Maker is Predicted to Reach $732.74 By May 17, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Maker is up 3.04% today against the US Dollar
• MKR/BTC increased by 4.63% today
• MKR/ETH increased by 3.12% today
• Maker is currently trading 12.89% below our prediction on May 17, 2023
• Maker dropped -11.22% in the last month and is down -48.00% since 1 year ago

MKR price is expected to rise by 14.79% in the next 5 days according to our Maker price prediction

is trading at $ 638.31 after gaining 3.04% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -0.22% in the same time period. MKR performed well against BTC today and recorded a 4.63% gain against the world’s largest cryptocurrency.

According to our Maker price prediction, MKR is expected to reach a price of $ 732.74 by May 17, 2023. This would represent a 14.79% price increase for MKR in the next 5 days.

MKR Price Prediction Chart

Buy/Sell Maker

What has been going on with Maker in the last 30 days

Maker has been displaying a negative trend recently, as the coin lost -11.22% in the last 30-days. The medium-term trend for Maker has been bearish, with MKR dropping by -11.35% in the last 3 months. The long-term picture for Maker has been negative, as MKR is currently displaying a -48.00% 1-year price change. On this day last year, MKR was trading at $ 1,227.51.

Maker reached its all-time high price on May 03, 2021, when the price of MKR peaked at $ 6,244.44. The current MKR cycle high is $ 976.94, while the cycle low is at $ 503.28. MKR has been displaying low volatility recently – the 1-month volatility of the coin is at 5.13. Maker recorded 13 green days in the last 30 days.

Maker technical analysis for today – May 12, 2023

The sentiment in the Maker markets is currently Bearish, and the Fear & Greed index is reading Neutral. The most important support levels to watch are $ 607.17, $ 586.55 and $ 559.53, while $ 654.82, $ 681.84 and $ 702.46 are the key resistance levels.

Bearish sentiment for Maker

6 indicators are currently signaling a bullish prediction for Maker, while 26 indicators are showing a bearish forecast. With 81% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Maker.

Crypto market is currently experiencing Neutral

Currently, the Fear & Greed index is at 49 (Neutral), which signals that investors have a neutral outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Maker moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Maker is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Maker is at 33.14, suggesting that MKR is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Maker over the last 50 days. Currently, Maker is trading above the SMA 50 trendline, which is a bullish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the MKR closing price for the last 200 days. MKR is now trading above the SMA 200, signaling that the market is currently bullish.

The bottom line about this Maker prediction

After considering the above factors, we can conclude that the current forecast for Maker price prediction is Bearish. MKR would have to increase by 14.79% to hit our $ 732.74 target within the next five days. Moving forward, it will be important to monitor the MKR market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Maker price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.