{"id":12615,"date":"2022-10-10T18:00:02","date_gmt":"2022-10-10T18:00:02","guid":{"rendered":"https:\/\/tradingshot.com\/?p=12615"},"modified":"2023-05-15T18:01:58","modified_gmt":"2023-05-15T18:01:58","slug":"mkrusdt-rejected-on-the-1d-ma200-bearish-unless-this-breaks","status":"publish","type":"post","link":"https:\/\/tradingshot.com\/index.php\/2022\/10\/10\/mkrusdt-rejected-on-the-1d-ma200-bearish-unless-this-breaks\/","title":{"rendered":"MKRUSDT Rejected on the 1D MA200. Bearish unless this breaks."},"content":{"rendered":"

 <\/p>\n

*** ***
\nFor this particular analysis on Maker we are using the\u00a0MKRUSDT<\/a>\u00a0symbol on the OKX exchange.
\n*** ***<\/strong><\/p>\n

The idea is on the 1D time-frame where\u00a0MKR<\/a>\u00a0is shown trading on its long-term bearish pattern which is a Channel Down (1) since August 23 2021 High. There is also a diverging Channel Down (2) that started on November 26 2021.\u00a0Maker’s<\/a>\u00a0impressive rise yesterday stopped just below the top of that Channel Down and even more so on its 1D MA200 (orange trend-line), which has been a major Resistance throughout this bearish trend.<\/p>\n

As you see, the last two emphatic rejections for\u00a0MKRUSDT<\/a>\u00a0have been on exactly on the 1D MA200 (April 05 and May 11 2022) and both resulted into strong sell-offs below the 1D MA50 (blue trend-line). With the 1D RSI rejected also on the 80.000 vastly overbought level (the highest RSI reading since April 22 2021), it is quite likely that the price will follow a similar selling sequence, on the short-term at least, towards the 1D MA50 or even the 4-month Support Zone (651.00 – 583.00).<\/p>\n

Yesterday’s rejection simply shows that technically, the coin remains bearish on its +1 year selling pattern. In order to see a reversal on its long-term trend to bullish, we need to see the candle closing above the 1W MA50 (red trend-line), which has been unbroken since December 09 2021.<\/p>\n

Tradingview link:<\/p>\n

https:\/\/www.tradingview.com\/chart\/MKRUSDT\/9KZ6ierJ-MKRUSDT-Rejected-on-the-1D-MA200-Bearish-unless-this-breaks<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  *** *** For this particular analysis on Maker we are using the\u00a0MKRUSDT\u00a0symbol on the OKX exchange. *** *** The idea is on the 1D time-frame where\u00a0MKR\u00a0is shown trading on its long-term bearish pattern which is a Channel Down (1) since August 23 2021 High. There is also a diverging Channel Down (2) that started<\/p>\n","protected":false},"author":611,"featured_media":12616,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1636],"tags":[],"class_list":["post-12615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/users\/611"}],"replies":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/comments?post=12615"}],"version-history":[{"count":2,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12615\/revisions"}],"predecessor-version":[{"id":12618,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12615\/revisions\/12618"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media\/12616"}],"wp:attachment":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media?parent=12615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/categories?post=12615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/tags?post=12615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}