Maker chart is interesting and odd at the same time. A rapid ascent followed by a slower correction that reached the bottom, making a big triangle form. MKR broke both the major and minor downtrend lines, and it seems posed for an upward impulse wave. Let's see what happens.
MKR has been holing the high ground despite market retrace.
Current testing a key resistance that will determine the trend.
Rejection could send us much lower, break could mark bottom in.
$ 3097.80 - 3134.35 is the immediate resistance to break.
$ 2813.57 - 2843.65 is immediate support and a must hold.
$ 3388.32 - 3413.60 is bears' last stand to deny "bottom...
Maker holding support around the : $3,255, we had a weekly candle wick rejection at the price mark of "$4,055". This was the same rejection we had back in 2021, Aug.
Resistance at= $4,065
Target!= $5,280
extended 5th vave from 1100 near completion
short term target around 3K
extended 5th is completely retraced
maker the canary in crypto mine
NFA
y axis only
my target is District level 1 in the trend based fib extension
To better understand this big target, it is enough to take a look at the project roadmap
MKR perform a good bullish wave, and already at support level.
We can follow bullish wave from this point, and aim for 13% profit projection at $2224
Best stop level below support at 1849
Good luck,
Don't forget to support this analysis to get a quick notification if I found a new key level
The Defi-Ledgend Makerdao is obvious on the road to 4k the question remains how this will playout exactly. As shown in the chart there is very little weekly resistance, but perhaps playground enough to shake out a couple bears in the worst scenario. On the other hand, there is little bearish about Makerdao, I mean look at this beauty....
Target 2024 Q2-3 - 4000$
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...
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...
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...
