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MakerDAO (MKR) could be on the verge of a massive correction following an impressive 173% bullish run, a technical analyst warns. 
Renowned trader Ali Martinez has sounded the alarm for MakerDAO (MKR) investors, pinpointing a significant sell signal on the weekly chart following an impressive 173% bullish surge.&nbsp; 
In a post on X, Martinez highlighted that the TD Sequential indicator had signaled a potential downturn for MKR, with a warning of a weekly close below $1,163, possibly leading to a corrective move down to either $1,037 or $935. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/MakerDAO?src=hash&amp;ref_src=twsrc%5Etfw">#MakerDAO</a> <a href="https://twitter.com/search?q=%24MKR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MKR</a> 
 <a href="https://twitter.com/hashtag/MKR?src=hash&amp;ref_src=twsrc%5Etfw">#MKR</a> <a href="https://t.co/SxP2QS5mRG">pic.twitter.com/SxP2QS5mRG</a> 
 <a href="https://twitter.com/ali_charts/status/1691688342381850845?ref_src=twsrc%5Etfw">August 16, 2023</a> 
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
The TD Sequential identifies potential trend reversals and exhaustion points. This signal, if validated, suggests that the recent bullish momentum could be losing steam, prompting traders and investors to exercise caution.&nbsp; 
The 100-weekly moving average at $1,295 has been indicated as a critical level to watch. Ali asserted that if MKR manages to close above this level, it might invalidate the bearish scenario proposed by the indicator. 
<h2 id="span-data-preserver-spaces-true-mkr-s-rollercoaster-ride-span">MKR’s Rollercoaster Ride </h2>
Notably, this downtrend follows the considerable gains MKR secured during June and July. The combined increase of 78.19% over these two months underscored MKR’s market potential to embark on solo rallies. 
<a href="https://thecryptobasic.com/2023/08/03/top-lawyer-says-xrp-only-altcoin-with-legal-clarity-in-us/">received legal clarity</a> 
<a href="https://twitter.com/Trader1PA/status/1691808625486934047?t=FVElG3vdhnFT_FzIg1tT1w&amp;s=19">begun</a> ...
<a href="https://thecryptobasic.com/2023/08/16/expert-identifies-makerdao-mkr-sell-signal-after-173-bullish-run/">Read more</a>

Expert Identifies MakerDAO (MKR) Sell Signal After 173% Bullish Run

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