MKR and PYTH are showing strong bullish trends, with both tokens breaking through key resistance levels. MKR’s price has gained momentum following an 8% increase, while PYTH has recorded a surge of 15.25%. Market sentiment is shifting as both assets exhibit breakout patterns, suggesting a potential continuation of upward movement.
Maker (MKR) has demonstrated strong upward momentum, climbing 8% today. The price is advancing toward key resistance levels, as indicated by an analysis of multiple timeframes. The 4H chart confirms an ongoing 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. The price is targeting the $1,350 resistance zone after previously testing the $1,150 support level. The current price action aligns with this outlook, with MKR’s price holding above $1,175, a previous resistance zone that has now turned into support.
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PYTH Shows Strong Momentum Following a Confirmed Breakout
PYTH’s price has gained 15.25% today, accompanied by a trading volume surge of 31.90%. This movement follows a breakout above a descending trendline, signaling a reversal from its prolonged downtrend. The breakout is further supported by an increase in volume, suggesting continued market participation.
Prominent analyst World Of Charts confirmed the breakout on X and outlined potential targets. The 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.
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Market Outlook and Key Levels to Watch
MKR and PYTH are positioned for potential further gains if key resistance levels are broken. The price of MKR 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.
Furthermore, PYTH’s price 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. Still, the recent breakout pattern looks good, and market sentiment points to more upside.
Both tokens show promising technical patterns. Traders are watching to see if these bullish moves can keep going.
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