Bitcoin and other crypto tokens posted better-than-modest gains on Friday after the US Fed chair’s commentary last evening, which pushed the treasury yields higher. However, The state of New York has filed a lawsuit against Digital Currency Group, and its subsidiary Genesis Global Capital along iwht crypto exchange Gemini alleging fraud to the tune of more than $1 billion.
Maker (MKR)is currently facing difficulty in breathing its resistance levels.MKR is witnessing mixed price action, after recording short-term losses earlier this month. The asset, trading at $1,420,is holding steady in a horizontal channel and is expected to continue in the near term.
Image: Chart-Make
It is facing immediate resistance at $1,490 and if the price successfully surpasses this level, it could potentially lead to the next resistance at $1,585. Its50-day moving average is currently at $1,315 and MKR is holding well above this level. The asset has shown marginal signs of recovery in the last couple of days, with its RSI slope showing signs of recovery indicating an uptick in buying pressure.
Major Levels:
Support: $1,335, $1,265
Resistance: $1,490, $1,585
(Views and recommendations given in this section are the analysts’ own and do not represent those of Business Today. Please consult your financial adviser before taking any position in the asset/s mentioned.)