<em><strong>The MKR price shows a successful retest of the $1040 breakout teasing a bull run above the 100-day SMA to reach the $1400 mark.</strong></em>
<h3>Key Technical Points:</h3>
<ul>
 	<li>The Maker (MKR) price action displays a bullish breakout of an ascending triangle pattern.</li>
 	<li>The bullish turnaround in the 50-day SMA displays an increase in underlying bullishness.</li>
 	<li>With a market cap of $1.049 billion, the intraday trading volume of Maker has increased by 21% to reach $235 million.</li>
</ul>
<h3>Past Performance of MKR</h3>
The MKR price action forms an ascending triangle pattern in the daily chart, with the $1040 horizontal level acting as the overhead resistance. The recent bull cycle from the supporting trendline results in the bullish breakout of the triangle pattern. Moreover, the breakout relay reaches the 100-day SMA before taking a turnaround to retest the bullish breakout.

<img src="https://s3.tradingview.com/snapshots/x/Xkoa9q0B.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/Xkoa9q0B/">Tradingview</a>
<h2>MKR Technical Analysis</h2>
The MKR price showcases a daily growth of 2.78%, reflecting a successful post-retest reversal. In addition, if the daily candle sustains above $1040, <a href="https://www.cryptoknowmics.com/news/why-is-it-important-for-traders-to-understand-crypto-reset-time/" target="_blank" rel="noopener">traders</a> can expect a bull run to the $1400 mark.

The bullish reversal after the successful retest teases a breakout of the 100-day SMA. Moreover, the bullish reversal in the 50-day SMA reflects an increase in the underlying bullishness.

Despite a recent correction, the daily-RSI slope holds above the neutral line indicating the market participants feel optimistic about the Maker (MKR) coin.

The MACD indicator prevents a bearish crossover amid the retracement phase, indicating the buyers hold a firm grip on the coin. Furthermore, the expected spread between these slopes will reflect growth in bullish momentum.

Hence the technical indicators maintain a negative point for the upcoming Maker price trend.

In a nutshell, the MKR technical analysis shows the technical indicators opposing the bullish view of the price action teasing a reversal from the opposing SMA.
<h2>Upcoming Trend</h2>
If the Maker prices sustain above the $1040 mark, the possibility of a bull run to $1400 increases after exceeding the 100-day SMA.

Conversely, a bearish reversal might retest the 50-day SMA, accounting for a 10% drop.

Resistance Levels: $1200 and $1400

Support Levels: $1000 and $950

MKR Technical Analysis: Will MKR Prices Reach The $1400 Mark?

The MKR technical analysis shows a successful retest of the $1040 breakout teasing a bull run above the 100-day SMA to reach the $1400 mark.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

MKR Technical Analysis: Will MKR Prices Reach The $1400 Mark?

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