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- MKR performed positive on Feb 3, 2021 trading session while making a 52 week high on Feb 20,2021
- Maker price is $2193.14, which is up by 2.08% in the last 24-hour time-frame and 8.65% up from the previous week
- MKR/BTC pair is performing negative with a loss of 2.40% in Tuesday’s trading session (0.04495 BTC)
Maker had positive momentum on the weekly chart, and it went up to $3041.57 on February 20, 2021, while breaking above the resistance zones created in the past. Whereas, Maker price set a mark of an all-time high. Meanwhile, the trading volume of MKR is $99,831,186 in the last 24-hour time-frame representing a decrease in the value of 10.84%.The MKR/ETH pair is down with a value of (1.4139 ETH) which is 5.06% in today’s trading session.
Maker Technical Chart Indicates a Positive Momentum
The technical chart of Maker highlights a positive trend. In contrast, Maker price is at $2192.61. According to fibonacci level, the critical support level for MKR is placed at 0.618fib, whereas if it moves up, the key resistance level to watch is $2500. While diving into the weekly chart of a 4-hour time-frame, it is forming a bullish pattern indicating an upwards momentum for the coin.
Volume indicator with the value (4.678K) reflects a low buying volume in coin. Investors can expect an increase in buying volume in the upcoming trading sessions.
EMA-200, price is at $1140, which acts as another strong support in the coin. The price is above the SMA, and investors can expect a bullish trend in the coin.
MACD indicator (BEARISH), bearish crossover signal line spotted on February 15, 2021, indicating a sell signal in the coin during the trading session.Bars of the histograms are also depicting a bearish momentum
Meanwhile, the RSI indicator (NEUTRAL) with a value of 51.52 indicates a neutral signal in the coin. There is a positive slope in the RSI but its inclination is minimal.One can wait until a significant positive or negative slope is observed in the RSI.
Conclusion
Maker price is up by 2.08% on Tuesday’s trading session. The price is above the 200 SMA of $2192. MKR/ETH pair is performing negative and one can expect a further downtrend.Investors may expect a rise in upcoming trading sessions.One should do their own research before investing.
Technical Levels
Resistance: $2500.0
Support: $1800.0
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
