MKRUSDT market structure through Support and Resistance levels
MKR / TetherUS BINANCE:MKRUSDT
1. MKRUSDT trading pair is in a global downward price channel .
2. Most of the time, MKRUSDT pair shows a positive correlation with BTCUSDT .
3. The violet zone is the price area where the most amount of volume was traded.
Through identification of areas of support and resistance , we identify areas in the market which will form barriers to the trading timeframe trend. We`ve defined our battlefield. Price then moves within the framework defined by these levels, back and forth between levels of support and resistance , based on the decision making of traders.
