MKR/USD Resumes Upward as Price Hits $885 High

During the European session today, the Maker price prediction begins a progressive movement as the price increases above the moving averages.

Maker Prediction Statistics Data:

• Maker price now – $879
• Maker market cap – $848 million
• Maker circulating supply – 977.6 thousand
• Maker total supply – 977.6 thousand
• Maker Coinmarketcap ranking – #52

MKR/USD Market

Key Levels:

Resistance levels: $1100, $1200, $1300

Support levels: $540, $440, $340

MKR/USD spikes above the 9-day moving average as the coin moves to cross above the 21-day moving average. However, the $660 support level is the critical support where the price touched today. Meanwhile, the Maker price has earlier trades around this level before making an upward movement and this makes the support level a strong support zone.

Maker Price Prediction: Can Maker Move to the Upside?

The Maker price is likely to gain more if the bulls could defend the resistance level of $850 level; the coin may continue its upward movement by breaking above the 21-day moving average after keeping the price above the 9-day moving average. Therefore, any further bullish movement may take the coin to the potential resistance levels of $1100, $1200, and $1300.

However, as revealed by the daily chart, the current prediction may be invalidated should the bears bring the coin below the $700 level, and the Maker price may fall to the low of $540, $440, and $340 support levels. More so, the technical indicator Relative Strength Index (14) is moving to cross above the 50-level; suggesting more bullish movements.

Against Bitcoin, the Maker price is currently trading above the 9-day and 21-day moving averages. However, the red line of the 9-day moving average may likely make a bullish cross above the green line of the 21-day moving average which could allow the coin to touch the nearest resistance of 5500 SAT.

Therefore, if the buyers could push the price above the mentioned resistance, higher resistance could be located at 6000 and above. Moreover, should the bulls fail to move the coin upward, the nearest support level could be located at 3500 SAT and below. More so, the technical indicator Relative Strength Index (14) crosses above the 60-level, which indicates that buyers may begin to dominate the market.

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