Technical analysis by Sahrin about Symbol MKR: Sell recommendation (9/26/2024)

The price has consistently made lower highs and lower lows, indicating sustained bearish momentum.The bands are expanding, which indicates an increase in volatility.There seems to be a 20-period moving average (middle line of the Bollinger Bands), which the price recently crossed below. This signals bearish momentum.There are a few spikes in volume, particularly during the large price drops. This increase in volume during sell-offs suggests strong selling pressure.Support: The nearest support is around $1,431.81, which is the lowest price visible in the chart. If the price breaks below this level, it may head towards lower support zones.Bearish Bias: The price action, moving averages, and positioning near the lower Bollinger Band suggest a bearish trend.