MKR BTC Maker Technical Analysis

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By Frans van Elst

Maker logo In this Maker technical analysis, we will examine the current price action, trading volume, key levels and indicators for MKR-BTC. Maker is a decentralized credit platform that enables users to borrow a variety of assets using their MKR tokens as collateral. The platform’s smart contract system ensures that loans are settled in a trustless and automated manner, without the need for intermediaries. With its innovative approach to lending and borrowing, Maker is poised to revolutionize the way we think about credit and financial services.

Maker Price Overview:

As of May 24, 2024, Maker is trading at approximately 0.04046 BTC. Let’s dive into the detailed price action for MKR-BTC:

Explore Maker’s (MKRBTC) potential challenges at 4.05e-02 BTC as technical analysis leans bearish, emphasizing weakened support and cautionary indicators.

Metric Value
Open (O) 0.04164
High (H) 0.04218
Low (L) 0.04046
Close (C) 0.04046
Volume (C) 47.78
  • Open (O): The opening price for today’s trading session was approximately 0.04164 BTC.
  • High (H): Maker reached a daily high of around 0.04218 BTC.
  • Low (L): The daily low for MKR-BTC was approximately 0.04046 BTC.
  • Close (C): At the time of analysis, Maker is trading near its daily close of 0.04046 BTC.
Metric Value
1D Change (%) -2.95%
3D Change (%) -7.18%
7D Change (%) -2.58%
30D Change (%) -9.55%
90D Change (%) 2.12%
YTD Change (%) 0.72%

Over the past three days, MKRBTC has dropped by approximately -7.18%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -2.58%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with MKRBTC maintaining a downward trend of approximately -9.55%, despite intermittent fluctuations. Examining the last 90 days, MKRBTC has witnessed substantial increase of approximately 2.12%, reflecting strong long-term confidence. Year-to-date, MKRBTC has steadily increased by around 0.72%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

Maker Live Chart:

You can access a live price chart for MKR-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 0.39475.
  • Momentum score is -0.14043.

MKR BTC Technical Analysis

Maker Trading Volume:

The trading volume for Maker (MKR) over the past 24 hours has been insignificant, with approximately 47.78 BTC traded against MKR. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): MKR is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): Maker is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for MKR-BTC is currently in the low zone, around 44.39688. This suggests that Maker is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

Maker (MKR-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.

Explore Maker’s (MKRBTC) potential challenges at 4.05e-02 BTC as technical analysis leans bearish, emphasizing weakened support and cautionary indicators.

For a deeper dive into the subject, don’t miss our comprehensive analysis on MKR USDT Maker Technical Analysis if you found this post intriguing.

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.

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