Binance Technical Analysis: $MKR

/USDT Insights

Let’s delve into the technical analysis for MKR/USDT, highlighting critical price levels and targets to watch:

Current Price: $1,408

MKR has recently seen a decline of 3.83%. Traders should monitor the support level at $1,402 for potential rebounds. A break above $1,451 could indicate a bullish reversal, with the price targeting $1,500.

Key Indicators:

24h High: $1,501

24h Low: $1,402

24h Volume (MKR): 8,396.37

24h Volume (USDT): 12.15M

Moving Averages:

MA(7): $1,453

MA(25): $1,450

MA(99): $1,557

Target Breakdown:

1. Short-term Target: $1,451

This level acts as a key breakout point. If the price moves above this threshold, it could signal increased buying pressure, paving the way for further gains.

2. Mid-term Target: $1,500

Reaching this target would indicate a bullish reversal. It represents a psychological level where traders may reassess their positions, potentially leading to additional upward momentum.

3. Long-term Target: $1,572

This target is based on historical resistance levels and indicates a potential high. Achieving this price could reflect strong market confidence in MKR, supported by positive technical indicators.

Stay updated as we continue to monitor these price levels and market trends!