Maker Price Prediction for Today, July 13 – MKR Technical Analysis

The Maker price prediction shows that MKR begins with a steady increase above the $2,400 resistance as it is currently rising and might rally further.

Maker Prediction Statistics Data:

• Maker price now – $2,652.1
• Maker market cap – $2.47 billion
• Maker circulating supply – 930,159 thousand
• Maker total supply – 977,631 thousand
• Maker CoinMarketCap ranking – #41

Since reaching its all-time low of $21.06 on January 30, 2017, the Maker (MKR) has surged by a staggering 12,515.63%. Despite a decline of 58.09% from its peak of $6,339.02 on May 3, 2021, the current trading range of $2,483.98 to $2,669.63 underscores considerable growth from its inception. This underscores the potential for substantial returns for early adopters navigating the volatile landscape of cryptocurrency.

MKR/USD Market

Key levels:

Resistance Levels: $3,200, $3,300, $3,400

Support Levels: $2,000, $1,900, $1,800

MKR/USD keeps trading bullish today as the price hovers above the 9-day and 21-day moving averages. A daily close near the upper boundary of the channel may increase the Maker price to the resistance level of $2,800. However, traders should note that a consistent price increase may bring more buyers into the market as bulls increase their positions.

Maker Price Prediction: MKR May Gain More Uptrends

Despite this positive outlook, the Maker (MKR) price faces significant short-term resistance between $2,550 and $2,650, making it advisable to buy in the immediate term. However, the market is likely to respect this resistance, potentially leading to a pullback to $2,500 or $2,400 respectively. Meanwhile, the long-term prospects remain strong, with the potential for MKR to break this resistance and rally to $2,900 or $3,000, provided the market reacts positively after the anticipated pullback. Nevertheless, the resistance levels of $3,200, $3,300, and $3,400 may play out if the bullish movement continues.

On that note, investors should closely monitor the $2,700 level for signs of a breakout, supported by ongoing bullish momentum indicators such as the 9-day moving average could make a bullish cross above the 21-day moving average. While the long-term outlook is promising, it is crucial to remain cautious of short-term market dynamics as any bearish movement may locate the support levels of $2,000, $1,900, and $1,800.

MKR/BTC Goes Bullishly

Against Bitcoin, the Maker price is moving to cross above the upper boundary of the channel as the coin prepares another bullish movement. However, MKR/BTC may create additional gains, which could hit the resistance level at 5300 SAT and above.

On the contrary, if the sellers bring the market to the south, traders can expect a bearish drop below the moving averages, breaking below this barrier may locate the support at 3500 SAT and below. Meanwhile, the 9-day MA may need to remain above the 21-day MA, suggesting more bullish signals within the channel.

Moreover, @Impulse606, with over 10,000 followers on X (formerly Twitter), highlighted that $MKR boasts one of the most visually appealing weekly charts in the market.

$MKR probably has one of the best looking weekly charts out there pic.twitter.com/UUPN0f31dR

— Impulse (@Impulse606) July 13, 2024

Maker Alternatives

Maker (MKR) is experiencing an upward trend, trading above its 9-day and 21-day moving averages. If it breaks the $2700 resistance, further gains are possible, though its $2.47 billion market cap may limit short-term percentage increases. Meanwhile, PlayDoge has raised $5.6 million in its presale, indicating strong investor confidence. These funds are being used to enhance the game’s features, including a robust web3 website and a high-quality game demo.

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