Maker (MKR) Price Surges Past Key Resistance as PYTH Price Prepares for a Major Upswing

MKR and PYTH are showing strong bullish trends, with both tokens breaking through key resistance levels.

Surging past a key resistance level, the price of Maker (MKR) has witnessed a notable gain of 8% today. Meanwhile, PYTH price is gearing up for a major upswing with a 15.25% surge. Both tokens are displaying strong bullish trends.

After testing the $1,150 support level, MKR price is aiming for the $1,350 resistance zone. This surge follows a period of consolidation, as observed in an analysis of multiple timeframes.

Chart: TradingView

Multiple timeframes analysis reveals Maker (MKR) price surging past a crucial resistance level.

The 4H chart confirms an uptrend, with MKR forming higher lows and trading above the Ichimoku Cloud. This indicator suggests continued bullish momentum. Top analyst Crypto_Jobs shared on X that a buy signal has been confirmed on the 1H timeframe.

The tweet mentions an “ascending accumulation” pattern, signaling steady demand before a breakout. Prices are targeting the $1,350 resistance after testing the $1,150 support level.

With this price action, MKR price is holding above $1,175, a previous resistance zone that has now turned into support.

PYTH price surges after clearing a descending trendline resistance

(Chart: TradingView

Surging past a descending trendline resistance, PYTH price has witnessed a gain of 15.25% today. This breakout is accompanied by a trading volume surge of 31.90%.

From its prolonged downtrend, PYTH price seems to be reversing. This breakout is significant and might lead to further gains. Prominent analyst World Of Charts confirmed the breakout on X and outlined potential targets.

Price needs to clear $0.27-$0.28 first, then $0.29-$0.30 before it can make its way up to $0.34-$0.35. For this upward move to continue, prices can’t drop below $0.22-$0.23.

Both tokens are positioned for potential further gains if key resistance levels are broken. MKR price needs to stay above $1,290-$1,300 to have a shot at reaching $1,350.

If sellers step in, we could see prices fall back to $1,175-$1,200 before another attempt up. PYTH price, on the other hand, has to hold steady above $0.22 if it wants to challenge the $0.27-$0.30 resistance.

If it falls through that level, we might see it test $0.20 again. But the recent breakout pattern looks good, and market sentiment points to more upside.

Both tokens are showing promising technical patterns. Traders are watching to see if these bullish moves can keep going.

Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.

Get all our future calls by joining our FREE Telegram group.

We recommend eToro