make sure you see this idea before sell your MAKER

Hello traders in this idea I wanna to show you one of the most popular DEFI coin ( MAKER) :

in this idea i want to talk about long term view of the MKR and also talk about the short term ; but first of all let's talk about the long term view :


for better understanding of the details i zoom out the daily chart to show you the long term view ;

you can see price already at weekly support and also near to the weekly trend line which is alignment with the 0.618 fib level ; so it's very hard for price to break it but maybe it's also possible to have shadow below it :



but you can clearly see price already in a giant triangle , so what price targets we can expect from the MAKER ?

as you the technical target of the triangle calculate in many ways but personally like to measures the targets by using the FIB levels :


i think it's very possible for the MAKER to reach at least the ATH but if the total market situations remains stable we can expect higher price target but the TAKE PROFIT area depends on your personal strategy . but I personally will sell 75% my MAKER at ATH and hold remaining 25% for higher price target because it's long term trade , you can puts your stop loss below the weekly trend line but i suggest to close your trade manually , because you must wait for the weekly close below it.

but let's talk about the short term ; here is 4H chart :


in the 4H chart you can see price tries to forming something like falling wedge but also it's very similar to the channel , but the important thing is that , as price dropping , volume started to decrease and also in the RSI created the upward channel so if your are looking for long position you can wait for the clear break out from the pattern and also retesting the 4h structure as support but it's depend on your strategy you can also buy some here .

I hope you enjoyed this analysis.
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