Market Trends: Insights into Ethereum’s Recent Performance and Associated Token’s Forecast
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Maker: As MKR sees ‘Cup-and-Handle’, watch out for THESE resistance levels
The crypto space has been witnessing unprecedented growth, with Ethereum [ETH] soaring to new heights. This surge in price action has not only impacted ETH but also its associated token, Maker [MKR]. Analysts are now predicting a massive rally for MKR as the cup-and-handle pattern materializes.
For those unfamiliar with technical analysis, the cup-and-handle pattern indicates a potential upward breakout. In the case of MKR, this formation suggests that the asset could continue to climb higher in the medium term. The token’s price action has indeed been following an ascending channel since November 2024, reinforcing the notion that momentum may be on its side.
The key levels to keep an eye on are $2,200 and $3,800.
Source: ambcrypto.com
