MKR USDT 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-USDT. Maker is a decentralized credit platform that enables users to borrow a variety of assets while leveraging their crypto holdings as collateral. The Maker protocol utilizes smart contracts to facilitate automated liquidations and settlements, providing a secure and efficient lending experience. By harnessing the power of blockchain technology, Maker has created a decentralized financial system that is open to everyone, regardless of their geographical location or credit history.

Maker Price Overview:

As of May 03, 2024, Maker is trading at approximately 2770.0 USDT. Let’s dive into the detailed price action for MKR-USDT:

Explore Maker’s (MKRUSDT) potential challenges at 2770.00 USDT as technical analysis leans bearish, emphasizing weakened support and cautionary indicators.

Metric Value
Open (O) 2765.0
High (H) 2800.0
Low (L) 2696.0
Close (C) 2770.0
Volume (C) 3,339.71
  • Open (O): The opening price for today’s trading session was approximately 2765.0 USDT.
  • High (H): Maker reached a daily high of around 2800.0 USDT.
  • Low (L): The daily low for MKR-USDT was approximately 2696.0 USDT.
  • Close (C): At the time of analysis, Maker is trading near its daily close of 2770.0 USDT.
Metric Value
1D Change (%) 0.18%
3D Change (%) 3.94%
7D Change (%) -3.45%
30D Change (%) -26.97%
90D Change (%) 38.09%
YTD Change (%) 62.94%

Over the past three days, MKRUSDT has increased by approximately 3.94%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -3.45%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with MKRUSDT maintaining a downward trend of approximately -26.97%, despite intermittent fluctuations. Examining the last 90 days, MKRUSDT has witnessed substantial increase of approximately 38.09%, reflecting strong long-term confidence. Year-to-date, MKRUSDT has steadily appreciated by around 62.94%, 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 0.674.
  • Momentum score is -0.05686.

MKR USDT Technical Analysis

Maker Trading Volume:

The trading volume for Maker (MKR) over the past 24 hours has been insignificant, with approximately 3,339.71 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 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-USDT is currently in the neutral zone, around 47.48988. This suggests that Maker is in range-bound territory.

Analysis from TradingView:

Our Key Takeaways:

Maker (MKR-USDT) is currently exhibiting signs of short-term bearish 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 neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.

Explore Maker’s (MKRUSDT) potential challenges at 2770.00 USDT as technical analysis leans bearish, emphasizing weakened support and cautionary indicators.

Take your understanding to the next level with our extensive analysis of MKR BTC Maker Technical Analysis; if you enjoyed this post, you’re in for a treat!

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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