<strong><em>MKR price action shows a bullish reversal challenging the sellers at $1000 and the 20-day EMA after the consolidation at $700.</em></strong>
<h3><strong>Key technical points:</strong></h3>
<ul>
 	<li>The MKR market price has increased 25% over the past 24 hours.</li>
 	<li>The uptrend challenges the 50-day EMA.</li>
 	<li>The 24-hour trading volume of Maker is $111 Million, indicating a hike of 68%.</li>
</ul>
<h2>Past Performance of MKR</h2>
The MKR price action shows a bullish reversal from the support level at $700 after a short consolidation range resulting in a 30% jump to reach the 20-day EMA. The double bottom formation and the lower price rejection candles were evident in the growing bullish influence over the consolidation.

<img src="https://s3.tradingview.com/snapshots/t/tAr96v6T.png" alt="TradingView Chart" />

<strong>Source- </strong><a href="https://www.tradingview.com/x/tAr96v6T/" target="_blank" rel="noopener">Tradingview</a>
<h2><span style="font-weight: normal">MKR Technical Analysis </span></h2>
The <a href="https://www.cryptoknowmics.com/news/mkr-technical-analysis-50-surge-passes-1750-mark/">MKR</a> prices surpass the $900 mark and attempt to surpass the 20-day EMA(blue) to continue the uptrend to $1000. Moreover, the increase in trading volume supports the possibility of an uptrend continuation. The MACD indicator shows a reversal in the fast and slow lines that may shortly lead to a bullish crossover, a buying signal for short-term traders. Moreover, the fall in negative histograms teases a potential resurgence of a bullish trend.

The RSI slope gradually rises higher to surpass the 14-day SMA but takes a lateral shift before reaching the halfway line. Hence, the indicator reflects a resting phase due to the higher price rejection. The spike in Maker’s market value challenges the 20-day EMA that has provided resistance to multiple bullish reversal attempts. Hence, the breakout of the EMA will signal a breakout entry opportunity. In a nutshell, the MKR technical analysis forecasts the 20-day EMA breakout will fuel the uptrend to surpass the $1000 mark.
<h2><span style="font-weight: normal">Upcoming Trend</span></h2>
Traders hoping for a bullish recovery in the Maker market value must wait for the EMA breakout. Then, investors can expect the prices to surpass the $1000 mark to reach the $1200 mark.

<strong>Resistance Levels:</strong> $1000 and $1200

<strong>Support Levels:</strong> $950 and $900

MKR Technical Analysis: Buyers Ready To Reclaim The $1000 Mark

MKR Technical Analysis shows a bullish reversal challenging the sellers at $1000 and the 20-day EMA after the consolidation at $700.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

MKR Technical Analysis: Buyers Ready To Reclaim The $1000 Mark

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