MKR/USD Breaks Above $750 Resistance

The Maker (MKR) price escalates but a break above $800 is expected to pull the coin towards $900 in the coming trading sessions.

Maker Prediction Statistics Data:

• Maker price now – $762
• Maker market cap – $744.6 million
• Maker circulating supply – 977.6 thousand
• Maker total supply – 977.6 thousand
• Maker Coinmarketcap ranking – #58

MKR/USD Market

Key Levels:

Resistance levels: $960, $1060, $1160

Support levels: $600, $500, $400

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MKR/USD is seen trading around the resistance level of $762.09 after touching the daily high of $764.65 in the early hours of today. This is a move that could easily pave the way for gains above $800 and towards $900. Therefore, if the technical indicator Relative Strength Index (14) crosses above the 60-level, the market may show that the bullish grip is getting stronger.

Maker Price Prediction: The Maker Price May Break Upward

The Maker price is currently holding the ground above the 9-day and 21-day moving averages after a major recovery from $727.46. However, this shows that bulls may continue to have the upper hand in the price movement and they could easily push the coin towards the potential resistance of $960, $1060, and $1160. In other words, if the buying action fails to break above $800, then MKR/USD could instead settle for consolidation.

Moreover, any breakout above the upper boundary of the channel will still be having an impact on the price. Furthermore, it is about time that buyers increase their confidence in the recovery because $800 is still achievable. Therefore, if the bears bring the coin below the 9-day and 21-day moving averages, the support levels of $600, $700, and $800 may be reached.

Against Bitcoin, the Maker price remains above the 9-day and 21-day moving averages as the coin moves to cross above the upper boundary of the channel. More so, if the Maker price closes above this barrier, traders might expect a long-term bearish movement.

However, any bearish movement below the moving averages could meet the major support at 3700 SAT before falling to 3500 SAT and below while the buyers may need to push the market to the potential resistance at 4500 SAT and above as the technical indicator Relatively Strength Index (14) crosses above the 60-level to give more bullish signals.

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