Technical analysis shows:
MKR is about to break through a key resistance level at $2969.
RSI is coming out of the overbought zone, indicating that a price correction is unlikely.
MACD shows that the strong uptrend is still in place.
Recent news is also positive:
Coinbase Custody will support the MKR token.
Grayscale Investments has added another 25,000 MKR to its portfolio.
The MakerDAO protocol is developing a solution for the DAI stablecoin with Bitcoin collateral.
All of these factors indicate that MKR has strong potential for growth in the short term.
Entry point:
Buy if the price breaks above $2969 and stabilizes above this level
Stop-loss: $2763
Target: Determine your risk tolerance before setting a target.
Note:
Do your own research and use a proper risk management strategy before entering any trade.
Are you ready to enter the trade?
Additional information:
Timeframe: 4-hour chart
Indicators: RSI, MACD
Support: $2763
Resistance: $2969
Disclaimer:
This analysis is for informational purposes only and should not be considered as trading advice.
Always do your own research and consult with a financial advisor before making any investment decisions.
MKR is about to break through a key resistance level at $2969.
RSI is coming out of the overbought zone, indicating that a price correction is unlikely.
MACD shows that the strong uptrend is still in place.
Recent news is also positive:
Coinbase Custody will support the MKR token.
Grayscale Investments has added another 25,000 MKR to its portfolio.
The MakerDAO protocol is developing a solution for the DAI stablecoin with Bitcoin collateral.
All of these factors indicate that MKR has strong potential for growth in the short term.
Entry point:
Buy if the price breaks above $2969 and stabilizes above this level
Stop-loss: $2763
Target: Determine your risk tolerance before setting a target.
Note:
Do your own research and use a proper risk management strategy before entering any trade.
Are you ready to enter the trade?
Additional information:
Timeframe: 4-hour chart
Indicators: RSI, MACD
Support: $2763
Resistance: $2969
Disclaimer:
This analysis is for informational purposes only and should not be considered as trading advice.
Always do your own research and consult with a financial advisor before making any investment decisions.