• MKR/USD market appears not being in a hurry to lose out in strength may only possibly go down to test a low mark around the $700 price territory.
• If a at $680 of the crypto-market is forcefully broken down, that could spell a free-fall afterward.

MKR/USD Medium-term Trend: Bullish

• Distribution territories: $850, $900, $950
• Accumulation territories: $600, $550, $500

MAKER price worth has been on a slight increase in the crypto-market as paired with the US dollar. Recently, the pair was moving in a range mostly characterized by a series of small ups than small downs over the buy signal line of the 50-day SMA.

The SMA indicator is now located a bit below $700 mark as the Bollinger Lower Band is closely located underneath it. The Stochastic Oscillators now slightly point to range 50 from the top.

The pair appears not being in a hurry to lose out in strength may only possibly go down to test a low mark around the $700 price territory prior to regaining the momentum to the north. At that market point, it’s unexpected that the market’s bears will take advantage of the trade while price reaches it.

MKR/USD Short-term Trend: Ranging

As at the time of writing, the MKR/USD market hasn’t seen much active trading activities today. The crypto-market in its present short-term run has been fluctuating around $760 and $720 price territories.

Yesterday’s trend of the market ended up in a relatively bullish outlook. The Bollinger Bands and the 50-day SMA indicator are yet pointing to the north. The Stochastic Oscillators are consolidating a bit below range 80.

Indicatively, the MKR/USD market still seems to be under the control of the bulls. However, there is a point at $680 of the crypto-market that its forceful breakdown could spell a free-fall afterward.

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.