Maker (MKR) has been the top loser of the week, with a correction of 13.11%. In April, MKR, a popular Layer 2 solution for Ethereum, experienced a sharp decline from $4,083 to $2,356. However, MKR quickly recovered and is now in an accumulation phase.
Currently, MKR is forming a bullish pennant on the daily chart, indicating potential upward momentum if the price breaks above the pennant's upper trendline. The critical demand zone lies between $2,660 and $2,468, and if this zone holds, an uptrend is likely.
Moving averages on the daily time frame suggest a strong sell signal, indicating short-term bearish momentum, while on the weekly time frame, they suggest a strong buy signal, indicating potential long-term bullish momentum. Oscillators on the daily chart also support a strong sell signal, while on the weekly chart, they remain neutral, indicating no clear dominance of either bulls or bears.
Currently, MKR is forming a bullish pennant on the daily chart, indicating potential upward momentum if the price breaks above the pennant's upper trendline. The critical demand zone lies between $2,660 and $2,468, and if this zone holds, an uptrend is likely.
Moving averages on the daily time frame suggest a strong sell signal, indicating short-term bearish momentum, while on the weekly time frame, they suggest a strong buy signal, indicating potential long-term bullish momentum. Oscillators on the daily chart also support a strong sell signal, while on the weekly chart, they remain neutral, indicating no clear dominance of either bulls or bears.
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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.