- MKR performed negatively on MAR 11, 2021 trading session while making a 52 week high on Feb 20,2021
- Maker price is $2129.14, which is down by 3.92% in the last 24-hour time-frame and 3.21% up from the previous week
- MKR/BTC pair is performing negative with a loss of 4.60% in Thursday’s trading session (0.03832 BTC)
Maker had positive momentum on the weekly chart, and it went up to $2317 on March 11, 2021, while breaking above the resistance zones created in the past. Whereas, Maker price set a mark of an all-time high on Feb,20,2021. Meanwhile, the trading volume of MKR is $113,720,986 in the last 24-hour time-frame representing a increase in the value of 11.84%. The MKR/ETH pair is down with a value of (1.182 ETH) which is 0.26% in today’s trading session.
TECHNICAL CHART INDICATES A CONSOLIDATED TRAP FOR MAKER PRICE
The technical chart of Maker highlights a consolidatedtrend. In contrast, Maker price is at $2134.61. According to fibonacci level, the critical support level for MKR is placed at 0.382fib, whereas if it moves up, the key resistance level to watch is $2400. While diving into the weekly chart of a 4-hour time-frame, it formed a supply zone.If the price goes above the supply zone than price can see a 10% upside.If the price goes below the supply zone than a strong downside movement can be seen.
Volume indicator with the value (2.178K) reflects a low selling volume in coin. Investors can expect an increase in buying volume in the upcoming trading sessions.
SMA-50, price is at $2036, 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.
Meanwhile, the RSI indicator (Bearish) with a value of 44.52 indicates a bearish signal in the coin.There is a negative slope in the RSI which showcases that the price can observe a downtrend.One can wait until a significant positive slope is observed in the RSI.
CONCLUSION
Maker price is down by 3.67% on Thursady’s trading session. The price is above the 100 SMA of $1664. 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: $2500.00
Support: $1800.00
