Although the sales pressure on Bitcoin is depreciated by the MKR depreciation of 11 percent, the bulls give strong signs for recovery. Altcoin investors observe position opportunities for short term. The critical levels waiting for the crypto market during the holiday holiday are as follows…
Mixed signals in MKR: decrease structure and bull momentum
Maker Dao’s (MKR) price increased by 6.7 percent in the last week. However, the sudden decreases of Bitcoin last Saturday, the value of the MKR with 11 percent of the value. If this decline had not been realized, the weekly earnings of the MKR would have been close to 20 percent.
The MKR Token seems to be quite likely to enter the rise trend again in the coming days. The daily graph of MKR reveals both a market structure that tends to decline and a infrastructure showing the bull momentum. This analysis emerges by examining the summit and bottom points.
While the long -term market structure determines the general trend, short -term trends defined as infrastructure offer clues about price movements. At the end of February, the rally, which exceeded $ 1635, pointed out a bull momentum in the short -term structure of the MKR.
However, in order to continue this positive structure, the price should not fall below $ 1115. The protection of this level causes cautious optimism for investors.
The on-Balance Volume (OBV) indicator also supports this view. In the last month, a stable purchase pressure was observed. Even withdrawal for $ 1115 at the beginning of March did not weaken bulls sufficiently.
Within the past three weeks, MKR prices recovered from $ 1115 and rose to $ 1309.
What do technical indicators say about the price of Altcoin?
The MACD indicator managed to rise above the zero line, but it does not indicate a strong bull momentum to be located just above this level. Nevertheless, the presence of the positive region shows that the tendency to rise in the market may continue.
Fibonacci levels also play an important role in the analysis. The price can be considered as a clue that can be over 78.6 percent in $ 1273, indicating that it is possible to recover.
However, bulls need to be careful due to the market structure that tends to decline. If the procurement pressure weakens, it may be necessary to get profit or damage quickly.
Liquidation map and target levels
According to the liquidation map, $ 1500 stands out as a strong gravitational field. In addition, the $ 1160-1180 range is also a potential region that can take the prices down.
Despite the losses on Saturday, Altcoin has generally maintained its tendency to rise in the last few days. If this short -term bull movement continues, the price seems likely to reach $ 1500 again.
Although the MKR gives positive signals in the short term, the general market structure is still unclear. In particular, the wavy movements of Bitcoin can directly affect the MKR. Although the target of the bulls exceeds $ 1500, it is useful to be careful.
