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Maker

MKR: Approaching SupportMaker (MKR) technical analysis: Trade setup : After getting rejected at $1000 resistance 2x, price has pulled back to $600-700 support zone again, which could be an attractive swing entry in Uptrend with upside potential back to $1K-$1.1K resistance area. Momentum is inflecting bullish again (MACD Histogram rising). Maker is a well established DeFi platform with real users and revenues , which forms a solid foundation for investors looking to trade it. Trend : Downtrend on Short- and Medium-Term basis and Uptrend on Long-Term basis. Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish). Support and Resistance : Nearest Support Zone is $600 – $700, then $500. The nearest Resistance Zone is $800, then $1000 – $1100.
Long
by altFINS
2
MKRUSDTHello dear friends Due to the negative divergence of the RSI in the daily time frame, the possibility of completing the bullish wedge pattern at the end of the uptrend has been strengthened. 🔍 If the range of $719 is completely consumed, the possibility of reaction to the range of $806 will be strengthened and we can expect the continuation of the downward trend to the range of $605 and $536. ❗️❗️❗️ Note that if the $932 resistance range is completely consumed, the above view will expire. We would be happy to hear your comments
Short
by FiboTech
8
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
Will Maker Continue Its Rebound?Maker has rebounded recently, but how stable is this renewed bull run? What is Maker? Maker (MKR) is a decentralized cryptocurrency that operates on the Ethereum blockchain. It is a governance token used to manage the MakerDAO platform, which is a decentralized finance (DeFi) protocol. MKR has experienced some recent market trends and developments, so let’s the potential growth prospects of this cryptocurrency. MKR's Rally MKR has started rebounding from the descending channel that it has been stuck in since May 2021. It broke from its descending trendline it has been stuck in since August 2021, and crossed above the 200 Simple Moving Average (SMA), which acts as mobile support and resistance. These two indicators suggest MKR has turned bullish, and investors should keep an eye on this cryptocurrency. While MKR had a big day on Wednesday when it increased by 17%, it is unclear whether this strong rally will continue. Currently, MKR is slightly overbought, which means that the price may start to drop or range. Historically, each time MKR reached overbought levels on the Relative Strength Index (RSI), it started falling or ranging. However, it's essential to keep in mind that the RSI can be overbought for a few days, so it doesn't mean that it will change its current trend immediately. Support and Resistance If MKR starts retracing, the $700 and $500 support levels are ready to step in and halt the retracement. These support levels have been significant in the past and have helped to stabilize MKR during bearish phases. On the other hand, if the rally continues, the next resistance stands at $1,700. This level has been a significant support in the past. If MKR manages to break above it, it could lead to further growth in the cryptocurrency's price. Bottom Line: MKR recently rebounded from the bear market and crossed above the 200 SMA, suggesting that the cryptocurrency may be turning bullish. However, it is uncertain whether this rally will continue, and investors should keep an eye on the support and resistance levels mentioned above.
Long
by cryptohopper
MKR to 1000+ when eth makes its next big move.As you can see on the chart (daily TF) MKR has had a nice move off the bottom and Accumulation Distrubition looks very bullish. DAI is as strong as ever. RSI has respected 50 line and looking to bounce with a nice looking candle pattern. Pullback before possible 1k pop will be 640-650 range. Goodluck all I am in a VERY LIGHT leveraged trade Entry @ 671.30 with no limit orders in my mind. I think this is a good price for a nice 50% gain in the coming days / monday tuesday next week.
by dcure
2
MKR: Resistance BreakoutMaker (MKR) technical analysis: Trade setup : Price cleared the 200-day moving average and finally broke above $800 resistance after several attempts. Trends are improving and price made a Higher High. Upside potential to $1,000-$1,100 next. Maker is a well established DeFi platform with real users and revenues , which forms a solid foundation for investors looking to trade it. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $600 – $700 (previous resistance), then $500. The nearest Resistance Zone is $800, which it broke, then $1000 – $1100.
Long
by altFINS
1
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
MKR/USDT(1D, 1W) Maker is Breaking long term downtrend line!Hello Traders and "longterm" investors in crypto :D:D, This chart indicates potential bottom of MakerDAO project. Breaking the longterm downtrend line and possible finished wave C could be nice and clear signal for market to rebound. After breaking the line we could wait for confirmation of line as a support. Also price action of Bitcoin is interesting which is forming similar "ending diagonal" like pattern. Could this be alredy bottom ? Chances are something like 60/40, and crypto market is highly dependant on Stock market (especially state of risky growth stocks). But after the moment when investors start to buy this growth stocks. RIght after they will deploy some money into crpyto where correction was above -90%. :) Consider your risk and do your own research for each specificic Cryptocurrency. This is pure speculation. Bear market can last entire year 2023 if central banks decide to do so (via interest rates and QT). Take care and trade safe.
Long
by Longevity_Contrarian
2
Market Maker Pattern with Multiple Long / Short TradesIf this Market Maker pattern plays out in symmetry to the left side, which is more visible even on the 5m chart, then there will be several long opportunities and several short opportunities with opportunity to either reverse positions right into the next drop or retrace. There is also a large red candle on the left side, seen on linked chart of 30m timeframe, that was only partially recovered and these red candles typically always get recovered by a corresponding green candle to the right side of the chart. Thatt gives additional strength to the idea that price will return to previous high of the structure to reclain the red candle. And each of these drop and recoveries is a significant percentage move, ranging from 9% to 30% and with 20x leverage that could make for a fairly safe and profitable series of plays. Of course, these patterns don't always play out completely symmetrical, but even if it fulfills a few of the moves or does so in smaller proportion to the moves on the left side, it's still a solid opportunity due to likelihood of move to upside to reclaim red candle and then likelihood of fulfillment of at least approximate fulfillment of the markdown / drop phase of the pattern.
K
by bitcalib
1
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.
Long
by cryptotalk_et
Maker possible scenariosour previous Analyze on Maker goes wrong. it happens usually in market, any way we are under dynamic resistance in daily and as you can see there is a pivot area in daily if the price could cross dynamic resistance and pivot, after a pullback to 800 we can get a long position(scenario 1), but I think we are still in a downtrend and Red line on the chart is more valid because Rsi is in overbought and also BTC should break down and will take everything down with itself, better to wait and watch exactly...
by Lamassu_Trade
1