MKR/USD Nears Crucial $800 Level

The Maker price prediction shows that MKR faces the north as the technical indicator Relative Strength Index (14) moves to the upside.

Maker Market Price Statistic:

• Maker price now: $765
• Maker market cap: $747.3 million
• Maker circulating supply: $977.6 million
• Maker total supply: $977 thousand
• Maker coin market ranking: #62

MKR/USD Market

Key Levels:

Resistance levels: $900, $950, $1000

Support levels: $550, $500, $450

MKR/USD is currently trading around $765 and once it manages to stay above the 9-day and 21-day moving averages, the next target could be located at $800 which is the crucial level for the coin. However, a push from here could send the price straight above the upper boundary of the channel while the daily low could be spotted at the $650 support level. Meanwhile, if the current level fails to hold strong, the Maker (MKR) could slip toward the lower boundary of the channel.

Maker Price Prediction: Would Maker Spike to the Upside?

The Maker price is now facing the uptrend as the coin remains above the 9-day and 21-day moving averages. Therefore, if the buyers can put more effort and push the market price above the upper boundary of the channel, MKR/USD could hit the resistance levels of $900, $950, and $1000 respectively.

On the contrary, a break below the lower boundary of the channel may bring the coin toward the critical supports at $550, $500, and $450. Looking at the technical indicator Relative Strength Index (14), Maker may begin to follow an upward trend as the signal line moves to cross above the 60-level, suggesting that the coin may trade bullishly.

When compares with Bitcoin, the Maker price is currently above the 9-day and 21-day moving averages to hit the nearest resistance at 4000 SAT. Meanwhile, unless this resistance effectively holds and the price ends up closing above it, there might not be any reason to expect a long-term bullish reversal.

However, if the bears bring the coin toward the lower boundary of the channel, it could refresh low under 3000 SAT, while a possible bearish continuation may hit the support at 2600 SAT and below. Meanwhile, if the Maker price crosses above the upper boundary of the channel, it could hit the potential resistance at 4200 SAT and above. The technical indicator Relative Strength Index (14) also confirms the bullish movement as the signal line moves to cross above the 70-level.

Maker Alternatives

The Maker (MKR) price is likely to gain more if the bulls could increase the buying pressure; the coin may continue its upward movement by breaking above the upper boundary of the channel. However,  the Meta Masters Guild presale is at the moment selling fast and the price is still very cheap. The token has now raised more than $4.5 million for the future development of the platform.