MAKER - MKR/USD - 1H - Technical analysis published on 04/06/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
61%
6%
33%
My opinion
Bullish above 684.82 USD
My targets
696.76 USD (+0.67%)
710.60 USD (+2.67%)
My analysis
The bullish trend is currently very strong on MAKER - MKR/USD. As long as the price remains above the support at 684.82 USD, you could try to benefit from the boom. The first bullish objective is located at 696.76 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 710.60 USD as an objective. Crossing it would then enable buyers to target 721.80 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
6.8
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The MAKER - MKR/USD rating is 692.09 USD. On the day, this instrument lost -0.10% and was traded between 677.86 USD and 696.06 USD over the period. The price is currently at +2.10% from its lowest and -0.57% from its highest.677.86
696.06
692.09
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
A technical analysis in 1H of this MAKER - MKR/USD chart shows a strongly bullish trend. The signals given by the moving averages are 82.14% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators shows a moderate bullish signal.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near resistance of triangle
Type : Bearish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 661.37 | 667.26 | 684.82 | 692.09 | 696.76 | 710.60 | 721.80 |
| Change (%) | -4.44% | -3.59% | -1.05% | - | +0.67% | +2.67% | +4.29% |
| Change | -30.72 | -24.83 | -7.27 | - | +4.67 | +18.51 | +29.71 |
| Level | Intermediate | Major | Minor | - | Intermediate | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 650.83 | 660.92 | 676.86 | 686.95 | 702.89 | 712.98 | 728.92 |
| Camarilla | 685.63 | 688.02 | 690.40 | 692.79 | 695.18 | 697.56 | 699.95 |
| Woodie | 653.75 | 662.38 | 679.78 | 688.41 | 705.81 | 714.44 | 731.84 |
| Fibonacci | 660.92 | 670.87 | 677.01 | 686.95 | 696.90 | 703.04 | 712.98 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 546.68 | 588.82 | 647.37 | 689.51 | 748.06 | 790.20 | 848.75 |
| Camarilla | 678.23 | 687.46 | 696.69 | 705.92 | 715.15 | 724.38 | 733.61 |
| Woodie | 554.89 | 592.92 | 655.58 | 693.61 | 756.27 | 794.30 | 856.96 |
| Fibonacci | 588.82 | 627.28 | 651.05 | 689.51 | 727.97 | 751.74 | 790.20 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 114.65 | 357.33 | 524.45 | 767.13 | 934.25 | 1,176.93 | 1,344.05 |
| Camarilla | 578.87 | 616.43 | 654.00 | 691.56 | 729.13 | 766.69 | 804.26 |
| Woodie | 76.86 | 338.44 | 486.66 | 748.24 | 896.46 | 1,158.04 | 1,306.26 |
| Fibonacci | 357.33 | 513.88 | 610.59 | 767.13 | 923.68 | 1,020.39 | 1,176.93 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 53.12 | |
| MACD (12,26,9): | 1.3300 | |
| Directional Movement: | -2.37 | |
| AROON (14): | 85.72 | |
| DEMA (21): | 690.49 | |
| Parabolic SAR (0,02-0,02-0,2): | 677.86 | |
| Elder Ray (13): | -0.19 | |
| Super Trend (3,10): | 666.39 | |
| Zig ZAG (10): | 692.00 | |
| VORTEX (21): | 0.9700 | |
| Stochastique (14,3,5): | 75.13 | |
| TEMA (21): | 688.43 | |
| Williams %R (14): | -32.36 | |
| Chande Momentum Oscillator (20): | 3.95 | |
| Repulse (5,40,3): | 2.3400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 0.68 |
| MA7: | 685.91 | |
| MA20: | 681.80 | |
| MA50: | 755.23 | |
| MA100: | 703.10 | |
| MAexp7: | 688.62 | |
| MAexp20: | 688.25 | |
| MAexp50: | 685.42 | |
| MAexp100: | 683.90 | |
| Price / MA7: | +0.90% | |
| Price / MA20: | +1.51% | |
| Price / MA50: | -8.36% | |
| Price / MA100: | -1.57% | |
| Price / MAexp7: | +0.50% | |
| Price / MAexp20: | +0.56% | |
| Price / MAexp50: | +0.97% | |
| Price / MAexp100: | +1.20% |
Quotes :
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Real time data
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This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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