Maker

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<ul class="news-points"> 
 <li>MKR saw its price drop 7.45% over the past 24 hours according to data from CoinMarketCap.</li> 
 <li>The latest drop in price comes after MKR was rejected by the $1,605 resistance level.</li> 
 <li>Technical indicators on MKR’s daily chart were also flagging bearish at press time.</li> 
</ul> 
The price of <a href="https://coinedition.com/tag/maker-mkr/">Maker (MKR)</a> underwent a strong correction over the past 24 hours according to data from the cryptocurrency market tracking website CoinMarketCap. At press time, the altcoin was down 7.45% and was changing hands at $1,448.66 as a result. 
<div class="wp-block-image"> 
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 <img decoding="async" src="https://www.tradingview.com/x/oETCpTje/" alt="" style="aspect-ratio:2.0548712206047033;width: 100%;height:auto">
 <figcaption class="wp-element-caption">
 Daily chart for MKR/USDT (Source: <a href="https://www.tradingview.com/x/oETCpTje/" target="_blank" rel="nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div> 
MKR’s price had been in a consolidation phase between $1,385 and $1,488 over the past 2 weeks. During this period, the altcoin’s price had briefly broken out of the sideways channel more than once. The first breakout was recorded on 27 September 2023, when a 5+% move propelled the cryptocurrency’s price to above the $1,488 mark. 
It then continued to rise in the following 24 hours and attempted to flip the resistance level at $1,605 into support. However, it was rejected by this barrier – causing it to correct back within the current sideways channel. 
This prompted sellers to continue to exert thei…
The post <a rel="nofollow" href="https://coinedition.com/maker-mkr-loses-key-support-after-its-steep-correction/">Maker (MKR) Loses Key Support After Its Steep Correction</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

Maker (MKR) Loses Key Support After Its Steep Correction

Coin Edition

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