Maker (MKR), one of the largest DeFi protocols, took its place among the highest rising altcoins on July 21, 2023. The popular altcoin, which has increased by about 11% in the last 24 hours, attracted attention with bullish candles throughout the day. Valdrin Tahiri, one of the BeInCrypto analysts, pointed out that the rise is outweighed in his analysis of the possible movement of the price.
Maker (MKR), the largest Web3 project in the Real World Assets (RWA) category, has achieved a significant breakthrough in recent weeks, with the impact of the interest shown in the field. As of the writing of the article, $1,180 may be the critical level for MKR, which is at $1,161 level, to start the uptrend.
Valdrin thinks that bullish signs are stronger in MKR price as it exits the horizontal resistance area. This bullish momentum could accelerate if the $1,150 resistance level is broken. In his long-term analysis, Tahiri states that a peak can be seen soon, and that after the first target is $ 1,400, it may continue to rise up to $ 1,600. In a possible bearish scenario, the strong support level is located around $840.