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MKRUSD trade ideas

MKRUSD Channel Up top hit. Pull-back expected.We last looked into Maker (MKRUSD) 4 months ago (see chart below) where we called for a buy that eventually hit our 1600 target: This time we are making a sell call as the price hit the top of the 5-month Channel Up. Our target is just above the 0.618 Fibonacci retracement level at 1500, which has been the pull-back level of the last two medium-term corrections within the Channel. It is likely that the market tests the 1D MA200 (orange trend-line) there, before it rebounds aggressively for the 2024 parabolic rally. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:MKRUSDShort
by TradingShot
Can $MKR Continue its Upward Trend MKR has appreciated by 28% since December 19, yet it remains significantly below its ATH. Given BTC's stable performance and a lack of major negative market influences, MKR's growth prospects appear strong. The current key resistance level for ASX:MKR is at $1633. Surpassing this could accelerate Maker's upward momentum, possibly leading to a new high near $1770. Should a correction occur, ASX:MKR might retreat to support zones at $1526-$1573, $1489, and $1397-$1442, with a further support level at $1362 being tested only if Bitcoin dips to $38,000. The price has broken through the ceiling at $1551 of a rectangle pattern. A decisive break will signal a further rise to $1817 or more. The currency has broken up through resistance at points 1570. This predicts a further rise. In case of negative reactions, there will now be support at points 1570. Volume tops and volume bottoms correspond well with tops and bottoms in the price. This strengthens the trend.
COINBASE:MKRUSDLong
by DEXWireNews
Maker's journey till now!Maker's journey till now The Maker token has been a stellar performer since its debut in 2017. Hitting the markets at ~$20, the initial listing sparked a year-long rally, soaring to ~$1,750, delivering an astounding 8000% return on investment! After reaching its peak in Jan '18, Maker underwent a necessary correction lasting two and a half years until Mar '20 making a low at ~$180. During this phase, the token experienced a substantial ~90% correction while concurrently initiating a parallel channel in Jan '18, following its peak at ~$1,750. Emerging from this corrective phase, Maker embarked on a remarkable rally in Mar '20, finding support from the parallel channel and surging an impressive ~3300%, ultimately peaking in May '21 at ~$6,350 after facing resistance from the parallel channel. Entering the second corrective phase in May'21, the token corrected another ~92%, bottoming out at ~$495 in Jun '23. However, Maker, resilient as ever, rebounded after making contact with the parallel channel in Jun '23, initiating a new rally that has seen a remarkable ~200% increase in just six months. As Maker charts its course, the next hurdle lies at ~$1,630. The journey continues, and Maker enthusiasts are eager to see where this impressive token will head next!
CRYPTO:MKRUSD
by aryan_chandel_tanx
Maker ($MKR) Can it Maintain it Growth Trajectory. Maker exhibits a continuing upward trend, moving fluidly with occasional technical corrections and brief pullbacks. Currently, Maker is nearing the resistance zone between $1,568 and $1,637, coinciding with the asset's yearly high. The primary objective for MKR now is to maintain its growth trajectory. Should buyers manage to break through the aforementioned resistance range expeditiously, MKR could potentially reach and stabilize around the $1,700 and $1,750 marks. This would likely be followed by a period of further temporary consolidation. The MKR price movement is still closely linked with the BTC performance. Therefore, any downward shift in BTC's chart could similarly impact Maker. In such a scenario, MKR may test its support zone at $1,370-$1,435 and could even drop back into the buying range of $1,212-$1,272. In the event of a deeper correction, MKR might be driven to test the buyer level around $1,130.
COINBASE:MKRUSDLong
by DEXWireNews
MKRUSD: Enormous upside potential, can hit 2,700.MKRUSD turned overbought (RSI = 71.689, MACD = 59.900, ADX = 32.319) as it extended the rally that basically started on August 25th. The wider pattern is a Channel Up and the current run carries similar characteristic with the first run of this Channel. The RSI patterns are identical and symmetry wise we have started the rise to the third peak of this sequence. We will first target the 3.0 Fibonacci extension (TP1 = 2,100) and on the next pullback, the top of the Channel Up on a +179% rise (TP2 = 2,700). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:MKRUSDLong
by InvestingScope
2
MKRUSD Buy confirmation above the 1W MA100.Maker (MKRUSD) broke and closed the 1D candle above the 1D MA50 (blue trend-line) for the first time in ten days, after rebounding on the Higher Lows trend-line. Along with the 1D MACD Bullish Cross, this is an initial buy signal that will get confirmed after the price closes a 1D candle above the 1W MA100 (red trend-line), which caused a rejection on August 02. When this happens, we will take the bullish break-out signal and target 1600 (+62% rise as the previous two rebound legs). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:MKRUSDLong
by TradingShot
5
✴️ Maker Hits Highest Price Since October 2022I am always surprised by these super expensive Altcoins and how they can grow and grow regardless of their super high price... Tells you how strong the market is. Here Maker has gone above the limits on the RSI and the MACD is now strongly bullish but allowing more. This bullish wave can continue with rest periods of 3-5 days followed by additional growth. We can see long lower wicks in mid-June followed by amazing bullish action and the highest price since October 2022, testifying to the strength of the market. While some people are still bearish on Cryptocurrency, it is obvious that 70%+ of the market bottomed May/June 2022, 20% bottomed Nov./Dec. 2022 with the remaining 10% of the more volatile projects hitting bottom this year. This tells us that based on 90% of charts/pairs/projects the bear market ended last year. Some people are still waiting for $15K while Bitcoin is now trading at $30K... Think about that one for a minute... In the meantime, we are bullish 100%. See you on the winning side. Namaste.
CRYPTO:MKRUSDLong
by AlanSantana
6
MAKERDAO MKR : Are you ready for the dump?Let's talk a little about #MAKERDAO and #MKR token. Did you know that this protocol works exactly like #Terra #Luna? Abstract from WhitePaper "If the Collateral Auction does not raise enough Dai to cover the Vault’s outstanding obligation, the deficit is converted into Protocol debt. Protocol debt is covered by the Dai in the Maker Buffer. If there is not enough Dai in the Buffer, the Protocol triggers a Debt Auction. During a Debt Auction, MKR is minted by the system (increasing the amount of MKR in circulation), and then sold to bidders for Dai." Now it's funny to see that it's exposed totally to stETH and wETH. And you know what? Where is your Staked BINANCE:ETHUSD ? Actually, the majority is on Lido, and Lido has a plan: blow another one exactly as happened with Terra / Luna. Has anyone ever seen a proof of reserve for all the Ethereum that has been staked on Lido, Aave, or MakerDao? LIDO STAKING TOTAL VALUE LOCKED ON MAKER Can you see? MakerDAO started losing total locked value slowly, but Lido keeps it up 'till the end. And now it's happening again... Funny Fact... MKR token pumped hard 3 days after the big crash. And it didn't lose too much value during the crash. And now this... So, beware. Someone is going to trigger MakerDao. When triggered, the protocol will enter a messy algo MKR issue to keep the DAI collateral and... you know. Terra Luna was fun... If timed right, MKR could be your next Lambo. ENJOYED? Feel free to share this idea on Twitter. Disclaimer: This information is not financial advice. It is for informational purposes only. Trading and investing involve risks, and individuals should conduct thorough research and seek advice from a qualified financial professional before making any financial decisions. The use of hashtags for indices does not imply endorsement or recommendation. Always exercise caution and use your best judgment when dealing with the financial markets.
COINBASE:MKRUSDShort
by STABLECOINS_GURU
6
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
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