Maker (MKR) Price Surges 7% to Hit $766.92 Amid Bullish Momentum

Maker (MKR) Price Surges 7% to Hit $766.92 Amid Bullish Momentum

Maker (MKR) has shown a strong bullish trend, with its price surging by over 7% in the last 24 hours. The cryptocurrency reached a new monthly high of $766.92, extending its weekly gains to 17.81%. MKR is currently trading at $769.51, with a 24-hour trading volume of $39,054,871.95 and a market capitalization of $748,391,606.03.

Technical Indicators Signal Continued Bullish Momentum

The technical indicators on the hourly, daily, and 4-hour charts suggest that the bulls are in control. The RSI line is above the 50 level, nearing overbought territory, while the MACD line remains above the signal line, indicating a bullish trend. The parabolic SAR dots are positioned above the candlesticks, further reinforcing the bullish outlook.

MKR Price Movement and Volatility

MKR's price movement over the last week has been consistently upward, rising from $712.05 to its current level. The cryptocurrency breached the $750 resistance level and is now targeting the $775 mark. The Bollinger bands are wide, indicating high market volatility, with the upper band touching the $778 resistance level.

Short-Term Outlook and Support Levels

In the short term, MKR is expected to remain bullish, with the potential to move toward the $776 level. However, the cryptocurrency is facing strong resistance at $775 and may need to consolidate before breaking higher. The immediate support levels are $770 and $768, which, if broken, could lead to a pullback to $765.

Disclaimer

The views and opinions expressed in this price analysis are based on market data and technical indicators. Readers should conduct their own research and due diligence before making any investment decisions. Any actions taken based on this information are at the reader's own risk.

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