Maker Price Prediction for Today, October 19: MKR Trends Higher

Updated: 19 October 2022

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.

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Maker retest $1155 level

MKRUSD Price Analysis – October 19

Further increase in bulls’ momentum may increase Maker to $1155, $1223 and $1300 resistance levels. When the bears increase their momentum price may decrease to $1064, $977 and $926 support levels.

MKR/USD Market

Key levels:

Resistance levels: $1155, $1223, $1300

Support levels: $1064, $977, $926

MKRUSD Long-term trend: Bullish

MKRUSD is bullish on the long-term outlook. The coin found support at the support level of $591 on 21 September. The following day, a bullish engulfing candle emerged and price increases to the high of $1155 level. The just mentioned level was tested on October 09. It pulled back to retest the support level of $877. The price bounced up to retest the previous high at $1155 resistance level.

Buyers maintain their position by placed the coin above the two dynamic resistance levels. The trading of Maker (MKR) above 9 periods EMA and the 21 periods EMA may continue. Further increase in bulls’ momentum may increase MKR (Maker) to $1155, $1223 and $1300 resistance levels. When the bears increase their momentum price may decrease to $1064, $977 and $926 support levels. The relative strength index period 14 is at 80 levels and the signal lines pointing upside to indicate buy signal.

MKRUSD medium-term Trend: Bullish

MKRUSD is bullish on the medium-term outlook. The crypto bounced up from the support level of $591. The sellers’ pressure could not break down the just mentioned level. There was a bullish reversal at the same level. The price soars towards the resistance level of $1155. The price is currently pulling back to retest the dynamic support levels.

The currency is trading above the 21 periods EMA and 9 periods EMA at close contact which indicate that the Bulls are in control of the MKR market. The relative strength index period 14 is at 59 levels and the signal lines pointing down to indicate sell signal.

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