Maker (MKR) Is Breaking New Price Resistance Level 

As the Maker price increased by 3.94% on the day, price action in this market has just broken through a new resistance price mark. More upside retracement seems likely, as signs emerging from technical indicators suggest that more upside retracement may yet be experienced in this market.

MKR Statistics
MKR Value Now: $700.10
Maker Market Cap: $701M
Maker Circulating Supply: $5,689,157,827
MKR Total Supply: 977,631.04
Maker CoinMarketCap Ranking: 54

Major Price Levels:
Top: $700.10, $720.50, and $741.00
Base: $680.00, $650.50, and $630.40

Maker Price Set to Approach Higher Price Mark

The behavior of price movements in the MKR/USD suggests that this token price may have a higher potential for retracing higher price levels. The ongoing session has seen a significant price increase of 3.93%. The last price candle here can be seen as green and appears significantly larger than any of the recently seen price candles. Additionally, this price candlestick can be seen poking through the 61.80 Fibonacci Retracement level to bring the price to $700.10. It could also be seen that the 9- and 21-day Moving Average curves have just delivered a bullish crossover above price activity on this chart. Furthermore, the lines of the Moving Average Convergence Divergence (MACD) indicator have just crossed above the equilibrium level, while its bars are growing green and taller. This effectively communicates that upside momentum is strong in this market and may keep pushing prices upward.

Maker (MKR) Bulls Stay Strong

Extending the scope of this analysis to a Maker 4-hour market, it is revealed that another session has begun in favor of long traders. This can be perceived by the appearance of a green price candlestick that has just appeared for the new trading session. Also, the MACD lines have risen high above the equilibrium level at 12.26 and 10.59 (leading to lagging lines), while the histogram bars of the indicator keep growing taller and solid green. In addition, it should be noted that all the trading activities are occurring above the 9- and 21-day MA lines. All the observed signs from this market suggest that a considerably strong bullish trend is on and may push prices to the 730 price mark.

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