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Will Maker Continue Its Rebound?Maker has rebounded recently, but how stable is this renewed bull run? What is Maker? Maker (MKR) is a decentralized cryptocurrency that operates on the Ethereum blockchain. It is a governance token used to manage the MakerDAO platform, which is a decentralized finance (DeFi) protocol. MKR has experienced some recent market trends and developments, so let’s the potential growth prospects of this cryptocurrency. MKR's Rally MKR has started rebounding from the descending channel that it has been stuck in since May 2021. It broke from its descending trendline it has been stuck in since August 2021, and crossed above the 200 Simple Moving Average (SMA), which acts as mobile support and resistance. These two indicators suggest MKR has turned bullish, and investors should keep an eye on this cryptocurrency. While MKR had a big day on Wednesday when it increased by 17%, it is unclear whether this strong rally will continue. Currently, MKR is slightly overbought, which means that the price may start to drop or range. Historically, each time MKR reached overbought levels on the Relative Strength Index (RSI), it started falling or ranging. However, it's essential to keep in mind that the RSI can be overbought for a few days, so it doesn't mean that it will change its current trend immediately. Support and Resistance If MKR starts retracing, the $700 and $500 support levels are ready to step in and halt the retracement. These support levels have been significant in the past and have helped to stabilize MKR during bearish phases. On the other hand, if the rally continues, the next resistance stands at $1,700. This level has been a significant support in the past. If MKR manages to break above it, it could lead to further growth in the cryptocurrency's price. Bottom Line: MKR recently rebounded from the bear market and crossed above the 200 SMA, suggesting that the cryptocurrency may be turning bullish. However, it is uncertain whether this rally will continue, and investors should keep an eye on the support and resistance levels mentioned above.
Long
by cryptohopper
BTC Might soon back !!!BTC took monthly support which was earlier resistance during the period of 2017,2019 and 2020. On weekly TF its in the range of lower high range with a bullish divergence on daily if it breaks 20500 then we can se 15k soon as per structure. Again on weekly if 25500 is broken then we might see the next bull run. Sentiments suggest positive for future but structure still remains down. Note : this is just a possibility of bitcoin in the upcoming period not a recommendation.
by traderpreneur1
Bitcoin short-term update - BTC at $24,888 see ideas from Aug 22Bitcoin short-term update (a) BTC overbought with perfect bounce at $24,888 - see my tweets from August last year👀 (b) correction to bearish target at around $23,455 would be healthy at all🐻 (c) next bullish target at $25,363🐂 Have a great day dear Crypto Nation😎 Let me know your thoughts in the comments🤗 ⬇️⬇️⬇️ Likes and Follow for updates appreciated🤗 Disclaimer: Not financial advice Do your own research before investing The content shared is for educational purposes only and is my personal opinion
COINBASE:BTCUSDLong
by Crypto4Everybody
9
EOS ready to breakout in the coming monthsEOS has a myriad of milestones being rolled out in the coming months & its chart shows some room to run along the way. I've added some target levels to watch, plus a few paths price can take. Short-term it may double-top and pullback to offer a better entry. Additional Confluence: There's a possible Adam\Eve or Cup & Handle forming. Price on 1D chart is currently above EMA200 & Golden Cross Approaching. I'll likely take a position after the pullback from the Double-Top or upon a breakout of the local resistance (red rectangle). 1. If the Double-Top plays out: I'll take a position at the neckline with a tight stoploss. Then re-enter just shy of the Double-Top measured move if my stoploss is hit (lookup Double-Top patterns if you're not familiar). 2. If price breakouts out: I'll take a 50% position upon breakout and then additional 50% on the retest (adding a generous stoploss below the original breakout point in case of deviation). coinmarketcal.com
COINBASE:EOSUSD
by CryptoCintron