45 MKR/USDT Elliott Wave Analysis: Anticipating a 20-30% Down MoveIntroduction:In this MKR Elliott Wave analysis of the MKR/USDT trading pair, we’ll explore the current price action and wave count for Maker (MKR) against the US Dollar Tether (USDT). This MKR price analysis suggests a bearish outlook, and the writer is expecting a significant correction in the coming days. Please note that trading involves risk, and this analysis should not be considered financial advice.Overview:MKR is currently trading at $1231, and the writer has identified an Elliott Wave count, indicating that the impulse wave has already been completed. This MKR USDT technical analysis now shifts its focus to the correction wave, which is expected to lead to a substantial move downwards.Elliott Wave Analysis:The writer has observed an Ending Diagonal pattern in the 5th wave, adding weight to their bearish sentiment. The Ending Diagonal is a bearish pattern, supporting the hypothesis of an impending corrective move. Based on this MKR Elliott Wave analysis, traders should be cautious of a potential 20–30% drop in the short term.Short Entries:Entry 1: $1270 Entry 2: $1200 (triggered when the trendline is broken)Targets: The analysis predicts that the correction wave could lead to significant declines, and the following price targets have been identified:Target 1: $1035 Target 2: $950Read More News: Solana Price Prediction | Litecoin Ready for a Major Bull Run | $BTC in a Falling Wedge PatternExpected Downside:Based on the current MKR Elliott Wave analysis, the writer is anticipating a minimum downside move of 20–30%. This bearish expectation is supported by the wave count and the presence of an Ending Diagonal pattern, both of which indicate potential weakness in the MKR/USDT pair.Stop Loss:To manage risk effectively in this MKR USDT technical analysis, a stop-loss level is recommended at $1365. This level helps traders protect against unexpected upward moves that may invalidate the current bearish structure.Conclusion:This MKR price analysis of the MKR/USDT pair suggests a bearish outlook. With the impulse wave already completed and an Ending Diagonal pattern observed in the 5th wave, the expectation is for a corrective move downward. Short entries have been identified at $1270 and $1200 (if the trendline is broken), with potential downside targets at $1035 and $950. Traders should always exercise caution and use proper risk management when applying any trading strategy. Please note, this analysis is for informational purposes only and should not be considered financial advice, as the market may behave differently than expected.
