MKR Technical Analysis
Key Insights
- MKR has seen a drastic rise since June 2023, an increase of more than 700%
- Apart from overall recovery, MKR shows a growing interest from investors and other crypto market participants
- In terms of future correction, MKR may reach a support zone at $2062 level
As of writing, MKR ranks 37th on CoinMarketCap with a market capitalization of $3,027,856,540
MKR Technical Analysis
On the daily timeframe, the asset has been showing an upward trend since June 2023, increasing from a minimum of $499 to a local maximum of $4045. At the same time, the increase in cost is accompanied by an increase in vertical volumes.
Volume profiles reflect market participants' interest in different price ranges. Currently, the price of the asset is correcting by more than 40% from the local maximum and is trying to begin recovery.
MKR Price Prediction
In the current market situation, we can expect further correction, and in the event of a sharp decline, the $2062 level could become a support zone. The POC (Point of Control) at $2062 indicates that this is the key level where the most trading volume is concentrated.
From this level we can expect a significant rebound, especially with the support of the market as a whole and the development of the altseason.
Users can buy MKR for fiat or crypto on SimpleSwap.
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