MKR Price Analysis – April 25
Maker (MKR) has recorded a downtrend of 8.02%, in the last 24 hours; the coin has declined from $4149 to $3677.
Resistance levels: $4500, $4700, $4900
Support levels: $3200, $3000, $2800
MKR/USD bulls were rejected after touching the daily high of $4149 level and the coin drops to $3677 low today. The price is floating in an upward channel formation crossing below the 9-day moving average. The technical indicator RSI (14) indicates increasing bearish momentum as the signal lines move below 65-level, indicating that the market sentiment is presently bearish.
What to Expect from Maker (MKR)
Currently, the coin is changing hands at $3696 where it faces down. More so, if the price of MKR rises again and break above the upper boundary of the channel, the coin may begin its upward movement to retest the previous high. The nearest resistance levels that it might reach are $4500, $4700, and $4900 while the support levels to watch are $3200, $3000, and $1800 respectively giving a low trading volume.
MKR/BTC Market: Price Remains at the Upside
Against Bitcoin, MKR price has been dropping since the beginning of the day after touching the daily high of 8251 SAT as the coin faces the south at the moment. The next level of support may surface at 7200 SAT and then locate further key support at 6500 SAT and 6000 SAT levels if the sell-off later becomes huge.
However, on the upside, if the bulls can gather enough momentum to push the price above the upper boundary of the channel, the MKR price could face the 8500 SAT resistance. Any further resistance lies at 9000 SAT and above while the RSI (14) moves below 80-level within the overbought region and if the indicator leaves this region, it may bring more bearish pressure into the market.