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- 1 MKR crypto price is under the bullish dominance.
- 2 Maker crypto price is currently trading at $1473.45 with a drop of 2.59% in the last 24 hours with a current market cap of $1.44 Billion.
Maker price prediction suggests that the MKR crypto is presently in an uptrend after breaking out of the bear’s stronghold. The price is above the critical EMAs on the daily time frame. The volume is seeing a slight decline which indicates that there is a fall in buying and selling activity.
If the price gains buyers’ support at the present level, it could see surge up to the $1700 level within the next few weeks whereas the immediate support level for the MKR token is below around $1275. The price movements are relevantly more stable for MKR crypto than other major cryptocurrencies.
The buyers have an adequate probability of attaining the expected target if they are able to sustain the price above the 200 EMA which would put the anticipated outcomes in the bulls’ favor. The present value of MKR is $1473.45 and it has a market capitalization of around $1.44 Billion (press time)
Maker price has been trading in a bull trend for the past few months. After making a breakout MKR crypto price has been finding consistent support from the bulls from the trendline. Observing the historical price action, it can be estimated that the 200 EMA level has been acting as a crucial demand zone.
Technical Analysis of Maker Crypto Price in 1-D Time Frame
Maker (USD: MKR) has steadily seen its crypto price rise for the past three months, gaining 76.74%; and 40.52% in the last month. Currently, MKR crypto is trading at $1473.45 and has been trying to hold on to this level after an unexpected surge in price.
If it can sustain at this level, Maker price could continue to go up and reach the first and second targets of $1599 and $1700, respectively. However, if the MKR price cannot maintain this level and falls, then it might hit the closest support levels of $1212 and $1103.
Currently, Maker crypto (USD: MKR) is above the 50 and 200-day SMAs (simple moving averages), which are supporting the price momentum.
However, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, the Maker price is expected to move upwards giving bullish views over the daily time frame chart.
The current value of RSI is 69 points. The 14 SMA is above the median line at 66 points which indicates that the Maker crypto is bullish.
The MACD line at 83.65 and the signal line at 61.07 are above the zero line. A bullish crossover is observed in the MACD which signals strength in the momentum of the MKR crypto price.
Summary
Maker (USD: MKR) technical oscillators also support the bullish trend. The MACD, RSI, and EMAs are emphasizing positive signs and imply that the uptrend may continue in the MKR crypto price. Price action suggests that the investors and traders are bullish on the 1-Day time frame. The price action reflects a bullish perspective at the moment. However, investors and traders should wait for proper setup for the next move and avoid FOMO.
Technical Levels
- Support Levels: $1212 and $1103.
- Resistance Levels: $1599 and $1700.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
