Maker price prediction remains bullish for the long term till MKR crypto sustains above $1000. It shot up 10% in the previous session and formed a giant bullish candle.
MKR price holds the $1000 level and buyers succeed in breaking the 50-day EMA. It shows that the short-term as well as positional trend is in an upward direction.
For the past few days, the Maker price has been stuck in the range between $985 to $1100. Surprisingly, in the recent up move the MKR crypto breakout of the higher range which triggered the positive sentiment.
However, it will be interesting to see whether the buyers are able to give the follow-up momentum or not.
In the beginning of July, Maker’s price breakout of the $800 hurdle with a strong buying volume. Later, many investors turned bullish and prices began to rise by forming higher highs.
The rally took a halt near $1370 and showed minor profit booking. MKR price retraced down to the 50-day EMA and corrected 20% approx. Luckily, the buyers defended $1K and prices entered into consolidation.
Will Maker Price Continue the Momentum?
Maker price prediction favors the bulls and suggests more room for upside is open. In the recent up move in MKR crypto, a rise in buying volume is also visible. It shows that whales are active and expecting an outperformance in the coming months.
Till MKR price sustains above the 200-day EMA, the prices are expected to remain in the bulls’ grip and upward momentum might continue. Presently, Maker price is trading at $1156 with an intraday rise of 0.09%.
The 24-hour volume to market cap is 13.42%. The technical analysis suggests MKR prices are in an uptrend and buyers might continue its dominance in September month.
MKR Price is Bullish on Multiple Time Frames
MKR Price is bullish on daily as well as on weekly time frames. Buyers seem more active and aggressive as compared to sellers.
Therefore, investors must add MKR crypto to their watchlist. If the prices retrace down it will provide a good opportunity to accumulate the gem at a reasonable price.
Moreover, if the overall crypto market recovers then it might positively affect the Maker and fuel the rally. The MACD curve generates a fresh positive crossover indicating buyers are returning back to track. The RSI at 55 denotes the strength of bulls. It indicates that the rally has just begun and more upside is possible.
Conclusion
Maker price prediction remains bullish for the short term as well as for the long term. MKR price is in a strong uptrend and bullish momentum is intact. The technical analysis suggests the rally has just begun in Maker crypto and more upside is pending.
Technical levels
- Resistance levels: $1200.00 and $1369.00
- Support levels: $980.00 and $829.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/09/01/maker-price-prediction-mkr-price-surges-10-1400-coming/