Maker (MKR) and SEI have made notable upward movements, placing them among the top 10 gainers in the market today. MKR price leads the surge with a 7.02% rise over the past day, while SEI price follows closely, climbing 3.82%. Recent analyses from crypto experts underscore potential breakouts for both tokens, highlighting momentum shifts that may appeal to traders and investors alike.
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Maker (MKR) Price Shows Strength with Falling Wedge Breakout
World of Charts on X (formerly Twitter) shared that Maker (MKR) has exhibited a breakout from a major falling wedge pattern, a typically bullish indicator. This technical pattern, formed by two downward-sloping trendlines, suggests a reversal as Maker’s price moves past initial resistance levels. The tweet indicates that MKR is now approaching the top of the wedge, a point that could serve as a key resistance level.
The analysis reveals that MKR’s price has gained upward momentum since breaking the upper trendline resistance, hinting at growing buying interest. If this momentum sustains, the next resistance zone lies further up at the top trendline of the wedge.
A successful move beyond this point could fuel a stronger rally. Currently, the chart places initial support near the breakout area, roughly in the $1,300 to $1,400 range, providing a fallback level should the price experience a pullback.
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SEI’s price breakout has also sparked interest, with prominent analyst Estimyth confirming that the token recently moved past a long-standing downtrend line.
This breakout, supported by a rise in trading volume, signals a potential shift in trend for SEI. Volume spikes during breakouts often indicate increased buying activity, validating the move’s strength.
Estimyth shared excitement over SEI’s “beautiful confirmation” of the breakout, expressing optimism by purchasing additional tokens. The chart illustrates that SEI’s price has turned previous resistance from the downtrend line into a support zone, potentially serving as a stable foundation for further gains.
Furthermore, the MACD indicator, which shows green histogram bars, aligns with this bullish sentiment, reinforcing the potential for continued upward movement.
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Resistance and Support Levels Indicate Next Steps for MKR and SEI
For MKR, the focus shifts to its next resistance level at the top of the wedge pattern. If MKR’s price breaks above this level, it could open the path to additional gains. Conversely, the support near the breakout area may provide stability if the price faces a minor retracement.
SEI, meanwhile, has formed a new support base along the previously breached downtrend line. This line now serves as a safety net, providing support for future price action. Should SEI maintain its momentum, previous highs may act as subsequent resistance levels, signaling potential selling points for traders.
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