MKR Price Analysis

• At press time, MKR was testing support at $1,279 as cost basis clusters hinted at heavy investor positioning between $1,300 and $1,500.
• MFI at 29.04 hinted at oversold conditions and by extension, a potential bounce on the charts.

Maker’s (MKR) price action has been volatile recently, recording a reversal after a mid-February low, rallying to $1,700 before retracing to $1,350, indicating strong investor engagement.

Cost Basis Distribution – Investor Positioning

The Cost Basis Distribution chart outlines how MKR investors have reacted to price changes and where notable buying and distribution events occurred. A significant number of investors accumulated MKR between $1,300 and $1,500, forming a critical accumulation zone. Investor behavior in this price range will determine market support or potential downside.

Above $1,500, the clusters thin out, suggesting resistance could form.

Altcoin Support and Resistance Levels

Currently, MKR trades at $1,279, reflecting a 1.31% decline in the last 12 hours. The 50-day moving average (MA) is at $1,331, serving as a resistance level. A breakout could favor bulls, while the 200-day MA at $1,471 marks a significant resistance zone for profit-taking.

The Money Flow Index (MFI) at 29.04 indicates that MKR may be nearing oversold territory. An increase in buying pressure could push prices towards $1,350–$1,400, where another major supply cluster exists. Conversely, continued selling pressure may test $1,200, historically a strong support area.

Investor Engagement and Market Sentiment

Analysis of investor behavior shows a mix of long-term holders absorbing supply while short-term traders exit at resistance levels. MKR’s price trend will depend on the strength of accumulation in the $1,300–$1,500 range. Holding this zone with increased buying pressure may enable a breakout towards $1,600–$1,700. Failure to maintain current support could result in a deeper correction below $1,200, forming a future demand zone.

What’s Next for MKR?

MKR is at a pivotal moment, indicating crucial accumulation and distribution zones. The next movement will depend on buyer demand in the $1,300–$1,500 range or a potential required downside to create a new demand zone. Traders should watch the MFI, moving averages, and cost basis clusters for trend shifts. A bullish momentum return could push prices above $1,400–$1,500 for a retest of $1,700. However, sustained weakness might lead to a correction nearer to $1,200 or lower, making investor reaction at key levels critical for determining MKR’s next significant move.