🔥 Maker $MKR is on a strong run! After a +50.39% rally in the past 30 days, many traders are wondering: Will the momentum continue, or is a correction coming? Let’s break it down!
🔍 Market Sentiment
🟩 Bullish, but Overextended?
MKR has surged above key resistance levels, showing strong momentum, but some indicators suggest caution:
▫️ RSI(14): Above 60 → Momentum is still strong, but overbought risks exist
▫️ CCI: High → Possible short-term pullback
▫️ MFI: Elevated → Buying pressure may be fading
▫️ Price Above Upper Bollinger Band ($1,690) → Breakout or reversal?
💡 Key Takeaway?
If MKR holds above $1,655, it could push toward $1,700+. However, an overbought retracement may trigger a short-term pullback.
🎯 Trading Idea: Momentum Strategy
🟩 Potential Long Entry (Trend Continuation)
🔹 Buy Zone: $1,670 - $1,690 (Breakout confirmation)
🔹 Stop-Loss: $1,655 (Below Lower Bollinger Band for risk management)
🔹 Take Profit: $1,720 - $1,750 (Targeting previous resistance levels)
🔹 Risk-Reward Ratio: 1:3
🟩 ✔️ Confirmation Before Entering:
▫️ RSI holding above 65 → Momentum remains strong
▫️ ADX above 20 → Trend confirmation
▫️ Sustained buying volume → No signs of exhaustion
🟥 Potential Short Entry (Trend Exhaustion)
🔹 Sell Zone: $1,700 - $1,720 (If price struggles to break higher)
🔹 Stop-Loss: $1,735 (Above resistance level)
🔹 Take Profit: $1,650 - $1,630 (Possible retracement to support)
🔹 Risk-Reward Ratio: 1:3
🟥 ✔️ Confirmation Before Shorting:
▫️ Rejection from upper Bollinger Band ($1,690+)
▫️ Weak volume on bullish attempts
▫️ RSI dropping below 60 → Momentum fading
📊 Key Metrics:
💲Price: $1,680
⚖ H/L: $1,676 | $1,522
🚀 1H Change: +3.96%
🚀 24H Change: +6.82%
🟩 7D Change: +11.27%
🟩 30D Change: +50.39%
⛰️ ATH: $6,292 (-73.37%)
📊 24H Volume: $184.93M
💰 Market Cap: $1.43B
💡 Final Thoughts:
$MKR has rallied hard, but can the bulls maintain control? A break above $1,700 could fuel another leg up, while failure to hold support might lead to a pullback. Traders should watch for confirmation before entering!
📢 Will $MKR push higher or retrace? Drop your thoughts below! 👇
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