$MKR
/USDT Technical Analysis Trade Strategy 🚀 🎯
1. Current Price: $2,145 (-5.71%)
2. Bollinger Bands: The price is near the Lower Band ($2,140), suggesting oversold conditions or potential downward continuation.
3. SAR (Stop and Reverse): $2,180 is the resistance level, confirming the current bearish trend.
4. 24h High/Low: $2,345 (resistance) and $2,125 (support).
5. Trend Indicators:
Short-Term: Bearish
Mid-Term: Weakening due to consistent sell pressure.
6. Volume: High 24h volume ($40.29M USDT) indicates active trading, but negative sentiment persists.
Trade Strategy
Entry Levels:
Aggressive Buy: $2,140-$2,125 (near the lower Bollinger Band and 24h low).
Conservative Buy: Wait for a breakout above the SAR level ($2,180) for confirmation of trend reversal.
Stop-Loss:
Place a stop-loss at $2,100 to protect against further downside.
Target Keys 🎯
1. Target 1 (Short-Term): $2,180
Near SAR level and middle Bollinger Band. A retest of this level is likely.
2. Target 2 (Mid-Term): $2,230
A potential resistance level if the price sustains above SAR and begins reversing.
3. Target 3 (Long-Term): $2,345
24h high and a critical resistance level where strong selling may emerge.
Additional Notes
Bearish Continuation: If the price fails to hold $2,125, expect the next support at $2,050 or lower.
Volume Watch: Increased buying near the current levels may confirm reversal opportunities.
Monitor broader DeFi market sentiment and news related to MakerDAO, as these can influence MKR price movements significantly.