MKR/USDT 4H Chart

🔍 1. Technical Pattern:
The chart shows a descending wedge (orange lines) that has broken out upward.

The breakout occurred on increasing volume (a signal of bullish strength).

The price is currently trading above a resistance line, which is now acting as support (~1980 USDT).

📊 2. Support and Resistance Levels:
Support (red lines):

1903 USDT – local consolidation support.

1801 USDT – strong support at the previous bottom.

1727 and 1632 USDT – fallback zones in case of strong declines.

Resistance (green and blue lines):

2120 USDT – first target after the breakout.

2168 USDT – another strong resistance from the previous consolidation.

2312 USDT – high resistance, potential target if the uptrend continues.

📈 3. Indicators:
🔹 Stochastic RSI:
Close to the overbought zone, but not yet giving a sell signal.

A short consolidation or correction may occur in the coming hours.

🔹 MACD:
The MACD line is above the signal and the histogram is still rising – a buy signal.

No signs of weakening momentum.

🔹 RSI:
The RSI is rising, but not yet in the overbought zone (>70).

Shows the strength of the trend, but there is room for further upward movement.

🧠 Summary and scenarios:
✅ Bullish scenario:
If the price remains above 1980 USDT, the next targets are:

2120 USDT

2168 USDT

Potentially 2312 USDT with continued demand

⚠️ Bearish scenario (less likely at this time):
If the price returns below 1980 USDT and does not regain this level:

Possible return to 1903 or lower (1801 USDT).