- MKR breaks key horizontal support, signalling a 15% profit and a potential rise to $2100.
- Support zone at $1,600-$1,700 is critical for sustaining the bullish trend.
- Previous resistance at $2,623-$2,828 may pose a challenge for further gains.
Maker (MKR) Breakout Sparks Bullish Excitement
The cryptocurrency market is buzzing with excitement as Maker (MKR) showcases a promising breakout, currently trading at $1,980. According to a recent analysis by, MKR has broken through a critical horizontal support level, marking a 15% profit for investors. The chart, shared via Trading View, highlights a bullish pattern with a potential target of $2100, provided the price holds above the key support zone around $1,600-$1,700. This breakout follows a period of consolidation, with the token forming a strong base after a dip in August.
Resistance Levels to Watch at $2,623–$2,828
The analysis points to a significant resistance zone between $2,623 and $2,828, where the price previously faced selling pressure. However, the recent upward momentum suggests growing buyer confidence. The chart also indicates a descending trendline that MKR has decisively breached, reinforcing the bullish outlook. As long as the support holds, traders can expect continued upward movement, potentially testing higher resistance levels in the coming weeks.
Analyst Predictions Reinforce Positive Momentum
This development comes on the heels of earlier predictions from the same analyst, who has consistently forecasted MKR’s potential to rally. The token’s resilience, even amidst a volatile altcoin market, underscores its strong fundamentals and community support. Investors are advised to monitor the support level closely, as a drop below $1,600 could invalidate the bullish scenario. With MKR’s current trajectory, the crypto community is keenly watching whether it can sustain this momentum and achieve the projected $2100 target.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
