bullish trend, lack of divergence, and the formation of a Cup and Handle pattern, there's an intriguing chance to capitalize on the anticipated upward movement in the MKRUSDT pair. ## **Risk Management:** Remember, risk management is paramount. The suggested stop loss at 1235 helps safeguard against potential losses in case the market takes an unexpected turn. ## **Trade Execution:** Please be aware that trade execution can vary due to market fluctuations. Keep a close watch on price actions and ensure your trading platform is configured for pending orders. ## **Investment Advice:** Trading cryptocurrencies comes with substantial risk and may not be suitable for all traders. This analysis serves for educational purposes only and does not constitute financial advice. Always conduct your own research and consider seeking professional guidance before making trading decisions. 📚 **Keep Learning and Adapting:** Trading is a dynamic journey of continuous learning. Regularly refine your strategies, manage risk prudently, and stay disciplined in your trading approach. **Disclaimer:** This analysis is based on past price data and doesn't guarantee future outcomes. Cryptocurrency markets can be highly volatile and subject to rapid changes. Exercise caution and trade responsibly. #MKRUSDT #CryptocurrencyTrading #TechnicalAnalysis #BullishTrend #TradingView Wishing you successful trades and steady growth! 📈🚀
Long
by T-Q
1
Maker (MKR) has been trading above the breakout level of $1,200Maker (MKR) has been trading above the breakout level of $1,200 for the past few days, indicating that the bulls are attempting to flip the level into support. The 20-day EMA ($1,204) is sloping up gradually and the RSI is in the positive territory, suggesting that the bulls have the edge. Buyers will try to propel the price above the immediate resistance of $1,284 and challenge the local high at $1,370. A break and close above this level could signal the start of a new uptrend. If bears want to prevent the uptrend, they will have to quickly yank the price back below the breakout level of $1,200. That could open the gates for a decline to the 50-day SMA ($1,041).
Short
by cakpras
MakerDao's Wrapped Tokens: High Stakes, High RisksYesterday I was discussing with some Italian Twitter users about the risks of MakerDao. So here are a few reflections. First of all, an interesting thread directly from MakerDao. Now let's get straight to the point: How has MakerDao been functioning in the last year? After enabling ETH withdrawals, especially through LIDO, there has been a stake boom. In practice, users stake ETH and receive stETH (that wrapped stuff of dubious validity). This way, they can receive about a 4% yield, always in stETH. Note: Based on the news I have up to today, redeeming requires 2 weeks to get back your ETH. Remember that. But why settle for so little when you can do the trick? Lido allows you to wrap your fake ETH stETH again. And there it becomes wstETH. This "token" can only be used in one place: the MakerDao protocol. Why not stETH? Because it's staked and changes in quantity over time due to APY, while wstETH is fixed. Now you send this doubly wrapped token to the Maker protocol (vault) and receive a fresh and ready-to-use StableCoin, DAI, for your collateral (of dubious origin at this point). And what do you do with DAI? Coincidentally, MakerDao allows you to stake it with a respectable 8% APY!! Let's take a look at Maker's collateral situation... and we find that 46% of the collateral is wstETH 2.77bln$ ,with $1.23 billion DAI staked. All very nice, because both Lido and MakerDao are raking in fees as if there's no tomorrow. However, there's something that doesn't add up. Doesn't it seem like a distributed Ponzi scheme? A little here, a little there... someone has to lose out eventually. However, the main purpose is always to prevent tokens from entering circulation. So you make ETH "rare" by locking it on Lido and make DAI "rare" by locking it on MakerDao. ETH maintains its price stability, and DAI maintains its price stability. So my stake of a stake on wrapped tokens for another stake with collateral of collateral is ultimately "stabilized" and sufficiently secure. At least until something "serious" happens. What could be the inherent risks? First of all, a drop in the price of Ethereum will certainly trigger a chain of liquidations on the protocols. Collateral is lost, especially for MakerDao, which will immediately sell the locked ETH until the "value" of the borrowed DAI is recovered (out of thin air...). What remains, the user can withdraw... oh, but wait... they are wstETH. So they will have to take the wstETH and return them to LIDO to get stETH back, then close the position and get their ETH back... after 2 weeks (as far as I know now). This will unleash absolute madness, but above all, a ton of fees for Lido and Maker, who will see the protocol shake but at the same time generate profits at the speed of light. If we also add that there's no real Proof of Reserve for Lido, we could introduce the risk that the ETH has already been sold at much higher prices than buying back low to return them to users. Whatever happens... the current volume on MakerDao and Lido is showing very similar facets to past drops. Is it time to fasten our seatbelts?
