MKR Weekly AnalysisMaker (MKR) has been the top loser of the week, with a correction of 13.11%. In April, MKR, a popular Layer 2 solution for Ethereum, experienced a sharp decline from $4,083 to $2,356. However, MKR quickly recovered and is now in an accumulation phase.
Currently, MKR is forming a bullish pennant on the daily chart, indicating potential upward momentum if the price breaks above the pennant's upper trendline. The critical demand zone lies between $2,660 and $2,468, and if this zone holds, an uptrend is likely.
Moving averages on the daily time frame suggest a strong sell signal, indicating short-term bearish momentum, while on the weekly time frame, they suggest a strong buy signal, indicating potential long-term bullish momentum. Oscillators on the daily chart also support a strong sell signal, while on the weekly chart, they remain neutral, indicating no clear dominance of either bulls or bears.