MKR trades below 50 and 200 EMA on the daily timeframe.\u00a0
\nPrice breaks out of a falling wedge with eyes set on key resistance of $800.
\nThe price looks strong on low and high timeframes.<\/p>\n
Maker DAO (MKR) price has had a rough time recently as price beaks out of falling wedge on the daily timeframe against tether (USDT). Despite being a major player in the crypto industry, the price of Maker DAO (MKR) has struggled to replicate its run to a high of $8,000. (Data from Binance)<\/p>\n
Maker DAO (MKR) Price Analysis On The Weekly Chart\u00a0<\/p>\n
The price of MKR has had a fantastic run, with such movement from a low of $750 to a high of $8,000 in a matter of weeks, creating a sense of surrealism in the hearts of traders and major crypto players.<\/p>\n
Despite such a run, the bear market has had an impact on MKR\u2019s price, which has fallen from $8,000 to $600, a drop of more than 70% from its all-time high.<\/p>\n
The price of MKR rallied from its weekly low of $600 to a high of $1,100 before failing to break above that region to higher heights and falling to a low of $650.<\/p>\n
MKR\u2019s price must break and close above $1,100 in order to have a better chance of trading higher. The price of MKR has formed a downtrend line, which is acting as resistance; flipping the area of $1,100, which is acting as weekly resistance, into support will signal a more relief bounce for the price of MKR.<\/p>\n
If the price of MKR fails to break through this key resistance region, the price of MKR may retest the $600 support and demand zone for more buy orders.<\/p>\n
Weekly resistance for the price of MKR \u2013 $1,100<\/p>\n
Weekly support for the price of MKR \u2013 $650.<\/p>\n
Price Analysis Of MKR On The Daily (1D) Chart The daily timeframe for MKR prices looks promising, as prices broke out of a falling wedge<\/a>, indicating a shift from a downtrend to an uptrend. With this volume from MKR prices, we could see them retest their daily resistance of $800.<\/p>\n On the 1D timeframe, MKR is currently trading at $681, below the 50 and 200 Exponential Moving Averages (EMA), which act as resistance. The resistance levels of the 50 and 200 EMAs are represented by the prices of $790 and $1,200, respectively.<\/p>\n The price of MKR needs to flip the $1,000 resistance into support to signal a relief bounce as the price of MKR has kept trading at its daily low.<\/p>\n The Relative Strength Index (RSI) for MKR is above 40 on the daily chart, indicating low buy order volume.\u00a0<\/p>\n Daily resistance for the MKR price \u2013 $800.<\/p>\n Daily support for the MKR price \u2013 $600.<\/p>\n Featured Image From Market Periodical, Charts From Tradingview<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n MKR trades below 50 and 200 EMA on the daily timeframe.\u00a0 Maker DAO (MKR) price has had a rough time recently as price beaks out of falling wedge on the daily timeframe against tether (USDT). Despite being a major player in the crypto industry, the price of Maker DAO (MKR) has struggled to replicate its run to a high of $8,000. (Data from Binance)<\/p>\n Maker DAO (MKR) Price Analysis On The Weekly Chart\u00a0<\/p>\n The price of MKR has had a fantastic run, with such movement from a low of $750 to a high of $8,000 in a matter of weeks, creating a sense of surrealism in the hearts of traders and major crypto players.<\/p>\n Despite such a run, the bear market has had an impact on MKR\u2019s price, which has fallen from $8,000 to $600, a drop of more than 70% from its all-time high.<\/p>\n The price of MKR rallied from its weekly low of $600 to a high of $1,100 before failing to break above that region to higher heights and falling to a low of $650.<\/p>\n MKR\u2019s price must break and close above $1,100 in order to have a better chance of trading higher. The price of MKR has formed a downtrend line, which is acting as resistance; flipping the area of $1,100, which is acting as weekly resistance, into support will signal a more relief bounce for the price of MKR.<\/p>\n If the price of MKR fails to break through this key resistance region, the price of MKR may retest the $600 support and demand zone for more buy orders.<\/p>\n Weekly resistance for the price of MKR \u2013 $1,100<\/p>\n Weekly support for the price of MKR \u2013 $650.<\/p>\n Price Analysis Of MKR On The Daily (1D) Chart
\nDaily MKR Price Chart | Source: MKRUSDT On Tradingview.com<\/a><\/p>\n
\nPrice breaks out of a falling wedge with eyes set on key resistance of $800.
\nThe price looks strong on low and high timeframes.<\/p>\n
\nDaily MKR Price Chart | Source: MKRUSDT On Tradingview.com<\/a><\/p>\n