MKR/USD Drops Below $230 as Price Resumes Downtrend

As the daily chart shows, the Maker price prediction keeps dropping below the moving averages following the current bearish action in the market.

Maker Prediction Statistics Data:

• Maker price now – $1028
• Maker market cap – $1 million
• Maker circulating supply – 977.6 thousand
• Maker total supply – 977.6 thousand
• Maker Coinmarketcap ranking – #49

MKR/USD Market

Key Levels:

Resistance levels: $1400, $1500, $1600

Support levels: $800, $700, $600

The daily chart shows that MKR/USD is now recording some losses after trading above the resistance level of $1100 in the past few days. The Maker price continues to follow the bearish trend as the crypto moves to cross below the 9-day and 21-day moving averages.

Maker Price Prediction: Maker (MKR) Ready to Break More Downs

The Maker price is likely to break more downtrends if the coin fails to recover above the current trading level. Therefore, the more it falls, the more the traders may see the crypto fall to a new trading low. However, a break below the 21-day moving average may bring the coin toward the lower boundary of the channel. The short-term technical analysis reveals that MKR/USD may locate the critical supports at $800, $700, and $600 if the sellers increase the pressure.

Looking at the daily chart, a break above the upper boundary of the channel may push the Maker price to the nearest resistance level of $1100 while a further push could take it to $1400, $1500, and $1600 resistance levels. As it stands now, the technical indicator Relative Strength Index (14) heads to the south, crossing below 60-level may cause the market to experience another deep fall.

Against Bitcoin, Maker (MKR) keeps experiencing a downtrend within the channel in the past few days. The coin recently breaks under solid support at 5400 SAT and may continue to fall through subsequent support levels if it crosses below the 9-day moving average. Meanwhile, the critical support level could be located at 4500 SAT and below.

However, if the bulls manage to power the market, traders could find the resistance level at 6500 SAT and above. The Maker price is currently changing hands at 5372 SAT, but a surge in volatility may occur as the technical indicator Relative Strength Index (14) crosses below the 70-level, which indicated that more bearish signals may come to play.

Currently, the IMPT token is more than midway through its presale and has thus far experienced dramatic success, having now raised around $6m.

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