Here’s How ‘Real Rally’ Will Start for Maker (MKR) Price

Maker (MKR) Price Analysis

Crypto analyst AMCrypto has provided insights into Maker (MKR)'s potential price trajectory, highlighting a bullish recovery and a key level that could spark a "real rally."

Bullish Bounceback and Key Support

MKR has shown resilience at a well-established support level around $1,000, despite remaining within a broader downtrend. AMCrypto emphasizes the need for MKR to surpass $1,700 to confirm a shift to a bullish rally.

Historical Downtrend and Support Zone

MKR has faced two significant downtrends since early 2021. However, a solid support zone around $1,000 has consistently provided a base, preventing further declines. The recent bounceback aligns with this support area, indicating active buyer interest.

Resistance Levels and Breakout Point

The $1,700 level is identified as MKR's next substantial resistance, which could signify a shift in momentum. Surpassing this mark would invalidate the current downtrend and pave the way for a sustained rally.

Bullish Momentum and Trend Change

AMCrypto's analysis suggests that the bounce from the support zone indicates a potential change in trend. With buyers actively accumulating near this level, MKR could move towards the $1,700 mark if buyer interest persists.

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