The post Will MKR Cross Prompt Barrier of $1400? appeared on BitcoinEthereumNews.com.

MKR price flipped from the immediate support mark of $1250 and is gaining momentum. Moreover, the price action witnessed the buyers’ accumulation, and bulls are trying to escape the primary hurdle of $1400 to meet the swing burden of $1600. However, the trend is neutral, and the technicals did not favor a rally per the lower momentum in the last sessions. Amid the crypto market pump, MKR price barely surged over 20% and is stuck in a narrow range, showcasing neutrality on the chart. MKR price is trying to escape the 50-day EMA hurdle to initiate a bounce ahead of the $1400 mark, while the sellers are tightening their grip and persisting in forcing the bulls backward. Moreover, the price action suggests that buyers must surpass the $1500 barrier to gain buying momentum and will shift toward $1500. Conversely, if rejected from the 50-day EMA mark, the MKR price will retest the bottom mark of $1200 again. The live price of MKR crypto is $1353, with an intraday gain of 2.20%, showing neutrality on the chart. Moreover, the trading volume increased by 5.54% to $77.02 Million. However, the pair of MKR/BTC is at 0.0310 BTC, and the market cap is $1.32 Billion. Analysts have maintained a neutral rating, suggesting the volatility will continue in the following sessions. MKR on Daily Chart Showcasing Neutrality  Source: MKR/USD Chart by TradingView On the daily chart, MKR price showcases neutrality and stated a lower low formation for the past sessions. Moreover, the price action shows lower investor interest and meets a resistance barrier of $1400. Additionally, a bearish harami candlestick was also noted, which indicates that sellers succeeded in breaking the buyers’ momentum, and MKR price will retest the demand zone of $1200 and $1000 in the following sessions. The relative strength index (RSI)…

---

Filed under: News - @ December 23, 2023 7:26 pm