What is CELO?
Marché & ; Ticker : Maker DAO - MKR/USDC
Date : 7/11/2024
Horizon / Timing: Tactical Medium Term / 1 to 3 months
Scenario:
MKR has been moving in a descending flag since MARCH 2024 (Consolidation). This range forms a basis for a long-term perspective. We are waiting for a bullish impulse to test the upper part of the range before monitoring the token's ability to break out of the configuration.
At current levels, as long as 1250 remains a valid tactical support, a further rise towards 2060 is expected. In the medium term, 1680 acts as a confirmation level for the daily close.
Key technical elements :
- Flag configuration continues
- The RSI indicator is diverging and stands at 50%
- Moving averages challenged
- Key Fibonacci support adjusted at 1250, while Elliot wave shows upside potential towards 2060
Conclusion de l'idée d'échange : Acheter
- Max tactical target: 2060
- Tactical confirmation: 1600
- Tactical key support (Pivot) 1120 (Daily close)
Chart : Daily basis (Candle Stick) - Logarithmic
Indicators: Exponential moving average (21/34/89) - RSI (21)
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