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The Maker price prediction shows that MKR faces the north as the 9-day moving heads to the upside suggesting additional gains.
Maker: Recent Performance and Historical Insights
In the past month, Maker experienced 18 out of 30 (60%) days of positive growth. Based on our analysis of historical data, investing in Maker has proven profitable. Over the last year, Maker’s price surged by an impressive 142.72%. However, over three years, its performance saw a slight decline of -8.97%.
Maker Market Price Statistic:
- Maker price now: $2755.8
- Maker market cap: $2.3 billion
- Maker circulating supply: $923.5 thousand
- Maker total supply: $977.6 thousand
- Maker coin market ranking: #100
MKR/USD Market
Key Levels:
Resistance levels: $3000, $3200, $3400
Support levels: $2200, $2000, $1800
MKR/USD is currently trading around $2755.8 and once it manages to cross above the upper boundary of the channel, the next target could be located at $2800 which is the crucial level for the coin. However, a push from here could send the price straight above the upper boundary of the channel while the daily low could be spotted at the $2400 support level. Meanwhile, if the current level fails to hold strong, the Maker (MKR) could slide toward the lower boundary of the channel.
Maker Price Prediction: Would Maker Spike to the Upside?
The Maker price is now facing the uptrend as the coin remains above the 9-day and 21-day moving averages. Therefore, if the buyers can put more effort and push the market price above the upper boundary of the channel, MKR/USD could hit the resistance levels of $3000, $3200, and $3400 respectively.
On the contrary, a break toward the lower boundary of the channel may bring the coin toward the support levels of $2200, $2000, and $1800. Looking at the daily chart, Maker may continue to follow an upward trend as the 9-day MA crosses above the 21-day MA, suggesting that the coin could trade bullishly.
MKR/BTC Faces the Upside
Against Bitcoin, the Maker price is currently hovering above the 9-day and 21-day moving averages to hit the nearest resistance at 3969 SAT. Meanwhile, unless this resistance effectively holds and the price ends up closing above it, there might not be any reason to expect a long-term bullish reversal.
However, if the bears bring the coin below the moving averages, it could refresh low under 3000 SAT, while a possible bearish continuation may hit the support at 2600 SAT and below. Meanwhile, if the Maker price heads toward the upper boundary of the channel, it could hit the potential resistance at 5000 SAT and above.
“@0xHecate, sharing insights on X (formerly Twitter) with followers, highlights $MKR as a standout altcoin choice. In my opinion, its weekly structure displays a bullish trend. 🎯Consider entering at the current market price (CMP). 🟩I’m content with exiting for a 10% profit. This could be seen as a scalp trade opportunity.”
$MKR is one of the best-looking altcoins right now!
Its weekly structure imo is bullish.
🎯Entry at CMP
🟩Exit with a 10% upside is what I am happy with!
Consider it as a scalp trade.
NFA DYOR pic.twitter.com/rb3EIFGLTF
— Hecate (@0xHecate) March 9, 2024
Maker Alternatives
The Maker price is indicating a potential upward trend, poised to surpass the upper boundary of the channel. However, if the Maker price extends its upward momentum, it might face resistance near the $3000 mark. Despite Maker (MKR) being a reputable and stable cryptocurrency, the newly introduced Bitcoin Minetrix token is making waves during its presale phase, securing an impressive fundraising milestone of nearly $12.2 million. With its innovative cloud mining solution and a remarkably successful presale, Bitcoin Minetrix is swiftly garnering attention and recognition within the cryptocurrency sphere.
BitcoinMinetrix Shatters Expectations: Raises an Unprecedented $10.5 Million!
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Bitcoin Minetrix is making waves in the market as it raises nearly $12.2 million. This significant achievement is a testament to the project’s strength and potential. Don’t miss out on the opportunity to be part of this groundbreaking venture.
You can benefit from Bitcoin Minetrix now.
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- Source: https://insidebitcoins.com/news/maker-price-prediction-for-today-march-11-mkr-technical-analysis
