Next Move Analysis for $MKR /USDT
1. Current Price: $1,798
2. Market Trend: Downtrend (-6.74%) in the last 24 hours.
3. Support Level: The recent low is $1,789. If price breaks below this level, expect further downside.
4. Resistance Level: $1,816 (middle Bollinger Band) and $1,847 (upper Bollinger Band). A recovery above these could trigger a reversal.
5. Momentum:
Bollinger Bands show high volatility; price is near the lower band, suggesting potential for a short-term bounce.
Volume: Increasing, indicating strong selling pressure.
Wm %R (-81): This is oversold territory, meaning a temporary rebound is possible.
Simple Move Outlook:
Bearish Scenario: If price falls below $1,789, the next target is around $1,770.
Bullish Bounce: If buyers push price above $1,816, we could see a move back toward $1,847.
Short-Term Move: Watch $1,789 for a break or bounce.
