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MKR/USDT

Technical Outlook:

Price: 1843 USDT

24-Hour High: 1882

24-Hour Low: 1804

Bollinger Bands (BB):

Upper Band: 1878 (Resistance)

Middle Band: 1832 (Short-term support)

Lower Band: 1786

Support and Resistance Levels:

1. Support:

1830-1835: Bollinger mid-band level.

1785-1800: Lower band and support area tested by recent price action.

1750: Stronger support level.

2. Resistance:

1875-1880: Upper band, resistance that price is currently struggling to overcome.

1900: Psychological resistance level.

MACD Analysis:

MACD: -4 (a weak bearish signal).

DEA: 20 (the MACD line is below the signal line).

This indicates that the momentum is currently sideways or slightly downward.

Short-Term Scenarios:

1. Bullish Scenario:

If the price breaks the 1875-1880 resistance zone, it has the potential to rise towards the 1900 level in the short term.

If the volume increases, it can continue to 1950.

2. Consolidation Scenario:

The price may follow a sideways movement, fluctuating between 1830-1875.

The trading volume may remain low in this range.

3. Bearish Scenario:

If the price breaks the 1830 support, a pullback to the 1785-1800 area is possible.

If it falls below this level, 1750 can be retested.

Recommendations:

Short-term buying opportunity: 1830-1840 zone (low volume buying in risky zone).

Take profit zone: 1875-1900.

Stop loss: Close below 1780.