Maker Price Prediction for Today, July 5: MKR/USD Breaks Above $1000 Resistance

Updated: 06 July 2023

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The Maker price prediction shows that MKR will escalate, and a break above $1100 is expected to pull the coin toward $1200 in the coming trading sessions.

Maker Prediction Statistics Data:

Maker price now – $1053
Maker market cap – $1 billion
Maker circulating supply – 977.6 thousand
Maker total supply – 977.6 thousand
Maker Coinmarketcap ranking – #42

MKR/USD Market

Key Levels:

Resistance levels: $1300, $1320, $1340

Support levels: $780, $760, $740

Maker Price Prediction for Today, July 5: MKR/USD Breaks Above $1000 Resistance — MKRUSD – Daily Chart

MKR/USD is seen trading around the resistance level of $1053 after touching the daily high of $1063 in the early hours of today. This is a move that could easily pave the way for gains above $1100 and toward $1200. Therefore, if the technical indicator Relative Strength Index (14) remains within the overbought region, the market may show that the bullish grip is getting stronger.

Maker Price Prediction: The Maker Price May Break Higher

The Maker price is currently holding the ground above the 9-day and 21-day moving averages after a major recovery from $1063. However, this shows that bulls may continue to have the upper hand in the price movement and they could easily push the coin toward the potential resistance of $1300, $1320, and $1340. In other words, if the buying action fails to break above $1100, then MKR/USD could instead settle for consolidation.

Meanwhile, any breakout above the upper boundary of the channel will still be having an impact on the price. Furthermore, it is about time that buyers increase their confidence in the recovery because $1100 is still achievable. Therefore, if the bears bring the coin toward the 9-day and 21-day moving averages, the support levels of $780, $760, and $740 may be reached.

Against Bitcoin, the Maker price remains above the 9-day and 21-day moving averages as the coin moves to cross above the upper boundary of the channel. However, if the Maker price closes above this barrier, traders might expect a long-term bullish movement.

Nevertheless, any bearish movement below the moving averages could meet the major support at 3000 SAT before falling to 2800 SAT and below while the buyers may need to push the market to the potential resistance at 4000 SAT and above as the technical indicator Relatively Strength Index (14) moves into the overbought region to give more bullish signals.

Alternatives to Maker

The Maker price continues to face the uptrend as the buyers increase the pressure above the 9-day and 21-day moving averages. Moreover, if buyers can put more effort and push the market price above the upper boundary of the channel, MKR/USD could hit the resistance level of $1200.

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