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MAKER PRICE ANALYSIS & PREDICTION (April 10) – MKR Turns Weak After Rejecting $1.8k, Can it Regain Momentum?
By Will Izuchukwu on April 10, 2025
MKR has taken a sharp turn for the worse after a sudden surge to a key resistance yesterday was rejected. The price is now showing signs of weakness, with selling resuming and causing significant losses in the last few hours.
Last month, MKR had witnessed a minor setback after initially flashing bullish signals. However, the $1k level held strong, allowing the bulls to recover and re-enter the market. This led to a significant surge yesterday, as MKR exploded to $1.8k, following Bitcoin’s retake of a key level.
However, this momentum was short-lived, and the crypto eventually lost steam and dropped down to around $1.4k. The massive long-candle wick indicates a strong rejection by bears, and it seems they are currently in control on the hourly chart.
MKR has posted a loss of roughly 6% today, making it look weak overall. If the bulls can hold onto the monthly low, there may still be hope for them to regain momentum. On the other hand, if this weakness persists, the price could embark on another fresh leg down. The February low serves as a crucial barrier for bears; should they fail to break through it, MKR might re-enter consolidation before attempting another surge.
For now, the long-term outlook remains bearish for MKR.
Source: https://nulltx.com/maker-price-analysis-prediction-april-10-mkr-turns-weak-after-rejecting-1-8k-can-it-regain-momentum/
