• On the upside, if the bulls break the $780 overhead resistance, the crypto’s price will rise to reach the previous highs.
• The MR/USDK pair is trading below the $780 overhead resistance.

MKR /USD Medium-term Trend: Ranging

• Resistance Levels: $700, $720, $740
• Support Levels: $680, $660, $640

The MKR/USD pair is trading below the $780 overhead resistance. The 12-day EMA and the 26-day EMA are sloping horizontally below the overhead resistance level. Yesterday, July 10, the price of Maker tested the overhead resistance. The bulls were resisted as the price fell to a low at $696 to commence another bullish trend.

Each time the bulls tested the overhead resistance, the price would fall below the EMAs. This had been the scenario. On the upside, if the bulls break the $780 overhead resistance, the crypto’s price will rise to reach the previous highs. Meanwhile, the MKR price is in the overbought region of the daily stochastic but below 60% range. This indicates that price is a bearish momentum and a sell signal.

MKR/USD Short-term Trend: Ranging

On the 1-hour chart, the price of MKR is in a sideways trend. The 12-day EMA and the 26-day EMA are sloping horizontally. On July 9, the Coin reached a high of $796 but the bulls were resisted as the price fell to a low at $627.

On June 26, the bulls tested the $800 price level and the price fell below the EMAs. Meanwhile, the stochastic has reached the overbought region but above the 60% range. This indicates that price is in a bullish momentum and a buy signal.

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