Crypto analysts have highlighted potential bullish moves for two notable tokens, Varna Chain (VANRY) and Maker (MKR). According to insights on X by Bitcoin_Buddha and World Of Charts, both assets show technical signs of strength and reversal that could lead to gains.
VANRY, in particular, has demonstrated resilience with a bottom reversal pattern, while MKR’s breakout from a prolonged downtrend channel hints at an upward trend.
VANRY’s Reversal from Key Support Levels
Analyst Bitcoin Buddha observed a strong bullish reversal in VANRY’s price action. A breakout above critical resistance levels suggests a shift from bearish to bullish sentiment. The price bounced from a support level around $0.0673, marking a new foundation for its upward trajectory.
$VANRY is showing significant strength with a huge reversal on a bottom chart. Coupled with an amazing ecosystem and a team close to #Binance, the potential for long-term growth is undeniable. https://t.co/Wgr9DyqcoF pic.twitter.com/zZAA7xt5uI
— Bitcoin Buddha (@Bitcoin_Buddah) November 7, 2024
The support level at $0.0673 is now crucial for maintaining the uptrend, while intermediate resistance sits at $0.0800, close to the current trading price. If the token can sustain its momentum and break above $0.0970, it could confirm a bullish trend reversal.
VANRY’s Long-Term Potential Linked to Ecosystem and Binance
Bitcoin Buddha’s tweet suggests that VANRY’s ecosystem and links to Binance may positively influence its growth prospects. While technical patterns indicate opportunities soon, the backing of a strong ecosystem could fuel sustained interest in the token.
The analyst’s mention of VANRY’s ecosystem hints at a broader appeal, as projects associated with major exchanges like Binance often enjoy increased investor confidence and liquidity.
Read also: Why Is Lido DAO Pumping? Expert Outlines LDO Price Path to $3
MKR’s Breakout and Targeted Gains
Maker (MKR) has also displayed a positive technical setup, breaking out of a descending channel, as noted by analyst World of Charts. The breakout has signaled a potential trend reversal, transforming the recent downtrend into a new uptrend.
$Mkr #Mkr Breakout Has Confirmed 13% Profit So Far Expecting Continuation Towards 2000$ In Coming Days https://t.co/RFvY4b1FQ5 pic.twitter.com/pd6XLQROM0
— World Of Charts (@WorldOfCharts1) November 7, 2024
Following this breakout, MKR has already achieved a 13% gain, as highlighted in the tweet by World of Charts.
The upper boundary of the descending channel, around $1,350, now serves as a support level, helping to underpin the bullish movement. MKR faces resistance at $2,000—a psychological threshold and a previous area of price reaction.
Should it maintain its trajectory, MKR could reach a projected target above $2,400, aligning with a typical breakout move. The expert believes that the momentum gained from the channel breakout will be instrumental for MKR’s continued ascent.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading. Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. Copy trading: allows users to copy the trades of leading traders, for free. User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
The post Experts Forecast Further Price Rise for Varna Chain (VANRY) and Maker (MKR): Here’s the Outlook appeared first on CaptainAltcoin.