Yello, Paradisers! Is #MKR setting up for another leg down, or will the Bulls finally step in? The structure is clear; this could get ugly unless something changes soon. Let’s break down the #Maker setup:
💎#MKRUSDT is forming a Descending Leading Diagonal, a classic bearish pattern within a larger zigzag correction. This structure suggests that sellers remain in control, with each bounce being met by renewed selling pressure.
💎Price is currently reacting off the descending support near $1,160. While a short-term bounce toward $1,250 - $1,300 is possible, it remains within the bearish framework. The critical resistance to watch is at $1,333—a breakout above this level would invalidate the bearish setup and signal a shift in momentum.
💎If the bearish structure holds, the next leg down could take us to the strong support zone at $1,000 - $950. This is where buyers will have their last real chance to defend the trend. A failure to hold this level could open the door to a deeper correction.
💎RSI remains weak, showing no strong bullish divergence, signaling that momentum is still in favor of the sellers. The volume is declining, meaning the recent price action lacks strong buying conviction.
Strive for consistency, not quick profits. The market rewards discipline and patience—trade smart, Paradisers!
MyCryptoParadise
iFeel the success 🌴
💎#MKRUSDT is forming a Descending Leading Diagonal, a classic bearish pattern within a larger zigzag correction. This structure suggests that sellers remain in control, with each bounce being met by renewed selling pressure.
💎Price is currently reacting off the descending support near $1,160. While a short-term bounce toward $1,250 - $1,300 is possible, it remains within the bearish framework. The critical resistance to watch is at $1,333—a breakout above this level would invalidate the bearish setup and signal a shift in momentum.
💎If the bearish structure holds, the next leg down could take us to the strong support zone at $1,000 - $950. This is where buyers will have their last real chance to defend the trend. A failure to hold this level could open the door to a deeper correction.
💎RSI remains weak, showing no strong bullish divergence, signaling that momentum is still in favor of the sellers. The volume is declining, meaning the recent price action lacks strong buying conviction.
Strive for consistency, not quick profits. The market rewards discipline and patience—trade smart, Paradisers!
MyCryptoParadise
iFeel the success 🌴
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✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
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.
Want to trade like a PRO without the 15+ year learning curve?
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
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.