Maker Price Prediction for Today, January 7 – MKR Technical Analysis

Maker price forecast predicts the price to rise 0.18% over the last 24 hours of trading as the cryptocurrency reaches the $1778.9 resistance level.

Maker forecast statistical data:

• Current manufacturer price – $1739.5
• Maker Market Cap – $1.6 billion
• Maker distribution quantity – 920,000
• Maker total supply – 977.6 thousand
• Maker CoinMarketCap Ranking – 91st

MKR/USD market

Main level:

Resistance levels: $2100, $2200, $2300

Support levels: $1400, $1300, $1200

MKR/USD could surge to the upside as the price of the coin rose 0.18% after reaching a daily low of $1669. The red line of the 9-day moving average remains above the green line of the 21-day moving average, so maker prices may show an upward trend. At the time of writing, the movement is turning bullish again, but a bearish move below the 9-day moving average could push the price down to the support at $1600.

Maker Price Prediction: Maker (MKR) prepares for a surge above the $1800 level

If buyers keep the price above the 9-day and 21-day moving averages, the maker price may need to rise above $1800. Conversely, if sellers take the market movement lower, traders may think the market is bearish.

However, looking to the upside, the first resistance level is at $1750, with potential resistance levels at $2100, $2200, and $2300. Moreover, if sellers bring the price to the lower limit of the channel, traders expect support to be located at $1400, $1300, and $1200, with the 9-day MA remaining above the 21-day MA, which could provide a more bullish signal.

MKR/BTC could be headed to the upside

Compared to Bitcoin, Maker price is hovering above the 9- and 21-day moving averages as the coin moves towards the upper boundary of the channel. From the above, if the bulls increase their buying pressure, the nearest resistance level is likely to hit 4500 SAT. Higher resistance could be located above 5000 SAT.

On the other hand, if selling pressure hits a new low and crosses below the 21-day moving average, lower support could be found below 3000 SAT. Meanwhile, the 9-day moving average continues to hover above the 21-day moving average, showing that the market is preparing for an uptrend.

Alternative to Maker

Daily chart analysis shows that if Maker price continues to be above the 9-day and 21-day moving averages, it is likely to break above the channel upper limit. Also, looking at the daily chart, if the 9-day moving average remains above the 21-day moving average, it indicates a bullish market situation.

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