Short
Maker Faces Critical Juncture
Maker (MKRUSDT) is moving within a major downtrend, it has been red without any signs of relief. Currently, it is reaching a major support level in the form of 0.786 Fib. retracement, relative to the June 2023 - April 2024 bullish wave.
➖ If this support level breaks, around 1,260, MKRUSDT is set for a major crash.
➖ If this level holds, on the other hand, a small recovery can show up.
Which one is more likely to happen based on the current chart?
Recovery or bearish continuation?
➢ Seeing the weekly candle with a long upper shadow, indicates that the bulls tried to push prices higher and were rejected. The current chart setup favors the bears and a bearish continuation.
➢ It is likely the critical support level will breakdown and the next support range, below 1,000, will be tested in the coming weeks.
Thank you for reading.
Namaste.
➖ If this support level breaks, around 1,260, MKRUSDT is set for a major crash.
➖ If this level holds, on the other hand, a small recovery can show up.
Which one is more likely to happen based on the current chart?
Recovery or bearish continuation?
➢ Seeing the weekly candle with a long upper shadow, indicates that the bulls tried to push prices higher and were rejected. The current chart setup favors the bears and a bearish continuation.
➢ It is likely the critical support level will breakdown and the next support range, below 1,000, will be tested in the coming weeks.
Thank you for reading.
Namaste.
Trading Cryptocurrencies can be the hardest undertaking ever without the right trade-numbers, without accurate private-access information. Free is free, but the best always requires sweat, an investment. Since 2017 👇
t.me/masteranandatrades/8778
t.me/masteranandatrades/8778
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Trading Cryptocurrencies can be the hardest undertaking ever without the right trade-numbers, without accurate private-access information. Free is free, but the best always requires sweat, an investment. Since 2017 👇
t.me/masteranandatrades/8778
t.me/masteranandatrades/8778
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.