MKR: Pullback in Uptrend
Maker (MKR) technical analysis:
Trade setup: Trends have reversed to uptrend and price spiked up as high as $1,350, making a new Higher High (sign of Uptrend). However, it got overbought (RSI > 70) there and pulled back to $1,000-$1,100 support area, which could be an attractive swing entry in Uptrend. Upside potential back to $1,350. Maker is a well established DeFi platform with real users and revenues, which forms a solid foundation for investors looking to trade it.
Trend: Neutral on Medium-Term basis and Uptrend on Short- and Long-Term basis.
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral).
Support and Resistance: Nearest Support Zone is $1,000 – $1,100 (previous resistance), then $800, and $600 – $700. The nearest Resistance Zone is $1,350.
Trade setup: Trends have reversed to uptrend and price spiked up as high as $1,350, making a new Higher High (sign of Uptrend). However, it got overbought (RSI > 70) there and pulled back to $1,000-$1,100 support area, which could be an attractive swing entry in Uptrend. Upside potential back to $1,350. Maker is a well established DeFi platform with real users and revenues, which forms a solid foundation for investors looking to trade it.
Trend: Neutral on Medium-Term basis and Uptrend on Short- and Long-Term basis.
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral).
Support and Resistance: Nearest Support Zone is $1,000 – $1,100 (previous resistance), then $800, and $600 – $700. The nearest Resistance Zone is $1,350.
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