Maker Price Prediction for Today, March 11 – MKR Technical Analysis

adminMarch 12, 2024

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Maker price forecasts show MKR heading north, with gains on the 9th suggesting further upside.

Maker: Recent Performance and Historical Insights

Over the past month, Maker has experienced positive growth 18 out of 30 days (60%). Analysis of historical data shows that investing in Maker has proven to be profitable. Over the past year, Maker’s price has surged a whopping 142.72%. However, performance over the three years decreased slightly to -8.97%.

Maker Market Price Statistics:

Current manufacturer price: $2755.8
Maker Market Cap: $2.3 billion
Maker Circulation Volume: $923.5 thousand
Maker total supply: $977.6 thousand
Maker Coin Market Ranking: 100th

MKR/USD market

Main level:

Resistance levels: $3000, $3200, $3400

Support levels: $2200, $2000, $1800

Maker Price Prediction for Today, March 11 - MKR Technical Analysis — MKRUSD – daily chart

MKR/USD is currently trading around $2755.8 and once it crosses the upper boundary of the channel, the next target could be located at $2800, an important level for the coin. However, a push from here could push the price just above the upper boundary of the channel and a daily low could be found around the $2400 support level. Meanwhile, Maker (MKR) could slide towards the lower boundary of the channel if current levels fail to remain strong.

Maker Price Prediction: Will Maker See an Uptrend?

Maker price is facing an upward trend as the coin remains above its 9-day and 21-day moving averages. Therefore, if buyers can put in more effort and push the market price above the channel upper limit, MKR/USD could reach the resistance levels of $3000, $3200, and $3400 respectively.

Conversely, a breakout towards the lower border of the channel could push the coin towards support levels of $2200, $2000, and $1800. Looking at the daily chart, Maker could continue its upward trend with the 9-day MA crossing over the 21-day MA, suggesting that the coin could be trading bullishly.

MKR/BTC is on the verge of an uptrend

Compared to Bitcoin, Maker price is currently hovering above the 9-day and 21-day moving averages and reaching the nearest resistance at 3969 SAT. On the other hand, there may be no reason to expect a long-term bullish reversal unless this resistance effectively holds and the price closes above it.

However, if the bears take the coin below the moving averages, there could be a refresh lower below 3000 SAT, while a continuation of the bears could hit support below 2600 SAT. Meanwhile, if the maker price heads towards the upper boundary of the channel, it may encounter potential resistance above 5000 SAT.

“@0xHecate shares insights on X (formerly Twitter) with his followers, highlighting $MKR as a standout altcoin choice. In my opinion, the weekly structure is showing a bullish trend. 🎯Consider entering at current market price (CMP). 🟩I am satisfied with leaving with a 10% profit. This can be seen as a scalp trading opportunity.”

$MKR One of the coolest altcoins right now!
The weekly structure is optimistic.
🎯CMP admission
🟩I’m happy with exiting with 10% upside!
Think of it as a scalp trade.
NFA DYOR pic.twitter.com/rb3EIFGLTF
— Hecate (@0xHecate) March 9, 2024

maker alternative

Maker price is trending upward with the potential to exceed the channel cap. However, if maker price extends its upward momentum, it may face resistance near $3,000. Even though Maker (MKR) is a reputable and stable cryptocurrency, the newly introduced Bitcoin Minetrix token made waves during the pre-sale phase, securing an impressive funding milestone of approximately $12.2 million. With its innovative cloud mining solution and incredibly successful pre-sale, Bitcoin Minetrix is quickly gaining attention and recognition in the cryptocurrency space.

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