The Maker price prediction renewed the bullish trend after crossing above the moving averages to touch the daily high at $0.44.
Maker Prediction Statistics Data:
- MKR price now – $1316
- MKR market cap – $1.28 billion
- MKR circulating supply – 977.6 thousand
- MKR total supply – 977.6 thousand
- MKR Coinmarketcap ranking – #36
Resistance levels: $1600, $1650, $1700
Support levels: $1000, $950, $900
MKR/USD is currently experiencing an upward trend as it approaches the upper boundary of the channel. Notably, Maker (MKR) is currently trading above the 9-day and 21-day moving averages, indicating a potential bullish sentiment. Therefore, if MKR manages to break through the resistance level at $1350, it may continue its upward trajectory.
Maker Price Prediction: MKR Bulls are favoring the Upside
As of the time of this analysis, the Maker price is on a recovery path toward the $1400 resistance level. The initial breakthrough above the 9-day and 21-day moving averages provided a significant boost to its price. However, for Maker (MKR) to achieve further highs, it needs to breach the upper boundary of the channel. Meanwhile, it’s important to note that additional resistance may come into play, with the closest one situated at $1350.
Nevertheless, the current trend remains favorable for the bulls, as supported by technical indicators such as the Relative Strength Index (RSI 14), which is moving toward the overbought region. Moreover, a successful break above the resistance levels at $1600 and $1650 could potentially propel the coin above the $1700 resistance level. On the contrary, a bearish movement below the lower boundary of the channel could lead to support levels at $1000, $950, and $900.
MKR/BTC Initiates an Upward Movement
In the MKR/BTC pairing, the price is consolidating upward, trading above the 9-day and 21-day moving averages. Bulls are actively pushing the price toward the upper boundary of the channel. Any further bullish movement above this barrier could potentially drive the price to the resistance level at 6000 SAT and above.
However, if MKR/BTC decides to reverse its course and follow a downtrend, sliding toward the lower boundary of the channel might lead to a critical support level at 4000 SAT or below. The Relative Strength Index (14) in this case is showing bullish signals by moving to cross above the 70-level, indicating potential upward momentum.
The current Maker price is maintaining its position above the 9-day and 21-day moving averages, following a significant rebound from a low of $1289. This trend suggests that the bulls are in control of the price action and may have the capacity to drive the coin toward the upper boundary of the channel.
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