This support is crucial for Makerdao to continue the uptrent.
This 750$ price goes whole the way back to 2018, it did not hold it there & leadet to a multi year bearmarket.
If it breaks this year below 700$ another multi year bearmarket is guaranteed.
They anyway nailed Makerdao to the ground from 6k, no words to discribe how insane this is.
Project like YFII...
A little lopsided
But the bottoming principle of the pattern is still evident
Could be an accelerative move incoming.
Post #LUNA and #Celsius #Defi has shown considerable strength
And looks to continue upwards.
Looks a good setup.
Head & shoulders, over a 90% fall from grace from this Bull top.
Retested resistance after the #UST / #LUNA debacle
Attacks on stable coins will continue, even over collateralised stables like #DAI
Makerdao 850$ is a great price to buy!
I have bought my previous ones in 2020 during the crash around 450$, this price is only a 100% more sinds then...
Im buying more no doubt!
Enjoy those prices, you are not going to see this anytime soon no more!
Smart money is about to enter the space 👍
Defi and cefi are future roles for crypto post reset
Maker Dao- the algorithmic dai stablecoin and the Maker token represent probably the safest defi ecosystem
Whilst a terra-luna repeat is not unfathomable- if you are looking for a defi bet this is probably it
There are some rumblings regarding the usdc stablecoin and some links to maker
Whilst i wouldn't...
Maker (MKR) will need to hold a major level of support at around: $1050.00. Any daily red candles that close bellow this level will be a concern, therefore pushing us further down to: $855.00 level. Not much support bellow the current level of support resulting in a -20/-30% drop! In order for Maker to remain bullish; will need to see a green daily candle close...
MKR is forming a possible bullish continuation pattern, and it has the most bullish DMAs in the entire market. If it can stay supported in this zone, there is a small chance in a fast continuation to the upside as demand piles in quickly. I give this about... a 5% chance of playing out, but it's worth looking at. If it breaks to the downside, targets are listed...
Follow up my to my last Video on April 7th.
I cover #BTC.D & #Total2
#stablecoins #USDT, #USDC dominance
Crash season looming September/October
#PlanB #Bitcoin Maxi's and #HEX
I know that title might sound a bit weird considering what we have just seen on the crypto boards in the last several days, but take a look at MKRUSD traders. We have a lower break rejection with short-term support. After this point was reinforced yesterday, we saw a 10% rally to close out Thursday. Today’s picture continues to look good, with a dominant trend...
This is a remarkable resemblance between Maker's (MKRUSD) price action since the May 2021 High with Bitcoin's (BTCUSD) Bear Cycle of 2018. I've mentioned numerous times that the crypto market's price action in the past +12 months can be viewed as a smooth (for crypto standards) Bear Cycle as a whole.
As for Maker's 2021/22 price action we see that it shares...
For anyone who doesn't know, MKR is the OG DeFi and they're closing deals; most recently with Tesla.
With that said, a STRONG trend line down has finally been broken with three green candles on the weekly and I believe there is going to be short term upside of 10-15% for anyone who is trying to trade this vs USD or against any similarly pegged stablecoin. If...
Possible Inverse Head and Shoulders Bottom.
Long entry with a break of the neckline with an uptrend. Price tried to break the neckline today but did not hold on. The 2nd shoulder is higher than the first which is preferable to a vice versa situation.
Possible flag forming and it would be called a Bull Flag as the pole goes up verses down like a Bear Flag...
Here is a chart with my prediction of local bottoms and tops if we happen to be in a bear market over 2 years. I chose COINBASE:MKRUSD as my metric because its current price action resembles the empirical price data from the former bear trend. I'm not saying this prediction is certain, however this chart seems to be in a similar pattern.
I have been...