MKR and AR bounce from critical support – Could a breakout be coming?
The cryptocurrency market has been hot this week, with several altcoins trying to recover from recent corrections. Among them, Maker (MKR) and Arweave (AR) are attracting attention with impressive jumps of 26% and 12% in the last 24 hours. What could this mean for the coming days? Read on to find out!
Maker (MKR): Is a recovery underway?
MKR has been trading within a falling wedge pattern for over a year. The token recently faced a correction after being rejected at the $2,424 region, falling to a critical support at $789.
Now, with buying pressure increasing, $MKR has already recovered to $1,450. Furthermore, the MACD is showing signs of reversal, suggesting that a stronger move could be on the horizon. If this trend continues, the next target could be the wedge resistance at $1,600 and the 200-day SMA just above it
