I noticed the orderbook is very thin of maker so I dug a bit deeper and found out both uniswap and sushiswap have been doing a lot of swaps from eth to mkr. If you look at the volumes being traded and the liquidity that is actually there we might be heading to a shortage causing the uniswap pricing curve to go up in very bug jumps.
all pivot points fall outside the yellow box of no resistance. After that we're quickly heading into an exponential growth
In this chart you can see we´re right now heading into a zone with virtually zero resistance, as soon as asian session begins and the current trend continues it isn´t eth but mkr actually pumping because of the liquidity shortage. More information can be seen here: analytics.sushi.com/tokens/0x9f8f72aa9304c8b593d555f12ef6589cc3a579a2 because MKR has no other real pairs besides Eth arbitrage becomes very expensive
Very interesting about the eth to MKR swap! I've been studying MKR all this year! Like, no one hardly talks about it and the daily swing percentages with this coin is awesome for swing trading.
harpazo
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On the one hour and four hour charts, it looks like it's coming down now. and the MACD, RSI, and ADX data would confirm that. Might be some support around $2330 or so. If you're day trading it, the one minute chart shows a big consistent dip right now so it's worth watching for day trading in that regard.
Thanks for the information! I think it'll reverse direction before too long and go green some more.