MKR at a Crossroads! đšđ
The MKR chart is currently navigating some turbulent waters! đ After a dramatic drop from the $2,200 level in early August to the $1,600 zone, weâve seen some consolidation but no major recovery yet. The price seems to be stuck, hovering around $1,614, unable to push beyond the 7-day moving average.
The 25-day and 99-day moving averages are still trending down, which doesnât give us much confidence in a breakout. đ
Itâs clear that the overall trend is bearish, and without a significant volume surge, any potential upward movement could be short-lived. If MKR canât break above the $1,800 resistance, weâre likely to see it retest lower levels around $1,400. đ
The indicators are flashing caution, but we could be in for some interesting action if market sentiment shifts. If youâre holding MKR, keep a close eye on those resistance levels!
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#MKR #CryptoTrading #BearishTrends #AltcoinAlert #MarketAnalysis