Short
by STABLECOINS_GURU
6
MKRUSDT Technical Analysis 📈🐻 #MKRUSDT Technical Analysis 📉🐂 #Trend: Bearish 📉 #Divergence: Bullish 📈 #ReversalPattern: Falling Wedge Reversal ⬇️🔺 #BreakOut: Confirmed ✅ 📊 Analysis: In the 1-hour chart, MKRUSDT is currently in a bearish trend. However, there's an exciting development! The #RSI is showing a bullish divergence, indicating a potential trend reversal on the horizon. Additionally, the price action has formed a falling wedge reversal pattern, adding to the likelihood of a bullish move. 📈🚀 📉 Trade Setup: To take advantage of this setup, a BUY STOP order is suggested at Entry Price @ 1243. This approach will enable us to enter the market if there's a possible breakout to the upside. 📈💹 🛡️ Risk Management: To protect our capital, we'll set a Stop Loss @ 1211. This level is carefully chosen to limit potential losses in case the trade does not play out as expected. 🛡️❌ 💰 Take Profit Targets: We'll aim for Take Profit 1 @ 1276 and Take Profit 2 @ 1308. These price levels are chosen based on projection and represent attractive profit opportunities. 💹💰 📢 Investment Advice: As a technical analyst, it's essential to consider both bullish and bearish scenarios while managing risk effectively. Keep in mind that trading cryptocurrencies carries inherent risks, and past performance does not guarantee future results. Always use proper risk management and stay updated with the latest market developments. Good luck! 🤞🚀 #TradingView #TechnicalAnalysis #Cryptocurrency #MKR #USDT #BullishDivergence #FallingWedge #TradeSmart #InvestmentAdvice
Long
by T-Q
4
MakerDAO MKR price moves up in a decentralized mannerDespite the relatively high price, the Maker MKR token managed to double in price in a month . It turns out that now the MakerDAO ecosystem, which is one of the first projects on the decentralized finance (DeFi) scene, is now the locomotive that should once again accelerate interest in DeFi. At the moment, the MKRUSDT price is trying to gain a foothold above the important liquidity zone of $1050-1150. If it succeeds, it will only be a matter of time before it continues to grow to $1750-1850. If the MKRUSD price follows the red scenario, then the price zone of $630-730 can be considered a reasonable one for medium and long-term investments in the Maker Protocol token. _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
32
MKRUSDT Igniting the Bullish Fire💎Today, Paradisers, we delve into the compelling case for #MKRUSDT's long-term bullish potential and shed light on how far the price might ascend. The first signal of a trend reversal emerged with the break above the year-long wedge pattern. Following four months of consolidation, the uptrend firmly established itself. 💎 A crucial factor was the bounce off the 200 Exponential Moving Average on the 3-Day chart.. But then, a decisive break and close above the bounce point at $1080 further solidified the bullish sentiment. This level could potentially act as a key support in the future, should #MKR experience a pullback. However, MKR can easily continue its upward trajectory without any correction, leading to exponential growth. 💎 Now, when it comes to the uptrend, setting a target or identifying a resistance level is crucial. Our projected target near $2100 is derived from analyzing previous demand, current supply level, and the 88.6% Fibonacci retracement. If achieved, it would signify a nearly 100% price increase—a huge movement indeed. 💎 However, let us not get carried away in the excitement of the potential gains, as a pullback could also materialize. Hence, maintaining a calm approach and adhering to proper money management practices is paramount. 💎 Finally, we must remain vigilant and attentive to any signs of a new lower low forming, particularly if #MKR breaches below $831. Such an event would invalidate the bullish scenario, possibly signaling a return to a bearish market.
Long
by MyCryptoParadise
2
MKR/USDT Elliott Wave Analysis: Expecting 20-30% Down MoveMKR/USDT Elliott Wave Analysis: Anticipating a 20-30% Down Move In this Elliott Wave analysis of the MKR/USDT trading pair, we'll explore the current price action and wave count for Maker (MKR) against the US Dollar Tether (USDT). The analysis suggests a bearish outlook and the CryptoPatel is expecting a significant correction in the coming days. Please note that trading involves risk, and this analysis should not be considered financial advice. Overview: #MKR is currently trading at $1231, and the CryptoPatel identified an Elliott Wave count, indicating that the impulse wave has already been completed. The focus now shifts to the correction wave, which is expected to lead to a substantial move downwards. Elliott Wave Analysis: The CryptoPatel observed an Ending Diagonal pattern in the 5th wave, adding weight to their bearish sentiment. The Ending Diagonal is a bearish pattern, supporting the hypothesis of an impending corrective move. Short Entries: Entry 1: $1270 Entry 2: $1200 (triggered when the trendline is broken) Targets: The analysis predicts that the correction wave could lead to significant declines, and the following price targets have been identified: Target 1: $1035 Target 2: $950 Expected Downside: CryptoPatel is anticipating a minimum downside move of 20-30% based on the Elliott Wave count and the observed Ending Diagonal pattern. Stop Loss: To manage risk, the recommended stop-loss level for this bearish trade is set at $1365. Disclaimer: Trading cryptocurrencies involves substantial risk, and readers should conduct their research and consult with a financial advisor before making any investment decisions. The writer shall not be responsible for any trading losses incurred based on the information provided in this analysis. Follow us for More Quality Analysis. Thank you.
Short
by CryptoPatel
4