"MKR at Crossroads: $1,750 Resistance Looms as Bearish Trends Emerge"

Maker (MKR) faces a critical juncture as its price approaches the key resistance zone of $1,750, signaling potential bearish trends for traders. Despite a recent surge in MKR's price and network activity, underlying market structures suggest caution among investors.

Over $156 million worth of MKR tokens were burned recently, but the expected positive momentum was not realized. The current resistance at $1,750 presents a significant challenge for Maker's price recovery efforts, despite witnessing a 60% increase since mid-February. Evidence of a bearish swing structure on the weekly chart suggests that traders should remain cautious, especially as market dynamics shift.

While there has been an uptick in daily active addresses and overall network growth, this spike may not be sufficient to propel MKR through its resistance barriers. Data from Santiment underscores these trends, indicating that the influx of new users did not correlate with strong price momentum. This discrepancy highlights the fragile nature of MKR's current upswing.

The technical indicators paint a mixed picture for Maker's future trajectory. A look at the weekly chart indicates a bearish bias, especially following a sell-off that drove MKR below key thresholds established in October 2024. The recent rebound to the $1,600 area, while encouraging, still encounters formidable resistance, making $1,750 a crucial pivot point.

Investors should be wary of bearish divergence evident in various technical indicators. The Chaikin Money Flow (CMF) stands at -0.04, indicative of sustained sell pressure. Furthermore, although the MACD hints at an approaching bullish crossover, it remains below the zero line, indicating that bullish momentum is still uncertain.

The recent token burn event, where $156.77 million of MKR was removed from circulation, was anticipated to create upward price momentum. However, contrary to trader expectations, this burn did not trigger significant buying interest. This muted response suggests that market participants may be prioritizing profit-taking over speculation at this pivotal juncture.

Given the overlapping resistance levels and bearish signals on technical indicators, traders may want to contemplate profit-taking as MKR approaches these critical zones. Monitoring lower timeframes for bullish weakness could provide insights for potential re-entries or exit strategies, rather than diving into short positions prematurely. Such a measured