Technical analysis by cryptodailyuk about Symbol MKR on 6/23/2025

🔷 1. Trend and market structure🔸 Upward channel:The price is moving in a wide, ascending channel (orange lines).The lower line of the channel was last tested on June 22, 2025, which ended with a dynamic upward bounce.The upper limit of the channel reaches around 2,450 USDT.🕸️ Market phase:In the short term, the market was in a downward correction phase within the uptrend.Currently, we see a strong rebound from support - a new uptrend is possible.🔷 2. Key horizontal levels (support/resistance)🟥 Support:1,637 USDT - local support (the lowest level of the red zone), almost tested at the bottom.1,717 USDT - very technical support, tested several times.1,800 USDT – psychological level and local consolidation.1,901 USDT – last support peak, currently broken upwards.🟩 Resistances:2,003 USDT – current price level, currently tested as new resistance.2,129 USDT – strong resistance from previous peaks.2,264 USDT – previous swing high.2,433 USDT – upper boundary of the channel and technical level from historical peaks.🔷 3. Price and candle behaviorStrong demand reaction at the lower boundary of the channel: long pin bar/bull's embrace at the lower boundary.The upward movement was dynamic and uniform, which indicates high buyer activity.If the price stays above 1,901 USDT – further increases are possible.🔷 4. Technical indicators🔁 Stochastic RSI (4H):Currently in the overbought zone, just below the level of 100 - a temporary correction or consolidation may occur.However, with a strong upward trend, Stoch RSI may "stick" to the upper band - it does not yet give a clear S/S signal.🔷 5. Technical scenarios🟢 Bullish scenario (continuation of growth):Condition: maintaining the level above 1,901 USDT.Targets:TP1: 2,129 USDTTP2: 2,264 USDTTP3: 2,433 USDT (upper limit of the channel)Stop-loss: below 1,800 USDT🔴 Bearish scenario (rejection of resistance):Condition: strong rejection of 2,003 USDT and return below 1,901Targets:TP1: 1,800 USDTTP2: 1,717 USDTTP3: 1,637 USDTSL: return above 2,003 USDT🔷 6. Final remarksThe current upward movement looks like a "V-shape reversal" reaction - a sharp turnaround with dynamic volume suggests strong buyer interest.The key will be the reaction to 2,003 USDT - a breakout and retest can give a very good long entry.Short positions are risky as long as the price is in the lower half of the ascending channel.