#MKR/USDT Outlook: Key Levels to Watch
The MKR/USDT pair is currently trading at 2128, showing a moderate gain after testing the 200-period Simple Moving Average (SMA) at 2202. The price remains above the Volume-Weighted Average Price (VWAP) of 2099, indicating a slight bullish sentiment in the market. The Relative Strength Index (RSI) is at 55.39, positioning itself in the neutral zone, suggesting balanced market conditions with a slight bullish inclination. Additionally, the Moving Average Convergence Divergence (MACD) shows a bullish crossover with a positive histogram, indicating building bullish momentum.
If the MKR/USDT pair can maintain its position above the 2099 VWAP and break through the 2202 SMA, it may target higher resistance levels around 2400 and potentially 2600, signaling a stronger bullish trend. Conversely, if the price falls below the 2099 VWAP, it could revisit lower support levels at 2058 or even 1946, confirming a possible bearish continuation. Overall, while the MKR/USDT shows cautious bullish signs above these key levels, traders should stay vigilant for potential reversals if the price drops below the VWAP and SMA.
Disclaimer: This analysis is for informational purposes and does not constitute financial advice. Cryptocurrency trading involves high risk. Please do your own research
#6thTrade #BecomeCreator #MarketSentimentToday #Marketupdate
