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MAKER Price Analysis: Token has lost the second support level at $2427

  • The token has a 24 hours trading volume of 190,846,434 and a gain of 3.22% is seen.
  • The price of the token has changed by 9.47 since yesterday’s opening.
  • The RSI for MAKER suggests SELL.
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The token has been running well below its 200 days moving average and above its 50 DMA. The chart above shows the movement of MAKER with respect to SMA-20, SMA-50 and SMA-200. Along with it, an RSI oscillator is also present. SMA-20 has been floating with SMA-50, sometimes above it(SMA-50) and sometimes beneath. RSI for the last 5 hours shows the value of 55.773 and shows the BUY action. MA-5 and MA-10 show the movement of the SELL action whereas MA-20 shows the buy action. Bull/Bear power is 4.5160 and it suggests buy action. The trendline marked on the chart shows the gradual fall in price of this token. It was the last week of May that the price started to fall and since then it has been gradually decreasing. Total address is 81,872 and its top 10 holders have 48.48% holdings whereas its top 50 and top 100 holders have holdings of more than 70%. The active addresses in the last 24 hours are 1030. The circle marked in the chart shows that today’s selling is only profitable if the coin was bought in this tenure. The days range for the token is 2437-2841.30 and is presently running at 2466.30. Volume/Market cap of the token is 0.0785 and its market dominance is 0.18%. 

The MKR-BTC pair is trailing at the level of 0.07391 and the low by 9.15% is marked whereas the MKR-ETH pair is trailing at the level of 1.1932 and the fall by 5.75% is seen in the last 24 hours.

Conclusion: The token on an average has provided returns of 8-10% in 4-5 days. At present the token is in the selling zone only if you have purchased on the marked time, else if the purchase is done before then wait for the price to rise. The high and low for the token are 5037 and 1821 respectively in the last one month. The high determines its dominance and volatility.

Technical Instruments: 

Pivot: 2485.40

R-1: 2520.93

R-2: 2542.87

S-1: 2449.87

S-2: 2427.93

(Note- The unit is USD)