Maker (MKR) technical analysis:
Trade setup: A rare asset that has remained in an Uptrend throughout the recent market downturn, which indicates consistent demand from buyers. Now price is approaching $1,350 resistance, where it got rejected in August. We prefer to wait for price to either 1) break above $1,350 to signal continuation of Uptrend, or 2) pull to $1,000-$1,100 support area, which could be an attractive swing entry in Uptrend. Maker is a well established DeFi platform with real users and revenues , which forms a solid foundation for investors looking to trade it.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $1,000 – $1,100 (previous resistance), then $800. The nearest Resistance Zone is $1,350.
Trade setup: A rare asset that has remained in an Uptrend throughout the recent market downturn, which indicates consistent demand from buyers. Now price is approaching $1,350 resistance, where it got rejected in August. We prefer to wait for price to either 1) break above $1,350 to signal continuation of Uptrend, or 2) pull to $1,000-$1,100 support area, which could be an attractive swing entry in Uptrend. Maker is a well established DeFi platform with real users and revenues , which forms a solid foundation for investors looking to trade it.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $1,000 – $1,100 (previous resistance), then $800. The nearest Resistance Zone is $1,350.