MKR saw a huge rise in May 2021 followed by a sharp fall due to the market conditions at the time. Ever since, it has failed to get close to making a new ATH. It is currently trading just above one of its long-term support lines and will be testing its long-term resistance (black line) over the coming days. The volume being traded is low so MKR will only break through the resistance if there is good momentum. Until then I believe it will hold above its support and continue to trade close to it.
In the event that there is enough volume to break the resistance, a strong bullish wave may form with potential mid to long-term targets marked on the chart.
Please note that this is not financial advice and I am not a financial advisor. All ideas are for educational purposes only :)
Please feel free to comment with your thoughts and ideas!
In the event that there is enough volume to break the resistance, a strong bullish wave may form with potential mid to long-term targets marked on the chart.
Please note that this is not financial advice and I am not a financial advisor. All ideas are for educational purposes only :)
Please feel free to comment with your thoughts and ideas!