MAKER Price Prediction: Long-term (MKR) Value Forecast – July 28
- MKR/USD has featured in a ranging formation barely over a week back around $500 and %600 price points.
- In the long run of this crypto-trade, breakout or downward break is bound to emerge.
MKR/USD Long-term Trend – Ranging
- Distribution territories: $800, $900, $1000
- Accumulation territories: $500, $400, $300
The market’s trend of MKR/USD has featured in a ranging formation barely over a week back. The US dollar got the crypto overwhelmed until the July 16 when a bearish candlestick occurred and moved past a low mark at $500, but the fiat currency couldn’t press further after a while. Hence the reason for the current choppy price movements of the market operations between the $500 and $600 points.
The 14-day SMA indicator has dabbled into the choppy trading zones of the market as the 50-day SMA is a bit below $700 mark above the smaller SMA trading indicator. The Stochastic Oscillators have wittingly moved up to close the hairs at range 60.
The $600 price territory seems to define this crypto’s direction in terms of whether the bulls to take control of the trade or the bears to resume the last downward moves if the $500 lower range point is broken downward afterward. Traders are enjoined to be wary of fake breakdown at the lower end as well as a false breakout at the upper end of price range zones.
Live Maker (MKR) Price:
1 MKR/USD =$5,230.6081 change ~ -3.78%
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