MKR/USDT : Anticipate a rally towards the 1200-1300 USDT range ?

In this MKR/USDT technical analysis, we delve into the potential trading opportunities for Maker (MKR) against the US Dollar Tether (USDT).

1. Buying Area at 850-880 USDT:
The MKR/USDT pair has established a significant buying area in the range of 850-880 USDT. Traders looking to enter the market may consider long positions within this range, taking advantage of the historically favorable risk-reward ratio.

2. Rally Towards 1200-1300 USDT:
Our analysis indicates a high probability of a potential price rally in the MKR/USDT pair. Following the establishment of support in the buying area, a bullish momentum can be expected till 1200-1300 USDT range.

3. Bullish Order Block Confirmation:
Adding to the bullish outlook, the presence of a bullish order block within the buying area (850-880 USDT) enhances the potential for an upward move.
This aligns with our analysis of the buying area as a strong support region and reinforces the probability of a bullish reversal.

Conclusion:
As always, traders are advised to practice proper risk management and stay informed about market developments while executing their trading strategies.