Maker (MKR) Price Action Attains a Good Position for Further Upside Corrections

Azeez Mustapha

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Maker prices have increased by 11.66% today, and it appears that this market may still record more price increases. This inference is based on the price behavior in this market, which appears bullish.

 

MKR Statistics
Maker Value Now: $984
MKR Market Cap: $957,912,674
Maker Circulating Supply: 977,631
MKR Total Supply: 977,631
Maker CoinMarketCap Ranking: 43

 

Major Price Levels:
Top: $984, $1,100, and $1,200
Base: $900, $850, and $800

Maker (MKR) Price Action: Is Position Ready for More Upside Moves

Maker Bulls Are Explosive

 

The price behavior on the Maker daily market chart, reveals that significant buying is going on in this market. Consequently, this has led to massive price increases, yet price action looks ready for more.

 

The last price candle is a long green one. Furthermore, it has pushed prices through the resistance at the $965 mark. Likewise, this has placed the current price of this token above the 9- and 21-day Moving Average curves.

 

Meanwhile, the Relative Strength Index (RSI) curves have just performed a bullish crossover deep in the oversold region. Consequently, all signs here seem to indicate that the upside movement is still young and more may be expected.

Maker (MKR) Price Action: Is Position Ready for More Upside Moves

MKRUSDT Buyers Are Striving to Maintain Positivity

 

The MKR/USDT 4-hour market is showing how resilient buyers are in this market. The upside price move hasn’t gone unnoticed by dip buyers, as some took the chance to rake in some profits. Nevertheless, it appears that buying activities are still ongoing, as a green price candle appeared following the previous bearish one.

 

The speed at which the buyer reclaimed, the control of price action is indicative of the fact that buyers are plentiful in this market. Also, price action remains above the MA lines, even though the RSI is at the initial stages of a bearish crossover.

 

This implies that the crossover may be aborted depending on the strength of the buyer, and prices may rise towards the $1,050 mark.

 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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