$MKR Breakdown or Breakout Brewing? Key Zone in Focus!
MKR is trading at $1,965, slightly down -1.32%, yet showing signs of stabilization after a sharp drop. The price is consolidating in a tight range, hinting at a potential breakout or further downside.
Key Levels to Watch
• Resistance Zones:
• $1,980 – Intraday resistance cap
• $2,000 – Strong breakout level
• $2,040 – Momentum confirmation zone
• Support Zones:
• $1,960 – Immediate floor
• $1,945 – Structural demand area
• $1,935 – Breakout invalidation level
Trade Setup
• Long Setup (Breakout Play):
• Entry: Above $1,980
• TP1: $2,000
• TP2: $2,020
• TP3: $2,040
• SL: Below $1,945
• Short Setup (Breakdown Play):
• Entry: Below $1,960
• TP1: $1,945
• TP2: $1,935
• TP3: $1,920
• SL: Above $1,980
MKR is coiling tightly between key zones. A decisive move above $1,980 could trigger a bullish rally, but if $1,960 breaks, more downside pressure is expected.
Let price lead the way – breakout confirmation or rejection will define the direction.