Maker (MKR) Price Prediction: Will MKR Price Break the $1,500 Barrier?

Updated: 21 September 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

The Maker DAO token (MKR) experienced a second bullish leg, surging by 15% and reaching the resistance point of $1385.

According to GeckoTerminal.com, as of 7:20 a.m. EST, MKR is trading at $1311, reflecting a 0.7% increase in the last 24 hours and a 13% increase in the last seven days.

Moreover, its daily trading volume is $108 million, a gain of about 15%. Can MKR continue with the uptrend and the $ 1,500 barrier?

MKR Encounters A Double Bottom Pattern

MKR/USD Chart Analysis. Source: Geckoterminal.com — MKRUSD Chart Analysis. Source: Geckoterminal.com

MKR is exhibiting a gradual uptrend, spurred by the formation of a bullish pin bar at $597. Nevertheless, the bulls have hit a roadblock at $1385, forming a double-bottom pattern that suggests an impending shift toward a bearish trend.

If this pattern holds, the bears could gain control, pushing the price down to the double bottom’s neckline at $1000 and potentially even lower to the critical support level at $600.

The moving average lends further credence to this bearish perspective, provided the price continues to trade below it.

Currently, the moving averages sit above the price, indicating that the bulls still retain a chance to drive prices upward.

The relative strength index (RSI) supports the bullish outlook, standing at 64, suggesting a general surge beyond the overbought region, which could encourage the bulls to reach higher price levels.

However, our analysis leans towards a bearish bias for MKR’s price, reinforced by the double bottom pattern, with key support zones identified at $1003 and $600.

On the flip side, if the price-moving averages remain resilient and a candlestick opens above the resistance zone, this could offer a platform for the bulls to regroup and potentially propel prices to resistance zones at $1385 and $1500.

BTCBSC continues to captivate investors seeking promising returns and significant potential. Combining Bitcoin’s intrinsic value with Binance Smart Chain technology, BTCBSC offers a distinctive opportunity within the cryptocurrency market.

BTCBSC Raises More than Half its $6.023 Million Soft Cap

BTCBSC’s presale phase has raised over $3.97 million in investments, exceeding over half its intended $6.023 million soft cap target.

https://twitter.com/Bitcoinbsctoken/status/1704492282232140219?s=20

The token is poised for potential growth of up to 200x. Its unique expansion strategy and competitive features set it apart from other Bitcoin forks.

Bitcoin BSC combines Bitcoin’s value with BNB Chain’s technology, providing a promising crypto opportunity reminiscent of Bitcoin’s early rapid growth. This makes it an excellent choice, particularly in light of Bitcoin’s recent challenges.

The presale, which started in early September 2023, has already raised over $3.979 million, offering tokens at the current price of $0.99, equivalent to Bitcoin’s price in April 2011.

This presale has garnered significant attention in the crypto community, with some analysts speculating about the potential for substantial profits, possibly reaching 200 times the initial investment.

Bitcoin BSC operates as a BEP-20 token on the Binance Smart Chain (BSC), prioritizing staking as an alternative to traditional mining.

Earn Rewards and Passive Income Through BTCBSC Staking Opportunities

If you are interested in passive income, you can participate in BTCBSC staking with rewards tied to the number of tokens staked, similar to Bitcoin’s original block reward system.

The staking pool is already operational, offering 0.25 BSC per reward block, and approximately 2,035,941 Bitcoin BSC tokens are actively staked.

The estimated annual percentage yield (APY) stands at an impressive 129%, reflecting the project’s commitment to rewarding and incentivizing its loyal investor community.

The team has made an initial 4 million tokens available, with an additional 2.125 million in reserve in case of a rapid sell-out. The project’s hard cap will reach $6.125 million if all tokens are sold.

Staking rewards are directly proportional to the number of tokens staked and are distributed at ten-minute intervals.

A substantial 69% of the total BTCBSC token supply has been allocated for staking rewards, ensuring a generous supply of tokens for rewarding investors for an impressive 120 years.

BTCBSC can be acquired through the official BTCBSC website, which offers multiple payment options, including ETH or USDT (ERC-20), BNB or USDT (BEP-20), or card payments via Wert. All purchases made through the ETH contract will be transferred to the BNB presale contract once the presale phase concludes.

https://twitter.com/Bitcoinbsctoken/status/1704405097319379401?s=20

YouTube crypto influencer No Bs Crypto, boasting over 34,000 subscribers, has provided a comprehensive breakdown of the BTCBSC token, explaining its nature and the steps to acquire it.

https://youtu.be/ZTPemOcKaA4

Upon the presale’s completion, token claims will be processed through the BSC network. Therefore, even if a user purchases with ETH, BNB will still be necessary to cover the gas fees during the claiming process.