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- 1 MKR price has sailed the bullish waves in the past sessions.
- 2 Maker price shows a rising parallel channel on the charts.
Maker (MKR) price sails in an uptrend and continues to spread the gains over the past sessions, delivering bullish momentum. Moreover, the token is continuing the rally post breakout from $1000. Furthermore, the price action formed higher highs and is trading above key moving averages.
Moreover, the chart indicates that buyers have gained traction and persist in accumulation and are looking to retest $1600 in the following sessions. The MKR token has recently shown a breakout of the falling wedge pattern above $800, showing a massive incline.
Maker token price charts have started a fresh move lifting the gains, surpassing the swing hurdle of $1200. However, the price has taken support on the channel’s lower trendline and is ready to form a new swing high toward $1300. Moreover, the trajectory has suggested that this bull move could register a high of $1500 in the following sessions.
However, the chart shows that the token gave a much-awaited breakout above $1000, and the price persisted in surging inside the channel. Furthermore, the MKR token has entered neutrality and is looking to revisit the upper trajectory of $1600.
At press time, MKR price is trading at $1231 with an intraday drop of 0.31% showing neutral indications on the intraday charts. Moreover, the trading volume increased by 5.06% to $49.70 Million, and the pair of MKR/BTC is at 0.419 BTC. However, the market cap of the Maker token is $1.20 Billion.
Maker Shows A Rising Channel On Daily Charts
On the daily charts, MKR price action shows that the correction has ended, and buyers have started a fresh reversal after retesting the demand zone of $400 in the past sessions.
Moreover, the buyers have attained momentum and rescued the muscles and are now ready to revisit the highs of $1500, followed by $1700.
The RSI curve showed a bullish divergence and initiated a fresh buy signal on the charts, giving the bulls an advantage.
The MACD indicator showed a bearish crossover and formed red bars due to the higher low formation in the past sessions. However, the trend is intact, buyers have attained strength, and the bullishness is heading for $1600.
Conclusion:
Maker token price (MKR) has started gaining over the past sessions and is now ready to revisit the highs of $1500, followed by $1700 in the subsequent sessions. Buyers were gaining traction and looked aggressive in the past sessions, acquiring massive strength and retaining gains.
Technical Levels:
Support Levels: $1150 and $1070
Resistance Levels: $1300 and $1450
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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.
