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MKR : With a potential 50%-500% profit possibility for midterrm.Conclusion : - Maker ( MKR ) increased by 100% in the last 30 days. - Technical factors suggest that MKR could increase in the coming days. - Maker’s recent growth could be attributed to the poor performance of UST as well as ETH whalers that have pushed the price of MKR upward. - MKR could aim for $1,500 in the coming weeks, and further for $5000 in the months coming after, other things equal. If you do agree with this particular idea please don't forget to show your appriciation by dropping your likes. If you disagree with any of the issues raised in here please do consider to drop your comments and lets share ideas and lets learn from each other. With regards. Nathnael B.
Long
by cryptotalk_et
2
MKR : With a potential 50%-500% profit possibility for midterrm.Throughout 2022, Maker (MKR) has been in a downtrend, which is to be expected given that the whole crypto market has been bearish. The price of MKR has declined by around 80% since the beginning of the year. The price of MKR went as low as $570 in September of this year, the lowest in almost two years for Maker. Nonetheless, after finding support in that area, MKR has been in a correction. More recently, the price of MKR has increased by around 100%, making Maker one of the best performers in the market for the last 30 days. Buyer sentiment has improved significantly as traders are hopeful that this momentum may continue in the coming days/weeks. Here is a full list of some of the best performers of this in the market: Top 7 Day Gains | CoinMarketCap 🚀 🥇 Huobi Token $HT +76% 🥈 TerraClassicUSD $USTC +73.5% 🥉 Quant $QNT +16.7% 4. Ethereum Name Service $ENS +14% 5. Hedera $HBAR +13.2% 6. Maker $MKR +9.7% 7. Terra $LUNA +8.1% But before we estimate how the price of MKR can move, we have gone through both the fundamental and technical factors of Maker. When we come to the Technical Analysis part Maker has been on the rise in the 1-day chart. The price of Maker, however, failed to break resistance at around $1170, which coincides with the previous swing high of MKR. When looking at the 1-day chart, we could notice a possible rounding bottom pattern. Moreover, given the recent retracement of 23.6% at around 1032 USDT, we could see a potential cup-and-handle pattern form, which could be an indicator of a potential breakout in the coming weeks. The Fibonacci retracement levels suggest that the price of MKR has retraced to the 50% level at 882 USDT to be precise. While this level is not widely recognized as a Fibonacci level, many analysts take the 50% level as a legit level that the price can retrace. With buying pressure still high, MKR could use this support at $876 and aim for a higher price. We could see MKR retest resistance in the coming days, other things considered equal. Indicators The fear and greed index suggests that there is relatively less fear for MKR traders due to the recent increase in the price. The recent retracement has kept the fear factor quite eminent, but the overall sentiment has improved for Maker adherents. Both the 20-MA and 50-MA of a 1-day chart is currently below the price of MKR, suggesting that the short-term trend is now bullish. The same applies to the 9-EMA of a 1-day chart. The EMA line could momentarily act as support to the price if the latter attempts to decline further. The RSI of a 1-day chart was recently above 70, making MKR overbought. Hence, traders expected the recent retracement. Nonetheless, now the price is slightly below 70, meaning that the momentum remains bullish and that MKR could have more space for growth in the coming days. The MACD line of a 1-day chart is above the signal line and above the baseline, meaning that the momentum is quite bullish for Maker (MKR). However, the lines are currently converging due to the recent retracement, meaning that the momentum may shift easily in the coming days. Regarding the fundamental Analysis points there are various reasons why Maker has been performing well recently. One reason could be that its main competitor is not performing well. As you may or may not know, Maker fuels the production of DAI tokens, which is a direct rival to UST and LUNA. Since UST is failing to re-peg to USD, making DAI ultimately the better deal out of the two. According to experts, another reason for Maker’s recent increase in price is the increased support by institutional whalers. Statistics show that top ETH whalers alone hold millions worth of dollars of MKR tokens. More precisely, the top 500 ETH whales currently hold around $50 million worth of MKR tokens. More recently, MakerDAO has devoted to investing $500 million in US treasuries and bonds to hedge the risk from this bear market by diversifying the balance sheet of the project. Since Maker is a decentralized autonomous organization (DAO), the decision was done through the decentralized governance that Maker has. Such measures were perceived as necessary by many given the scandal that occurred with Terra (LUNA) and the UST stablecoin a few months ago. So What is MKR's Price Prediction look like then? Based on this analysis of Maker (MKR), we could expect the price of MKR to increase in the coming days given that it found support at $880. The price of MKR could retest resistance in the coming days, and it could aim for around $1,500 in the coming weeks. As for the longer run, MKR has recently hit the lowest point in almost two years. Because of that, traders could now argue that MKR has all the space it needs for growing in the coming months. The project in itself is quite promising, and with more institutional backing, we could see MKR for $5,000 in the coming months, ceteris paribus. Conclusion : - Maker (MKR) increased by 100% in the last 30 days. - Technical factors suggest that MKR could increase in the coming days. - Maker’s recent growth could be attributed to the poor performance of UST as well as ETH whalers that have pushed the price of MKR upward. - MKR could aim for $1,500 in the coming weeks, and further for $5000 in the months coming after, other things equal. If you do agree with this particular idea please don't forget to show your appriciation by dropping your likes. If you disagree with any of the issues raised in here please do consider to drop your comments and lets share ideas and lets learn from each other. With regards. Nathnael B.
Long
by cryptotalk_et
MKR : THE CYCLE COIN MKR is one of the cycle coins that did try to increase before with a trend pump above the 1150 : after that we had a small recovery trend. Main view for MKR looks still positive. We will follow coming time MKR and we will see or MKR can increase over the before high target. if MKR going depending on cycle plan it can have a high target soon. MKR are now on important support zone : where the possibility is that MKR will show on coming time frame a breakout trend.
Long
by Goldenbreakout
Maker possible scenariosour previous Analyze on Maker goes wrong. it happens usually in market, any way we are under dynamic resistance in daily and as you can see there is a pivot area in daily if the price could cross dynamic resistance and pivot, after a pullback to 800 we can get a long position(scenario 1), but I think we are still in a downtrend and Red line on the chart is more valid because Rsi is in overbought and also BTC should break down and will take everything down with itself, better to wait and watch exactly...
by Lamassu_Trade
1
MKRUSDT Rejected on the 1D MA200. Bearish unless this breaks.*** *** For this particular analysis on Maker we are using the MKRUSDT symbol on the OKX exchange. *** *** The idea is on the 1D time-frame where MKR is shown trading on its long-term bearish pattern which is a Channel Down (1) since August 23 2021 High. There is also a diverging Channel Down (2) that started on November 26 2021. Maker's impressive rise yesterday stopped just below the top of that Channel Down and even more so on its 1D MA200 (orange trend-line), which has been a major Resistance throughout this bearish trend. As you see, the last two emphatic rejections for MKRUSDT have been on exactly on the 1D MA200 (April 05 and May 11 2022) and both resulted into strong sell-offs below the 1D MA50 (blue trend-line). With the 1D RSI rejected also on the 80.000 vastly overbought level (the highest RSI reading since April 22 2021), it is quite likely that the price will follow a similar selling sequence, on the short-term at least, towards the 1D MA50 or even the 4-month Support Zone (651.00 - 583.00). Yesterday's rejection simply shows that technically, the coin remains bearish on its +1 year selling pattern. In order to see a reversal on its long-term trend to bullish, we need to see the candle closing above the 1W MA50 (red trend-line), which has been unbroken since December 09 2021. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
10