Maker (MKR) Faces Heavy Resistance in ‘Make or Break’ Scenario

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In Brief
  • -MKR is following a long-term descending resistance line.

  • -The price is facing resistance from the 50 and 200-day MAs.

  • -MKR looks to be nearing the end of its correction.

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The Maker (MKR) price has been decreasing since it reached a local high on June 11. It seems that the correction is not yet finished, and another drop will transpire before MKR resumes its upward movement. The MKR price has been following a descending resistance line that began on April 29, when the price was rejected at ₿0.105. Up to this point, the price has made three unsuccessful

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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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