Institutional Demand Dey Support MKR & SNX for Key Support Levels
Maker (MKR) drop 21.8% for one month and 16.4% for one week but e still up 12.3% for six months. Maker dey trade between $1,721 and $2,315, with support for $1,465 and resistance at $2,654. Indicators show say RSI dey 33.9 and momentum no good, e mean say e oversold. Traders fit enter long positions near $1,465 support, while short trades good near $2,654.
Synthetix (SNX) drop 13.8% for past month and 32.1% for six months. Synthetix dey between $0.49 to $0.73. Key resistance level na $0.87 and $1.11, with support for $0.40 and $0.16. RSI dey 49.6, with small bearish moving average. Buyers fit target bounce from $0.40, but if e break down, e fit mean further fall go $0.16.
Both Maker and Synthetix don hold strong support, e show say institutions get strong interest. This resilience fit bring potential upside, e dey give traders clear entry and exit levels even when market uncertain.
Bullish
How Maker and Synthetix dey strong for key technical level usually mean say big players dey gather. For history, strong institutional buy for important support don always come before steady uptrends, like when Ethereum bounce from key floors for mid-2023 after similar support hold. Current oversold condition for MKR (RSI around 33.9) plus neutral to small bearish signs for SNX near multi-month lows dey show say short-term selling pressure fit don finish. Institutional demand dey steady price and dey attract momentum traders wey dey find early entry, fit carry short-term rally. For long term, strong defense of support levels with institutional backing fit set higher lows, make foundation for new uptrends. Even though risk controls still need if breakdown happen, data dey point to bullish scenario as institutional interest and technical support dey prepare ground for upward momentum.