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MAKER Price Analysis : Maker and Head and shoulder 

MAKER Price
  • The coin is trading at $2,535 around 1.7% down from the previous level
  • The coin is forming a reversal pattern on the chart
  • The coin is trading at 0.07761 BTC around 1.6% down and 1.2781 ETH around 2% down 
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Maker was founded by Rune Christensen in 2018. Its market capitalization is $2,519,033,054 and the circulating supply of 991,328.38 MKR. The volume of the coin is decreasing on the chart. The last 24 hour volume of the coin is $93,934,311. The maker is the governance token of Makerdao 

CHART ANALYSIS 

The coin is launched in 2018 at $535. Coin started its bull run and reached its all time high of $6.3k. Currently the coin is trading at $2555.

On charts we saw the coin forming the head and shoulder pattern which is a reversal pattern.

Coin already formed the left head and shoulder and is working to form  the right shoulder. If the coin completes the whole pattern then we can see some great fall in the coin.

Indicator Analysis

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According to indicator analysis we find that 100 DEMA is acting as resistance for the coin and the 200 DEMA is acting as a support of the coin. We can also see that 100 DEMA crossed the 50 DEMA 

RSI is trading neutral at 45.84. No sign of any divergence in the coin

MACD is showing decreasing momentum as histogram peak is decreasing and MACD line is trading very near to SIGNAL line and we can see crossover of these in 2-3 days 

MAJOR SUPPORT AND RESISTANCE POINT ARE 

SUPPORT = $1812

RESISTANCE = $3097