• MKR/USD market still maintains its ups and downs within the same last range spots.
• The pair may begin to experience a chain of choppy price movements around the $800 and its 14-day SMA indicator afterward.

MKR/USD Long-term Trend – Ranging

• Distribution territories: $900, $1000, $1100
• Accumulation territories: $500, $400, $300

The MKR/USD market still continues to move within the range zones that it maintained in the last couple of weeks. Between June 19 and 20, the market bottomed on the lower range horizontal line at $700. On the following day, the pair slightly pushed northward in the range zones to average the upper range at $800 mark.

The 14-day SMA now trends within the range spots toward the east over the 50-day SMA indicator which is located under the lower range mark. The Stochastic Oscillators have crossed hairs, and point to the north. That indicates the possibility of seeing more ups in the market very soon.

Indication still shows that the crypto-market will be driven past its current upper range point at $800 mark to possibly test the previous high value at $900 as it did on April 2. Whilst that assumption plays out accordingly, the pair may begin to experience a chain of choppy price movements around the $800 and its 14-day SMA indicator.

Maker:

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.