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According to the daily chart, the Maker price prediction shows that MKR remains above the moving averages to hit the $1600 level.
Maker Prediction Statistics Data:
- MKR price now – $1538.8
- MKR market cap – $1.5 billion
- MKR circulating supply – 977.6 thousand
- MKR total supply – 977.6 thousand
- MKR Coinmarketcap ranking – #33
MKR/USD Market
Key Levels:
Resistance levels: $1750, $1800, $1850
Support levels: $1250, $1200, $1150
MKR/USD keeps enjoying an increased interest which is helping the coin to stay above the 9-day and 21-day moving averages. However, at the time of writing, Maker (MKR) is hovering at $1538 after hitting a high of $1547 today. Meanwhile, the Maker price remains above the moving averages, with today’s price surge driving market capitalization to a new height.
Maker Price Prediction: Maker (MKR) May Spike to the Upside
The Maker price is hovering above the $1538 level as it is likely to cross above the upper boundary of the channel. However, due to a strong upside movement of the coin, MKR/USD may soon reach the resistance level of $1600. Looking at the daily chart, the $1400 remains a key support zone, and if it is broken, the sell-off may be extended towards the support levels of $1250, $1200, and $1150.
Currently, bulls are making an effort to push the coin above the upper boundary of the channel. Therefore, any bearish movement to the south may welcome the bears back into the market; the price could then hit the critical supports at $1250, $1200, and $1150 while the technical indicator Relative Strength Index moves to cross into the overbought region.
MKR/BTC May Gain More Upsides
In comparison with Bitcoin, the Maker price is beginning to form a bullish trend as it is attempting to cross above the upper boundary of the channel. However, if the bulls maintain the trends, the price may likely hit the resistance level at 6500 SAT and above.
On the other hand, any retracement toward the lower boundary of the channel could bring the Maker price to the nearest support level at 5000 SAT, and this may reach the support level of 4500 SAT and below. Surprisingly, the technical indicator Relative Strength Index (14) moves above the 70-level, suggesting more bullish signals in the nearest term.
Alternatives to Maker
The Maker price is currently holding the ground above the 9-day and 21-day moving averages after a major recovery from $1442. 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 upside.
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