Technical analysis for "MKR/USDT" - NUANCES ?
INTRODUCTION:-
Welcome to this technical analysis of the MKR/USDT trading pair. In this article, we will analyze the current market situation and provide insights into the potential price movements of Maker (MKR) against Tether (USDT).
## MKR/USDT Technical Analysis
### Support Level at 607-620 USDT
MKR/USDT has established a significant support level at 672 USDT. This level represents a price point where buying pressure has historically outweighed selling pressure, resulting in a bounce-back in prices. When considering the support level at 672 USDT, it's essential to analyze the market conditions, candlestick patterns, and overall sentiment to confirm its reliability.
### Can Go Upto 800-823 USDT
Conversely, the resistance level at 823 USDT presents a price barrier where selling pressure has historically intensified. Profit booking is must here.
### Trendline Break Confirmation
When a price breaks above a downtrend line, it signifies a potential shift in sentiment from bearish to bullish. Traders interpret this break as a confirmation of upward momentum and may consider opening long positions or adjusting their existing strategies accordingly.
#PLAN YOUR TRADE AND TRADE YOUR PLAN.
INTRODUCTION:-
Welcome to this technical analysis of the MKR/USDT trading pair. In this article, we will analyze the current market situation and provide insights into the potential price movements of Maker (MKR) against Tether (USDT).
## MKR/USDT Technical Analysis
### Support Level at 607-620 USDT
MKR/USDT has established a significant support level at 672 USDT. This level represents a price point where buying pressure has historically outweighed selling pressure, resulting in a bounce-back in prices. When considering the support level at 672 USDT, it's essential to analyze the market conditions, candlestick patterns, and overall sentiment to confirm its reliability.
### Can Go Upto 800-823 USDT
Conversely, the resistance level at 823 USDT presents a price barrier where selling pressure has historically intensified. Profit booking is must here.
### Trendline Break Confirmation
When a price breaks above a downtrend line, it signifies a potential shift in sentiment from bearish to bullish. Traders interpret this break as a confirmation of upward momentum and may consider opening long positions or adjusting their existing strategies accordingly.
#PLAN YOUR TRADE AND TRADE YOUR PLAN.