Maker (MKR) Price Prediction: Bullish Momentum Expected to Push MKR Above $1300
The Maker price prediction indicates that MKR is likely to surge, with a break above $1300 potentially pushing the coin towards the upper boundary of the channel.
Maker Prediction Statistics Data:
- Current Maker price: $1237
- Market cap: $1.2 billion
- Circulating supply: 977.6 thousand MKR
- Total supply: 977.6 thousand MKR
- Coinmarketcap ranking: #36
MKR/USD Market Analysis
Key Levels:
Resistance levels: $1500, $1550, $1600
Support levels: $950, $900, $850
The MKR/USD pair is currently trading near the resistance level of $1237.8, having reached a daily high of $1245.9 earlier today. This upward movement could potentially pave the way for further gains above $1300 and towards $1400. If the Relative Strength Index (RSI) crosses into the overbought region, it may indicate a strengthening bullish grip on the market.
Maker Price Prediction: MKR May Break Higher
The Maker price has successfully held above the 9-day and 21-day moving averages after a significant recovery from $1156. This suggests that bulls are likely to maintain control and could push the coin towards potential resistances at $1500, $1550, and $1600. However, if buying pressure fails to break above $1300, consolidation could occur instead.
Nevertheless, any breakout towards the upper boundary of the channel could still impact the price positively. Buyers need to gain confidence in the recovery as $1300 remains an achievable target. If bears push the coin below the lower boundary of the channel, support levels at $950, $900, and $850 may come into play.
MKR/BTC Continues to Surge
In terms of Bitcoin, the Maker price remains above the 9-day and 21-day moving averages, indicating an upward trend. A close above the resistance level of 5000 SAT could signal a long-term bullish movement.
If there is any bearish movement below the moving averages, major support can be found at 4000 SAT before potentially falling further to 3800 SAT and below. On the other hand, buyers may need to drive the market towards potential resistance levels at 5300 SAT and above as the RSI moves into the overbought region, providing more bullish signals.
Alternative Options to Maker
The Maker price continues its bullish movement as it hovers near the resistance level of $1237.8. Further positive momentum could lead to a breakthrough at $1300. Traders should be aware that sustained price increases may attract more buyers as bullish positions grow stronger.
It’s worth noting that the token has reached its final stage, offering an opportunity to purchase it at a low presale price before its official launch on exchanges. Over $25 million has already been raised in preparation for this launch in the coming days.
Hot Take: Bullish Momentum Expected to Propel MKR Towards New Highs
The Maker price prediction suggests that MKR is poised for a significant surge. With resistance levels above $1300 within reach, bulls are likely to dominate and push the coin towards new highs. Traders should closely monitor the RSI and key support levels to gauge the market’s strength. Additionally, alternative options to Maker are available, but the ongoing low presale price presents an attractive opportunity for potential investors. As MKR prepares for its official launch, it has already garnered substantial funding, indicating strong market interest. Keep a close eye on MKR as it continues its bullish momentum.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.