Using basic Support and Resistance, i am expecting price to get to the take profit level marked out on the chart and if we go lower to the point of our invalidation level then the trade idea is no longer valid.
MKR looks like a new coin, so this is not for a daily trader because we do not have enough input. However, if you wanna analyze, you should look 3h charts.
Near long term resistance, under sell off resistance, RSI has higher lows. Good buy opportunity.
I think we've found the short term bottom. Depends on if BTC is positive of course. Goal: $600
Maker coin has a lot of buying power right now... it could possibly not be too late at all to jump aboard for some nice gains 🚀🚀🚀🤑
Nothing too serious just watching mkr regain some price and watching the volume.
On a 1D TF, MKR/USDT is in a Descending triangle, broke up with huge volume. (Note: Typical a descending triangle is a bearish pattern). Due to CBPRO listing, MKR broke out of the descending triangle pattern couple of days back and now it retested the 0.618 FB which is 511$ will definitely act as a strong support. One should consider entering this as an...
MKRUSD's movement has been very confusing for me.. It doesn't seem to react much to BTC so just a guess long term.
Might have a crazy pump in the coming days because of that coinbase pro listing would keep an eye on it.
Seems like this may be a break out with a little retest??? CBP Listing in two days!
This is a possibility with everything coming out next week for MKR seems like this could play out nicely..
If this support holds around .236 area I think this will go up from here until the post CBP Pump.
MakerDAO is the favorite of the decentralized dollar projects. DAI is going to be important in spreading a stablecoin into regions of the world that have no physical bank locations. In 3rd world countries, people will never have to interact with a bank like JP Morgan. They'll leapfrog to platforms built on top of DAI and BTC that have everything a traditional bank...