to accelerate the fall, the bears need to overpower
Maker (MKR) Technical Chart Data?
Over the Maker chart on a daily timeframe, it witnessed that the peak of $4075 was built after the bull run in the first quarter of 2024. Thereon, the price had fallen into a wedge and has followed this downward channel for nearly the next two quarters of 2024.
If the downtrend persists, then the channel could probably extend more by the end of the third quarter of 2024. However, to accelerate the fall, the bears need to overpower the $1850 level, which has proved sturdies in the long term.
Overall, the indicators are depicting bearishness, as 20-day, 50-day, and 200-day EMA are bearish. MACD was also in the bearish territory, and RSI was flashed at 39.02.
Therefore, the resistance levels are at $2091, and $2493, respectively. However, in case of further fall, the supports could be present at $1775, and $1567, respectively.
Over the Maker chart on a daily timeframe, it witnessed that the peak of $4075 was built after the bull run in the first quarter of 2024. Thereon, the price had fallen into a wedge and has followed this downward channel for nearly the next two quarters of 2024.
If the downtrend persists, then the channel could probably extend more by the end of the third quarter of 2024. However, to accelerate the fall, the bears need to overpower the $1850 level, which has proved sturdies in the long term.
Overall, the indicators are depicting bearishness, as 20-day, 50-day, and 200-day EMA are bearish. MACD was also in the bearish territory, and RSI was flashed at 39.02.
Therefore, the resistance levels are at $2091, and $2493, respectively. However, in case of further fall, the supports could be present at $1775, and $1567, respectively.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.