MKR/USDT Facing a key resistance zone, Could Break or rejected?
💎 MKR has recently witnessed significant developments in the market. It is currently facing a key resistance zone, and historical data indicates the strength of this area.
💎 To continue its upward trajectory, MKR would need to break out of this zone successfully, which could potentially lead to a significant upward movement, probability aiming to reach our target strong resistance area.
💎 However, if MKR fails to break through this key resistance zone once again, there is a possibility that the price could retreat to the support area around 1616 to establish new momentum. In a more bearish scenario, MKR could even drop down to the demand area near 1300.
💎 The demand area is crucial as it represents the last support for a bullish movement. Bouncing from this area and reclaiming the price above the support zone is essential for the potential continuation of MKR's upward movement. However, if MKR fails to do so, the price could continue its downward path, returning to the accumulation zone, and potentially hitting the bottom support of that zone.
💎 To continue its upward trajectory, MKR would need to break out of this zone successfully, which could potentially lead to a significant upward movement, probability aiming to reach our target strong resistance area.
💎 However, if MKR fails to break through this key resistance zone once again, there is a possibility that the price could retreat to the support area around 1616 to establish new momentum. In a more bearish scenario, MKR could even drop down to the demand area near 1300.
💎 The demand area is crucial as it represents the last support for a bullish movement. Bouncing from this area and reclaiming the price above the support zone is essential for the potential continuation of MKR's upward movement. However, if MKR fails to do so, the price could continue its downward path, returning to the accumulation zone, and potentially hitting the bottom support of that zone.
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