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Price action in the MKRUSDT market has extended its upside correction towards the $1,200 resistance price mark. What’s more, technical indicators are more biased toward the opinion that the resistance price mark at $1,200 may be broken. Let’s take a closer look and see the possibilities in this market.
Maker Statistics:
MKR Value Now: $1,166
MKR Market Cap: $1,143,070,430
Maker Circulating Supply: 977,631
Maker Total Supply: 977,631
MKR CoinMarketCap Ranking: 38
Major Price Levels:
Top: $1,166, $1,200, and $1,300
Base: $1,150, $1,100, and $1,000
Maker (MKR) Proceeds Northwards
Price action in the Maker daily market maintains an upside focus after correcting upwards from the drawn upside-sloping trendline on this chart. The mentioned upward correction occurred in the past two trading sessions, and the current session has helped to maintain an upside focus after prices surpassed the $1,100 threshold.
At this point, the 9- and 21-day Smooth Moving Average (SMA) lines seem to be approaching a bullish crossover right below recent price activity. Also, the Stochastic Relative Strength Index (RSI) indicator lines continue to rise upwards towards the 120 mark. Consequently, this shows that buyers may be ready to push through nearby resistance marks.
MKR Faces Opposition From Headwinds
While Maker’s price action on the 4-hour market remains largely on an upward course, it could be seen that bears may be presenting some challenges along the way. Here, a red-price candle has just shown up, which represents the ongoing session. This has presented a minimal downward correction.
Nevertheless, price action remains above the MA lines, while the RSI just delivered a bullish crossover around the 40 level of the indicator. As a result, traders may anticipate that price action may receive additional thrust, which will propel price action into regions between the $1,200 and $1,300 mark.
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