In this Maker technical analysis, we will examine the current price action, trading volume, key levels and indicators for MKR-USDT. Sure, here are three sentences about Maker (MKR) cryptocurrency: Maker (MKR) is a decentralized platform that enables users to create and manage decentralized applications (dApps) on the Ethereum blockchain. The Maker protocol utilizes a two-token system, consisting of the Maker token (MKR) and the Multi-Collateral Dai (DAI), which allows users to generate stablecoins collateralized by a variety of assets. By leveraging this innovative technology, developers can build and deploy dApps with greater flexibility and security, while users can enjoy more diverse and reliable financial services within the Maker ecosystem.
Maker Price Overview:
As of October 03, 2023, Maker is trading at approximately 1431.0 USDT. Let’s dive into the detailed price action for MKR-USDT:
| Metric | Value |
|---|---|
| Open (O) | 1450.0 |
| High (H) | 1485.0 |
| Low (L) | 1417.0 |
| Close (C) | 1431.0 |
| Volume (C) | 6,173.38 |
- Open (O): The opening price for today’s trading session was approximately 1450.0 USDT.
- High (H): Maker reached a daily high of around 1485.0 USDT.
- Low (L): The daily low for MKR-USDT was approximately 1417.0 USDT.
- Close (C): At the time of analysis, Maker is trading near its daily close of 1431.0 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.31% |
| 3D Change (%) | -6.65% |
| 7D Change (%) | 0.21% |
| 30D Change (%) | 26.64% |
| 90D Change (%) | 56.05% |
| YTD Change (%) | 180.04% |
Over the past three days, MKRUSDT has fallen by approximately -6.65%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 0.21%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with MKRUSDT maintaining an upward trend of approximately 26.64%, despite intermittent fluctuations. Examining the last 90 days, MKRUSDT has witnessed substantial rise of approximately 56.05%, reflecting strong long-term confidence. Year-to-date, MKRUSDT has steadily increased by around 180.04%, 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-USDT 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 0.55244.
- Momentum score is 0.26637.
MKR USDT Technical Analysis
Maker Trading Volume:
The trading volume for Maker (MKR) over the past 24 hours has been insignificant, with approximately 6,173.38 USDT 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 above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): Maker is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for MKR-USDT is currently in the high zone, around 60.12306. This suggests that Maker is in bullish territory.
Analysis from TradingView:
Our Key Takeaways:
Maker (MKR-USDT) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the high RSI and insignificant trading volume are high signals for potential upward movement.
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.
