Maker (MKR) Surpasses a Five-Month High

Price action in the MRK/USDT market has exceeded its previous five-month high around the $950 mark. This happened after the token experienced a price increase of 8.63% to advance its upside ambition.

 

MKR Statistics
Maker Value Now: $985
Maker Market Cap: $968,509,806
MKR Circulating Supply: 977,631
Maker Total Supply: 977,631
Maker CoinMarketCap Ranking: 44

 

Major Price Levels:
Top: $985, $1000, and $1,100
Base: $950, $900, and $850

 MKR/USDT Now Eyes the Resistance Price Mark $1,000

 

Price action in the MKR/USDT daily market has convincingly resumed its upside path, going by the magnitude of the price increase it has experienced. Consequently, price action in this market now eyes the $1,000 resistance.

 

The wick of the last price candle on this chart seems to be testing the $1,000 resistance already. Simultaneously, the 9- and 21-day Moving Average curves seem to have come closer to each other than before.

 

This suggests that more bullish momentum may be delivered to price action in this market should a crossover eventually occur. The lines of the Relative Strength Index (RSI) are also rising upwards, which is revealing that upside momentum is rising in this market.

Maker Price Appears Ready to Cross the $1,000 Mark

 

Moving on, the MKR/USDT 4-hour market shows that buyers have had their noses on the $1,000 mark for the past 12 hours. This can be seen as the wick of price candles for the past two trading sessions has been in contact with the $1,000 price mark.

 

As of now, it’s looking likely that price action may receive the momentum needed to break this level. This inference comes from the behavior of the MA lines as they continue to approach each other for a crossover.

 

Also, the RSI curves have now entered the overbought region but seem to be narrowing up too, but remain generally oriented upwards. Therefore, traders can hope for the retracement to extend toward the $1,050 mark.

 

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