MAKER Price Prediction Today: Daily (MKR) Value Forecast – July 29


  • The short and medium-term outlook is in a downtrend.
  • Responsible selling may be considered at key areas with bearish reversal candles.

MKR/USD Medium-term Trend: Bearish

Supply zones: $800.00, $850.00, $900.00
Demand zones: $300.00, $250.00, $200.00

MRKUSD is in a bearish trend in its medium-term outlook. The rally was limited at 50.0 fib area on 27th July when price was at $541.13 in the supply area. The signal of the stochastic at the overbought region which suggests a strong downward momentum.

The bears returned was announced with a large bearish engulfing. MRKUSD fell to $559.98 in the demand area.

Today’s 4-hour opening candle opened as a doji at $585.64 an indication of bullish rejection which is at the 38.2 fib area, a trend continuation, suggesting the bears to continues the downward price movement.

Price is below the two EMAs at $556.30 and the stochastic oscillator signal points down at 28%. These suggest a downward momentum in price with $525.00 as the initial target and $450.00 in the demand area as the next bears' target.

MKR/USD Short-term Trend: Bearish

The cryptocurrency short-term outlook is a bearish market. The bullish exhaustion at $612.00 in the supply area was confirmed shortly after today’s opening with a large bearish marubozu. The resistance at the two EMAs was broken as the cryptocurrency dropped initially to $559.98 and later to the current price at $556.30 in the demand area.

The journey to $460.00 in the demand area is on but the support at $500.00 a key area must be broken before continuation.

With price below the two EMAs and the signal of the stochastic oscillator pointing down at 38%, the bears may sustain the downward price movement in the short-term.

Live Maker (MKR) Price:

1 MKR/USD =$5,141.9585 change ~ -2.90%

Coin Market Cap

$5.12 Billion

24 Hour Volume

$18.72 Million

24 Hour VWAP

$5.24 K

24 Hour Change

$-149.08

 

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

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide