UnknownUnicorn2091450

MKRUSD Coinbase - Looking for Entry

COINBASE:MKRUSD   Maker
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.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.