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MAKER Price Analysis: Could expect retracement now, bulls win possible 

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  • The 24 hours trading volume of the token is 99,815,227 and the low of 19.26% was seen. The live price of MAKERis $2426.68
  • The token has shown the pattern of falling three methods.
  • The RSI oscillator for MAKER shows the SELL action.
Tradingview

The MAKER has been running well below its 200 days moving average and also below its 50 days moving average. The chart above shows the movement of the token with respect to SMA-20, SMA-50 and SMA-200. MKR, the token touched SMA-200 and marked with a blue vertical line whereas SMA-50 was achieved earlier which is also marked with a blue vertical line. The average returns for crossing 200 and 50 were 12 and 25% respectively The trendline marked in the chart shows the movement of SMA-20 above SMA-50.

An RSI oscillator is also present in the chart which shows the proper time to buy or sell the token. RSI for the last 5 hours shows the value of 39.263 and marks the sell action. MA-5, MA-10 and MA-20 show the sell action as well. However, the MAKER at present is all set to buy as SMA-20 is below SMA-50 and SMA-200 and it is expected to show a hike in price in the coming time.

The bull/bear power has the massive value of -119.1421 and shows the sell action. The high/low marks the sell action with the value of -39.28..

The MKR-BTC pair is trailing at the level of 0.07703 and the low of 4.08% was seen whereas the MKR-ETH pair is trailing at the level of 1.2865 and the low of 2.687 was seen in the last 24 hours. The token has shown the percentage change by 4.93% since yesterday’s open.

The volume/market cap of the token is 0.04144 and its market dominance is 0.19%.

Conclusion: The days range for the coin is 2389.10-2545.33 and presently is at 2427.11. The MAKER is expected to not show a fall anymore and retracement is expected in the coming time and if you wish to purchase this token then long it as SMA-20 is below SMA-50 and 200. 

Technical Instruments:

Pivot: 2420.53

R-1: 2443.39

R-2: 2457.52

S-1: 2397.67

S-2: 2383.54

(Note- The unit is USD)