Skip to main content

Maker Price Prediction: Will MKR Break Out Bullish?

 


The Maker price has risen by around 52% since September. Will Maker Price Now Break Fib Resistances To Break Out Bullish?


The Maker price has already risen by around 52% since it established its low for the year at around USD 581 last month. The histogram of the MACDs in the monthly chart was also able to close bullishly higher last month and it is also starting to tick bullishly higher this month.


With that, Maker established strong support between USD 581 and USD 794, with Maker already exiting this support to target the next Fib resistances. Maker is now encountering significant Fib resistance at around USD 820 and should Maker break this resistance, the next significant Fib resistance is waiting at around USD 970.


On the downside, significant support awaits between around USD 181 and USD 308 if Maker bearishly breaks the previous support.


Can Maker break the bearish trendline?

If Maker breaks the Fib resistance now, Maker could attempt to break the bearish trend line that has been running throughout the bear market. If Maker breaks the trendline at the 200-week EMA around $1,287, Maker could initiate a bullish reversal.


However, for a fully bullish reversal, Maker needs to break the Fib resistances around $2,800 and $4,200.


Overall, however, things are currently looking quite bullish for makers. The histogram of the MACDs in the weekly chart is ticking bullishly higher and the MACD lines are bullishly crossed.

Should Maker correct now, Maker will already find significant Fib support at around USD 770. In addition, the 50-day EMA is already acting as significant support at around USD 784.


Otherwise, significant support is still waiting for the maker course at around USD 700, because that is where the golden ratio support lies.


However, the MACD is rather bearish in the daily chart. The histogram has been ticking bearishly lower since yesterday. However, the MACD lines are still bullishly crossed and the RSI is giving neither bullish nor bearish signals.

A golden crossover was established in the 4H chart, which confirms the short-term bullish trend. The MACD, on the other hand, is bearish as the MACD lines are bearish crossed and the histogram alternates between bullish and bearish movements.

Against BTC, Maker is now facing the golden ratio resistance around 0.044 BTC. In addition, the 50-week EMA runs at around 0.0456 BTC, which also acts as a resistance. If Maker breaks this resistance, the next significant Fib resistances are waiting at around 0.0617 BTC and 0.081 BTC.


The MACD is rather bullish here, because the histogram is ticking bullishly higher and the MACD lines are bullishly crossed in the weekly chart. Maker is finding support at the trendline around 0.03 BTC.


DISCLAIMER

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin...
Post a Comment
Read more

Phishing attack on popular crypto sites tries to empty wallets

  Several major crypto sites such as Etherscan, CoinGecko, DeFi Pulse, and others report malicious pop-ups scammers use to try to trick users into connecting their MetaMask wallets. The phishing attack came from a domain displaying the Bored Ape Yacht Club (BAYC) logo. "We are investigating the root cause of this attack to fix the threat as soon as possible," CoinGecko founder Bobby Ong tweeted. The phishing attack appears to have been triggered by a malicious ad script from Coinzilla, a crypto ad network, according to CoinGecko. Etherscan also advises its users not to confirm any transactions that may appear on the website. The attackers attempted to use the hype around the “bored monkeys” non-fungible tokens (NFT) to gain access to the cryptocurrencies of unsuspecting website visitors. Although the websites affected by the scam attempt have reacted in the last few hours and deactivated the advertising pop-up, it is still recommended not to connect your MetaMask wallet to ne...
Post a Comment
Read more

Bored Ape Yacht Club NFTs stolen through phishing on Instagram

  Bored Ape Yacht Club ( BAYC ) developers announced on Monday that hackers have hijacked the official Instagram page of the popular NFT collection and posted links to a fake airdrop. Crypto enthusiasts who connected their MetaMask wallet to the rogue website subsequently had their Ape NFTs stolen. Apparently, the attack was planned to coincide with the one-year anniversary of the BAYC collection. This increased the "perceived credibility" of the phishing link. About 100 NFTs are said to have been stolen in the phishing attack . According to CoinGecko data , the minimum price for a BAYC NFT is 139 Ether ( ETH ) or $400,726. So if reports are correct, over $40 million worth of NFTs were stolen in the attack. These numbers are only the lowest estimate, however, as they are based on the lowest price.  At the time of writing, it was still unclear how the hackers gained access to BAYC's official Instagram account. Social media users have pointed out the importance of two-fact...
Post a Comment
Read more