Maker Price Analysis – August 27
The Maker price is seen recovering from the low of $3523 as the price mounted up by 1.46%.
Resistance levels: $4000, $4200, $4400
Support levels: $3200, $3000, $2800
MKR/USD is currently changing hands around $3634 at the time of writing. Today’s trading begins with a slight uptrend in the market as the coin moves to touch the daily high of $3707. However, traders are anticipating that the current price movement is an indication of the upcoming price rally in the market as the 9-day moving average remains above the 21-day moving average.
Maker Price Analysis: Where is MKR Price Going Next?
According to the daily chart, the next step for Maker price may be to cross above the 9-day moving average; once this is done, bulls may now face the resistance levels of $4000, $4200, and $4400 respectively. However, as the technical indicator Relative Strength Index (14) moves to cross above 55-level, MKR/USD can manage to sustain the bullish movement towards the $3700 and $3800 resistance levels. Meanwhile, if the coin decides to cross below the 21-day moving average, the support levels of $3200, $3000, and $2800 may be visited.
MKR/BTC Market: Price May Consolidates to the Upside
Against Bitcoin, the Maker price is in a range and it is currently trading below the 9-day and 21-day moving averages. At the moment, the bulls may likely push the coin above the moving averages as the technical indicator Relative Strength Index (14) moves around 50-level.
However, if the bulls succeed in keeping the price towards the upside, the market may likely rise to the resistance level of 0.084 BTC and above but this might not come to play if the 9-day MA crosses below the 21-day MA. However, if the market gains a few more negative moves and falls from the current market value, this could bring the price below the lower boundary of the channel, staying there may cause the coin to reach the support level of 0.070 BTC and below.