• The short and medium-term outlook is in the bullish trend.
• Responsible buying may be considered.

MKR/USD Medium-term Trend: Bullish

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

MRKUSD remains in a bullish trend in its medium-term outlook. The bounce of the trendline at $710.00 in the demand area returned the bulls on 20th June. Increased momentum by the bulls pushed the coin up to $780.00 in the supply area before exhaustion on 22nd June.

The supply area at $780.00 was retested during yesterday session as the bulls sustained the pressure on price with the target at the $800.00.

The brief bear control as the market opens today broke the trend line with a drop in the cryptocurrency price to $677.76 in the demand area.

Price is back up at $779.99 in the supply area above the two EMAs, with the bulls mounting strong pressure for upward price movement.

$800.00 in the supply area remains the bulls target in the medium-term.

MKR/USD Short-term Trend: Bullish

The cryptocurrency short-term outlook is a bullish trend. The bears manage to drop the coin to $740.70 in the demand are shortly after today’s opening and lost momentum despite a bearish marubozu an indication of strong sellers presence. Hence this was a correction of the upward movement.

The bulls returned shot the price back up cryptocurrency shorts up to $779.00 in the supply area.

With price above the EMAs and the signal of the stochastic oscillator pointing up at 54%, the bulls may sustain the upward price movement in the short-term.

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