Date: Thu, February 20, 2025 | 04:08 PM GMT
The cryptocurrency market is showing signs of recovery this week, with major altcoins rebounding after weeks of correction. Among them, Maker (MKR) and Arweave (AR) have gained significant attention due to their strong price action. Both tokens are up by over 6% and 9% today, attempting to recover from a 60-day correction that followed their impressive November rallies, showing strong weekly performance.
Both MKR and AR have tested key support levels and successfully bounced, suggesting a potential trend reversal if bullish momentum continues. Let’s analyze their price charts and see what’s next for these altcoins.
Maker (MKR)
MKR’s weekly chart shows a year-long falling wedge pattern. The most recent decline began on December 2, after MKR was rejected at $2,424 from the wedge’s upper resistance. This led to a correction, with prices falling to the support trendline at $789.
Currently, MKR has held this support and bounced back to $1,256, showing signs of strong buying pressure. The MACD is beginning to curve upward, suggesting early signs of recovery.
If MKR continues its upward momentum, it could attempt a recovery toward the upper wedge resistance at around $1,600 and the 200-day SMA in the near future. A confirmed breakout from this pattern would signal a shift in trend towards a bullish structure.
Arweave (AR)
Similarly, AR’s weekly chart shows a year-long falling wedge pattern. The most recent downward move began on December 2, when AR was rejected at $29 from the wedge’s upper resistance, sending its price downward to test the support trendline at $8.54.
Currently, AR has managed to hold this support and bounced back to $10.05, indicating increasing buying pressure. The MACD is showing early signs of a potential bullish crossover, hinting at a possible reversal.
If AR maintains its momentum, it could attempt a recovery toward the upper resistance of the wedge at $16.71 and the 100-day Simple Moving Average (SMA) in the near term. A successful breakout from this wedge could shift the trend to a bullish outlook.
Could This Lead to Breakouts Ahead?
Both MKR and AR are showing early signs of a bullish reversal, but their breakout will depend on broader market conditions. If Ethereum (ETH) continues its recovery and Bitcoin dominance declines further, it could provide more momentum for altcoins.
For now, traders should closely monitor key resistance levels and trading volume for confirmation before expecting a full-fledged recovery. A successful breakout from these wedge patterns could set the stage for strong gains in the coming weeks.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
The opinions and market insights shared on CoinsProbe represent the views of individual authors based on prevailing market conditions at the time of publication. Cryptocurrency investments carry significant risk and volatility. Readers are encouraged to conduct their own research and seek professional financial advice before making investment decisions. CoinsProbe and its contributors do not accept responsibility for financial losses or decisions made based on published content.
CoinsProbe may publish sponsored articles, affiliate links, or promotional collaborations. All sponsored material is clearly labeled to maintain transparency with our audience. Our editorial decisions remain fully independent, and advertising partnerships do not influence reviews, rankings, or published opinions.
Since 2023, CoinsProbe has delivered reliable insights on cryptocurrency, blockchain, and digital assets. Our content is created by experienced researchers and analysts who follow strict editorial standards focused on accuracy, transparency, and credibility. Every article is carefully reviewed and verified using trusted sources and current market data. We provide unbiased analysis and timely updates covering everything from emerging crypto projects to major industry developments.
