Maker Price Prediction Indicates Positives Trend Into The Weekend, What's Next?

Maker (MKR) price recovered to $500 after declining below $1000.
Trading volume increased by 20% overnight and was reported at $16.5 million.
Maker token, belonging to the bitcoin pair, is up 1.3% at 0.0316 satoshis.

Marker (MKR) token price lost the key volatility zone of $1000 at the end of October. Thus since the breakdown the buyers lost control over the MKR token and the bears dominated the crypto till now. So far, buyers are barely making an effort to keep the cryptocurrency above the $500 mark.

During the downtrend, the buyers shed all-important support levels, flipping to the $620, $700, $900, and $1000 resistance areas. Bears have placed massive sell orders at bullish barriers to keep Maker (MKR) price below the $1000 conceptual round level.

Amid continues lower-lows trend, bears recorded annual low at $508, close to $500 support level. Later on, Maker (MKR) crypto price is consolidating above 500 mark but trading volume appears low for bounceback.

Buyers actively accumulate MKR crypto for past two days, and today also buyers maintain price in green. Meanwhile, Maker price (MKR) against the USDT stays at $523 at press time. Buyers force observes weak, bears may move ahead for $500 level breakdown soon if price consolidates more ahead.

Market capitalization increased 1.54% and buyers saw gain at $511.6 million. Notably, trading volume spiked 20% overnight and reported at $16.5 million. Moreover, Maker token belonging to the Bitcoin pair is up 1.3% at 0.0316 satoshis.

Buyers have many bullish hurdles on the higher side, as per EMA ribbon indicator. In fact, 200 EMA stood to be a vital defending zone. MFI indicator is gradually rising higher when the Volume oscillator is stepping back into the negative region.

Conclusion

The Maker (MKR) price is expanding towards the $600 level, which may act as a resistance. In addition, MFI indicator shows money inflow in MKR.

Support level – $500 and $400

Resistance level – $600 and $1000

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing