MKRUSD Coinbase - Looking for Entry

Jul 11, 2021

Here we have a coin that is still holding above the 200 day EMA though it had a few day dip below. The EMA trend is horizontal and the current price trend is down, and the volume and strength are slowing but we have a decent channel possibly forming. The candles show a possible reversal happening but this downtrend could continue a few days, but if the channel holds and if the price stays above the EMA we could have a good entry point. If I see a buy signal from the Supertrend I will look to enter. If the channel fails then I predict this coin will fall into an overall downtrend like most have the past month.