X

Maker Price Analysis: MKR Coin Shows Negative Momentum In Volume Oscillators

  • MKR coin price spiked from $3086 to $3128 on Monday’s trading session
  • The 24-hour volume in MKR is at $107.97 Million
  • The MKR/BTC pair was trading at 0.07935 BTC with a loss of 1.40%

The daily technical chart of the MKR coin price action forecasts an uptrend. According to pivot points, MKR’s critical support level is placed at $2200. Whereas if it pushes up, the key resistance level to watch is $3905. While diving into the chart deeply, it forms a Doji candlestick pattern representing bulls and bears both failed to gain the upper hand over the price move.

The Moving Average Exponential (EMA), consisting of 200-EMA, acts as unbroken support in the asset price movement. Investors may witness the price is underneath the red line, so until the price rests below the EMA, it will assure a downtrend in ZEC.

According to the Stochastic RSI indicator (BEARISH), with a value of K-35 D-17, it indicates a selling situation in the coin. Moreover, Investors can see a slight upward slope and a positive crossover in the index, which may surge in future trading sessions.

The volume oscillator (-32.62%) represents a negative momentum. Positive Momentum is required in Maker to sustain the price at higher levels.

The Parabolic SAR also suggests a sell signal in intraday, and Until the yellow dots remain above the price candlesticks, it will assure a bearish trend in Maker positionally.

Maker (MKR) Coin Price May Plunge, Indicators Suggests

MKR coin price traded at $3128 with a gain of 7.2% in the last 24-hour and 10.4% down weekly. Furthermore, the Maker price is moving above its support zones. In contrast, market capitalization stands at $3.21 billion. Technically, investors can perceive the price sustains above the EMA-200. The Stochastic RSI is bearish, but it may surge in the upcoming days with a positive crossover. A negative Momentum in volume oscillator is presented. Hence, The Parabolic SAR also Suggests a sell signal. Moreover, the price movement may cool down a bit in future trading sessions.

Resistance: $3905

Support: $2200

Get this news hand-delivered to you on Telegram. Join our Telegram for similar News and Information related to CRYPTOCURRENCY, BITCOIN, BLOCKCHAIN NEWS, and Price prediction.

Categories: News
Nikhil Ingole: Mr, Nikhil Ingole is a Chief Editor at The Market periodical with over five years of technical analysis & trading experience in Forex and Crypto. As a commerce graduate, he has taken a keen interest in blockchain's future potentials in the financial industry. A keen cryptocurrency enthusiast, he is very supportive of new media projects, pioneer ideas and the Bitcoin community. He possesses strong technical, analytical skills and is well known for his financial market's informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.