- Maker(MKR) price is trading at $977.74 with an advance of +1.37% in the last 24 hours.
- The current ranking for Maker(MKR) on CoinMarketCap is #46 as per Coingecko and #42 as per CoinMarketCap as on 08 July 2023.
- Current Open Interest for Maker(MKR) is $56.70M resulting in a decline of -5.72% in the last 24 hours as per Coinglass.
Maker Price Analysis: The current fully diluted market cap of Maker(MKR) is $991,642,233 as per CoinMarketCap.
The Maker ecosystem is one of the first projects in the decentralized finance (DeFi) space, the industry that aims to create financial products that are decentralized on blockchains that support smart contracts, such as Ethereum.
Maker (MKR) reached its peak value of $1080 on Jul 05, 2023 (A few days ago). The current value is -10.17% below the highest value ever and Maker (MKR) has advanced by +17.74% in the past week. There has been a decline of -44.45% in MKR’s trading volume, resulting in $308.42M in the last 24 hours as per Coinglass.
Maker (MKR) has advanced by +17.74% in the past week, doing better than the global cryptocurrency market which has fallen by -1.60%, and also doing better than other Ethereum Ecosystem cryptocurrencies which have grown by 12.70% as per Coingecko.
Maker Price Technical Analysis
EMA: The Maker(MKR) is currently trading above the 20,50-day Exponential moving average resulting in a bullish crossover which is known to be an indication of the presence of buyers in the market and if buyers continue to push the market upwards then Maker(MKR) can show further higher prices in the upcoming days which can further lead to an uptrend.
RSI: Based upon the current market scenario the RSI for Maker(MKR) looks weak as it has been making lower lowing and falling from the overbought level. The current level of RSI is 52 which is theoretically strong but based on the momentum looks weak.
Source: Maker. COINBANSE.4H by TradingView
Market Structure: The Maker(MKR) reversed after making a low of $511.01 and started to make higher levels which resulted in the formation of higher high levels but based upon the recent price action the market is consecutively facing resistance from the higher levels and is creating bearish candles.
Conclusion
By looking at the chart about Maker Price we can see that there is a bullish crossover on the chart and the market has been making higher high levels but by looking at RSI we can see that it has been making lower lows resulting in a bearish divergence and the market has been facing resistance at the higher levels as it is creating wicks at the top and also bearish candlesticks are made. Hence, by looking at the charts weakness in MKR is expected to come in the upcoming days.
Technical Levels
- Support Level – 926, 877 and 803
- Resistance Level – 1026-1041
Disclaimer
The information in this article about Maker Price, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the MKRticle does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.
