I invite you to review the chart of MKR in pair with USDT, on a four-hour interval. First, we will use the yellow line to mark the upward trend lines above which the price remains.
Going further, we can move on to marking support areas when we start a larger correction. And here, after unfolding the trend based fib extension grid, the first support is at the price of $1,537, and then it is worth defining the support zone from $1,410 to $1,343.
Looking the other way, we see that the price has been rejected by the resistance at $1,680, only when we manage to break out of it can we see an attempt to grow towards the resistance zone from $1,849 to $1,936.
Please look at the CHOP index, because you can see that the current price recovery gives an increase in energy for a new move, the RSI indicator shows a rebound with room for a further decline, and the STOCH indicator behaves similarly, which also has room for the price to go a little lower.
Going further, we can move on to marking support areas when we start a larger correction. And here, after unfolding the trend based fib extension grid, the first support is at the price of $1,537, and then it is worth defining the support zone from $1,410 to $1,343.
Looking the other way, we see that the price has been rejected by the resistance at $1,680, only when we manage to break out of it can we see an attempt to grow towards the resistance zone from $1,849 to $1,936.
Please look at the CHOP index, because you can see that the current price recovery gives an increase in energy for a new move, the RSI indicator shows a rebound with room for a further decline, and the STOCH indicator behaves similarly, which also has room for the price to go a little lower.