- The coin is trading at $2538 around 1.52% down form the previous level
- The coin is facing rejection from the downtrend line
- The coin is trading at 0.0736 BTC around 1.93% down and 1.1705 ETH around1.46% down with respect to bitcoin and ethereum
The coin was founded in 2015 by Rune Christensen, the main purpose of which is to create a line of decentralized digital assets that would be tied to the value of real instruments such as currency, gold, etc. the coin has the market capitalisation of $2,552,094,917 and the circulating supply of 1,005,577MKR .the coin shows the less bearish volume which indicate that the coin have some bull run left.the last 24hrs volume of the coin is $91,979,488 which is around 9.34% from the previous level.
On charts we can see that the coin is in downtrend and facing rejection from the downtrend line. If the coin fell from the current level then we can see lower lows and lower high patterns in the coin. If the coin fell to $1877 level then we can see the formation of head and shoulder pattern in the coin. The coin made an all time high of $6347 and fell from there to its support .
According to indicator analysis we get to know that the coin is trading below its all major moving averages. 200 EMA is acting as resistance for the coin. 50 EMA and 20EMA are showing buying interest in the coin.
RSI is trading neutral at 49.90 and no sign of any divergence in the coin.
In MACD we can see that the MACD line is trading above the signal line which is bullish signal for the coin and increasing bullish histograms indicate increasing of bullish momentum