MKR/USDT (MakerDAO) on the 4H time frame

🔷 1. Trend and market structure
🔸 Upward channel:
The price is moving in a wide, ascending channel (orange lines).

The lower line of the channel was last tested on June 22, 2025, which ended with a dynamic upward bounce.

The upper limit of the channel reaches around 2,450 USDT.

🕸️ Market phase:
In the short term, the market was in a downward correction phase within the uptrend.

Currently, we see a strong rebound from support - a new uptrend is possible.

🔷 2. Key horizontal levels (support/resistance)
🟥 Support:
1,637 USDT - local support (the lowest level of the red zone), almost tested at the bottom.

1,717 USDT - very technical support, tested several times.

1,800 USDT – psychological level and local consolidation.

1,901 USDT – last support peak, currently broken upwards.

🟩 Resistances:
2,003 USDT – current price level, currently tested as new resistance.

2,129 USDT – strong resistance from previous peaks.

2,264 USDT – previous swing high.

2,433 USDT – upper boundary of the channel and technical level from historical peaks.

🔷 3. Price and candle behavior
Strong demand reaction at the lower boundary of the channel: long pin bar/bull's embrace at the lower boundary.

The upward movement was dynamic and uniform, which indicates high buyer activity.

If the price stays above 1,901 USDT – further increases are possible.

🔷 4. Technical indicators
🔁 Stochastic RSI (4H):
Currently in the overbought zone, just below the level of 100 - a temporary correction or consolidation may occur.

However, with a strong upward trend, Stoch RSI may "stick" to the upper band - it does not yet give a clear S/S signal.

🔷 5. Technical scenarios
🟢 Bullish scenario (continuation of growth):
Condition: maintaining the level above 1,901 USDT.

Targets:

TP1: 2,129 USDT

TP2: 2,264 USDT

TP3: 2,433 USDT (upper limit of the channel)

Stop-loss: below 1,800 USDT

🔴 Bearish scenario (rejection of resistance):
Condition: strong rejection of 2,003 USDT and return below 1,901

Targets:

TP1: 1,800 USDT

TP2: 1,717 USDT

TP3: 1,637 USDT

SL: return above 2,003 USDT

🔷 6. Final remarks
The current upward movement looks like a "V-shape reversal" reaction - a sharp turnaround with dynamic volume suggests strong buyer interest.

The key will be the reaction to 2,003 USDT - a breakout and retest can give a very good long entry.

Short positions are risky as long as the price is in the lower half of the ascending channel.