- Maker coin at the monthly chart is trying to hold its vital support zone after a sharp decline from the higher side.
- The crypto asset is currently trying to rebound after a deep correction from the higher side, and volume activity is slightly average.
- The pair of MKR/BTC is trading at 0.03985 BTC with an intraday loss of +2.76%, and the ratio of MKR/ETH is CMP at 0.5626 ETH with a 24-hour change of -1.20%
Maker coin at the monthly chart is trading near its primary support zone, and the sustainability above its support range will create substantial upside. Volume activity is still average and needs a sharp increment in upcoming trading sessions. The overall medium to long-term trend is still neutral; until the coin manages to sustain above demand zone will create more upside. Over the longer-term trend is still sideways, and no clear direction is visible. Once the coin maintains above its vital moving averages, the supportive volume activity will boost more buyers in upcoming sessions.
Support on the lower side is $2180 and $1875, whereas resistance on the higher side is $2560 and $2720.
Maker coin is trying to move higher after a sharp selloff from the higher levels
Maker coin at the weekly chart is trying to move higher after a sharp selloff from the higher levels. Meanwhile, the technical parameters are also trying to recover from the lower levels and heading towards the higher side. Volume activity at the 4-hour time frame is average and needs to improve sharply for a strong bounce back. MKR price is trading at $2240 with an intraday dip of +3.21%, and the volume to market cap ratio is 0.04885.
Relative Strength Index (BULLISH): Maker coin RSI is heading towards the higher or overbought zone at the weekly chart. In contrast, the coin trades near the neutral area and projects a slight recovery with good buying action, RSI at 52.
Moving Average Convergence Divergence (BULLISH): The daily chart projects a bullish trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) overpowers the seller’s line (red) with a positive crossover.
Support levels: $2180 and $1875
Resistance levels: $2560 and $2720.