As the technical indicator moves upward, the Maker price prediction reveals that MKR is currently trading at $718.6.
Data for Maker Prediction:
Current manufacturer price is $718.6
Supply in circulation for makers: 977.6 million
977.6 million were produced by the maker.
Making up position 67 on Coinmarketcap
Market MKR/USD
Major Levels:
Levels of resistance: $950, $1000, and $1050
Levels of assistance: $550, $500, $450
As its price soars toward the channel’s upper boundary with a gain of over 3.47%, MKR/USD is still moving sideways. The Maker (MKR) bulls are still trading above the 9-day and 21-day moving averages as of this writing, with the upside cap set at $809.
Maker coin price forecast: Maker (MKR) may reach new highs
Although the Maker price continues to trade above both the 9-day and 21-day moving averages, the bullish rally failed to gain traction above the $800 mark. The bulls have returned to the market as long as they hold the currency above the moving averages. During the European session today, the coin was unable to overcome the obstacles in the channel. However, a bullish break in the direction of the channel’s upper edge could start a bull run that could eventually reach the resistance levels of $950, $1000, and $1050.
However, the daily chart shows that MKR/USD may have a tendency to move higher as the technical indicator approaches crossing above the 50-level. However, if the buyers are unable to move the coin higher, it may descend beneath the channel’s lower dividing line and crash into the $550, $500, and $450 support levels.
In comparison to Bitcoin, the Maker price may continue to advance in the direction of the channel’s upper border in order to hit the nearest resistance at 3000 SAT. There may be no reason to anticipate a positive continuation until this coin passes above this level and the price closes above it. If the bullish trend continues, it may eventually approach the 3800 SAT and higher resistance levels.
On the other hand, if the currency drops below the bottom channel barrier, it may hit the main support at 1600 and below. To support the bullish momentum, the technical indicator Relative Strength Index (14) is still above the 40-level.
Alternatives to Maker
The Maker (MKR) is currently up over 3.47% and has reached its daily high of $809. The cryptocurrency is, nevertheless, continuing to trade above both the 9-day and 21-day moving averages. While this is happening, traders should anticipate Maker to progressively get ready for a journey toward the upper channel border. Love Hate Inu has funded close to $3.5 million and aims to use Ethereum blockchain technology to provide safe, irreversible poll and survey data that cannot be altered in any way.
