Altcoin MKR aims for a 35% increase as data shows optimism

Altcoin MKR (Maker) is gaining significant attention as it is predicted to rise by up to 35%, reaching a level of 3,200 USD, if it surpasses the important resistance level at 2,230 USD. Currently, MKR is trading around 2,220 USD, with a 24% increase over the past 24 hours. This indicates strong interest from both retail and institutional investors, reflected in a significant 180% increase in trading volume as well as a 37% increase in Open Interest (OI) in a short period. MKR's strength is also shown through the Long/Short ratio currently at 1.08, indicating that the majority of traders are optimistic about price increases.

However, it is important to note that the RSI (Relative Strength Index) of MKR is in the overbought region, which may lead to a potential correction in the short term. If selling pressure appears before MKR surpasses the aforementioned resistance level, the price could revert to lower levels, even as low as 0.93 USD. Therefore, investors should be cautious and monitor the situation, as the current price increase still depends on momentum and market sentiment in the coming days.