Technical analysis by Sahrin about Symbol MKR: Sell recommendation (3/7/2025)

The price recently had a strong rally but is now in a short-term downtrend after failing to sustain highs near $1,900.The price is currently below the middle Bollinger Band (moving average), signaling bearish momentum.A potential support zone is around $1,200, near the lower Bollinger Band.Widening Bollinger Bands indicate increased volatility.The price is approaching the lower Bollinger Band, which could act as a support level.Support: $1,200 (Lower Bollinger Band), $1,000 (Psychological Support)Resistance: $1,400 (Middle Bollinger Band), $1,500 (Recent high before drop)Bearish Continuation: If selling pressure increases and price breaks below $1,200, it may decline further to $1,000.