Dacity Coin
NEAR Protocol
Quantus
Bitcoin
Celestia
Pearl
Pudgy Penguins
- The price of MKR is trading near $1270 with a 22% increase in the 24-hour trading volume.
- The MKR price is up by 22% within the last 7 days.
Maker price prediction indicates that investors are buoyant regarding the MKR token. The price is moving on an uptrend on the daily chart. The MKR price recently made a breakout through the crucial EMA levels – giving an extremely bullish move of 75% and after taking the price surged up by 95% in accordance with the given prediction.
In the recent analysis, near 21 July the price made a bullish candle with a 13% long wick. The unnaturally long wick indicated rapid selling activity according to which it was estimated that Maker price may see a correction with a surge in selling pressure.
Following the prediction Maker price took a 15% correction almost immediately though it was also stated that over the long term, the price may see a further increase in its value.
The present value of Near (NEAR) is $1.39 (press time). It has a market capitalization of around $1.31 Billion, which surged over the past few weeks.
Maker Price Prediction: Technical Analysis on Daily Chart
The prediction stands true, After seeing the slight correction MKR token is moving on a bull trend on the one-day chart. On the weekly timeframe Maker price broke above its last barrier the 200 EMA. Volume is relatively up which suggests that the MKR token is being traded actively among buyers and sellers.
The oscillators have been moving in the oversold levels for the past few months on the daily and weekly timeframe. According to the weekly timeframe, the price might see a slight increase in its value. Candlesticks suggest that buyers still hold rains in the market and bears will have to make substantial efforts in order to grab purchase in the trend.
The relative strength index (RSI) line has approached the greed zone. The current RSI value of the MKR token is 73.77 points. The RSI line is presently taking support from the 14 SMA levels at around 69.57 points.
The stochastic RSI line is moving near the overbought line where the reversal from the demand zone is almost always immediate, the Stochastic RSI can move in the overbought level for months. The present value of the stochastic RSI is 86.69 points, it is presently in the supply zone.
Conclusion
According to the analysis, the MKR token is consolidating in the supply zone on a day chart. If the bears take control of the price action, Maker Crypto may see a 13% correction. The opinions of investors concerning the overall market could turn bearish which can affect the value of Maker.
Technical Levels
Support -$1100
Resistance – $1500
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
