Maker Price Analysis: MKR Coin Price Struggles To Maintain Its Support Above $2700

• Maker coin price is currently seeing a consolidated momentum with a hint of bearish momentum on the daily chart . It may see a breakout below the $2500
• MKR price technical indicators suggests a downtrend in price for the future. In contrast, MKR/BTC pair is up by 0.25% in the past 24 hours

MKR coin price is seeing a weak consolidated momentum and may test the lower support in future. Maker price is currently trading with a gain of more than 4% and is near the value of $2899. The asset price has a very high ROI which has differentiated it from other projects and benefitted investors.One can invest in MKR as per their risk adversity and price action scenario. 

MKR market dominance along with its market cap has seen a decline in the past few weeks. Maker price has to cover more than 64% of its current price to break its all time high level. Volume to market cap ratio of Maker suggests a strong consolidated momentum for the future.

MKR Coin Price Bears Might Push It To A New Low

The weekly technical chart of Maker Coin price hint towards a bearish momentum for upcoming days. In contrast, on the daily chart the coin price is seeing a consolidated momentum.According to the fibonacci level, the price might see a breakdown below 0.786fib, which might be a start of bear trend in price. MKR price might face resistance on the uptrend near $3500.Meanwhile the bounceback region can be found near $2800

While diving into the daily chart MKR price is looking to give a lower breakout. If the price breaks 5 to 10% below the current level then a strong downtrend can be seen in price. MKR/BTC pair might also see a strong breakout in future

Volume indicator for the MKR coin is near 1.2K with a small selling pressure. One might see a surge in buying volume in future

The coin price has broken down below the 50 and 100 DMA which suggests a downtrend in price .The 100 DMA is near $2990 suggesting a downtrend in price

CONCLUSION 

MKR coin price suggests a consolidated momentum in price but can soon revert to the uptrend. MKR/BTC pair might also hit a low in future

Technical Levels

Resistance: $3500

Support: $2500

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