Maker [MKR] hit a key resistance level- Will shorting yield profit?

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion MKR reclaimed November’s pre-FTX level. The coin saw short-term sell pressure, which could undermine the uptrend momentum. Maker’s [MKR] rally could slow down as it faces key obstacles on its upward trajectory. The token […]

MKR consolidated within the $682 – $795 throughout February. However, it started March on a high note after inflicting a bullish breakout. It hit the $900 zone, reclaiming its pre-FTX levels and offering over 10% gains.

A correction could see MKR settle at $884, $836, or the channel’s upper boundary of $795. These levels could offer shorting opportunities if the correction is confirmed. Short-sellers should only make moves if MKR fails to close above $915.

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