{"id":176339,"date":"2023-10-18T09:36:18","date_gmt":"2023-10-18T04:06:18","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=176339"},"modified":"2023-10-18T09:36:18","modified_gmt":"2023-10-18T04:06:18","slug":"makers-short-term-pullback-persists-can-mkr-sellers-benefit-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/makers-short-term-pullback-persists-can-mkr-sellers-benefit-crypto-news\/","title":{"rendered":"Maker\u2019s short-term pullback persists \u2014 Can MKR sellers benefit?\u00a0 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><i><span style=\"font-weight: 400\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion<\/span><\/i><\/p>\n<ul>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">MKR cracked below $1.40 at press time as the retracement extended.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">High liquidation levels existed at $1350 and $1450 and could see strong price reaction.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/Maker+\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Maker [MKR]<\/span><\/a><span style=\"font-weight: 400\"> oscillated between $1488 and $1350 in the first half of October, allowing traders to exploit extreme levels. At price time, sellers grabbed a shorting opportunity after MKR faltered at the overhead resistance at $1488.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">Is your portfolio green? Check out the <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/maker-profit-calculator\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">MKR Profit Calculator<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">Short-sellers saw +5.6% shorting gains after MKR dropped below $1405 at the time of writing. A prior MKR\u2019s price <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/maker-assessing-whether-a-buying-chance-is-in-the-picture-now\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">analysis<\/span><\/a><span style=\"font-weight: 400\"> correctly projected a rebound at $1350. After faltering at $1,488, will the pullback extend to the short-term support?\u00a0<\/span><\/p>\n<h4>Will Maker sellers extend shorting gains?<\/h4>\n<div id=\"attachment_351573\" style=\"width: 1960px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/MKRUSDT_2023-10-17_15-07-40.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-351573\" class=\"size-full wp-image-351573\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/MKRUSDT_2023-10-17_15-07-40.png\" alt=\"Maker\" width=\"1950\" height=\"1109\" \/><\/a><\/p>\n<p id=\"caption-attachment-351573\" class=\"wp-caption-text\">Source: MKR\/USDT on TradingView<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">The $1405 was a key price reaction level since late September. A crack below it, as seen at the time of writing, could encourage sellers to extend gains.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Besides, MKR\u2019s short-term price trend flipped negative, as shown by price action below the 50-Exponential Moving Average (EMA). Other key price indicators were also negative, as the downsloping Relative Strength Index (RSI) and Chaikin Money Flow (CMF) demonstrated. It underscored a bearish scenario amidst a spike in selling pressure and capital outflow.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">So, sellers could drag MKR to short-term demand and H4 bullish order block (OB) at $1350 (white). An extended drop to the support will offer an extra 3.8%, shorting gains from $1405.<\/span><\/p>\n<h4>Key liquidation levels existed at $1350 and $1450<\/h4>\n<div id=\"attachment_351575\" style=\"width: 1236px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/MKR-liquidation-heatmap-.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-351575\" class=\"size-full wp-image-351575\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"Maker\" width=\"1226\" height=\"639\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/MKR-liquidation-heatmap-.png 1226w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/MKR-liquidation-heatmap--300x156.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/MKR-liquidation-heatmap--1024x534.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/MKR-liquidation-heatmap--768x400.png 768w\" data-lazy-sizes=\"(max-width: 1226px) 100vw, 1226px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/MKR-liquidation-heatmap-.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-351575\" class=\"size-full wp-image-351575\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/MKR-liquidation-heatmap-.png\" alt=\"Maker\" width=\"1226\" height=\"639\" \/><\/a><\/p>\n<p id=\"caption-attachment-351575\" class=\"wp-caption-text\">Source: Hyblock Capital (Liquidation level heatmap)<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">Liquidation data from Hyblock Capital marked out $1350 and $1450 as the immediate high liquidation levels (orange). For inference, high liquidation zones act as support or resistance zones and could also see strong price reactions.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">How much are <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-mkr-to-usd\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">1,10,100 MKRs worth today<\/span><\/a><span style=\"font-weight: 400\">?\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">Ergo, the $1350 was a demand zone and crucial high liquidation levels. So, the MKR prices could be dragged to the bearish target of $1350 due to liquidity hunting.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, traders should track BTC price action for optimized trade set-ups.\u00a0<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion MKR cracked below $1.40 at press time as the retracement extended.\u00a0 High liquidation levels existed at $1350 and $1450 and could see strong price reaction.\u00a0 Maker [MKR] oscillated between $1488 and $1350 in the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":176340,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-176339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=176339"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176339\/revisions"}],"predecessor-version":[{"id":176342,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176339\/revisions\/176342"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/176340"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=176339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=176339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=176339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}