MAKER - MKR/USD - Daily - Technical analysis published on 05/04/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
44%
22%
33%
My opinion
Bearish under 721.86 USD
My targets
668.82 USD (-4.28%)
587.19 USD (-15.96%)
My analysis
MAKER - MKR/USD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 721.86 USD. The next support located at 668.82 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 587.19 USD. Below this support, sellers could then target 503.16 USD.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
3.9
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The MAKER - MKR/USD price is 698.70 USD. On the day, this instrument gained +1.19% and was between 687.72 USD and 700.32 USD. This implies that the price is at +1.60% from its lowest and at -0.23% from its highest.687.72
700.32
698.70
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by MAKER - MKR/USD:
Technical
Technical analysis of this Daily chart of MAKER - MKR/USD indicates that the overall trend is bearish. The signals given by moving averages are 78.57% bearish. This bearish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 8 are bullish, 6 are neutral and 4 are bearish. Caution: the Central Indicators scanner currently detects an excess:
MACD indicator: bullish divergence
Type : Bullish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : Daily
Williams %R indicator is back over -50
Type : Bullish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near resistance of triangle
Type : Bearish
Timeframe : Daily
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of these bullish patterns in Japanese candlesticks:
Bullish harami
Type : Bullish
Timeframe : Daily
Bullish harami cross
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 503.16 | 587.19 | 668.82 | 698.70 | 721.86 | 800.11 | 946.40 |
| Change (%) | -27.99% | -15.96% | -4.28% | - | +3.31% | +14.51% | +35.45% |
| Change | -195.54 | -111.51 | -29.88 | - | +23.16 | +101.41 | +247.70 |
| Level | Major | Minor | Major | - | Intermediate | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 641.80 | 655.99 | 673.25 | 687.44 | 704.70 | 718.89 | 736.15 |
| Camarilla | 681.85 | 684.73 | 687.62 | 690.50 | 693.38 | 696.27 | 699.15 |
| Woodie | 643.33 | 656.76 | 674.78 | 688.21 | 706.23 | 719.66 | 737.68 |
| Fibonacci | 655.99 | 668.01 | 675.43 | 687.44 | 699.46 | 706.88 | 718.89 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 577.92 | 613.55 | 654.71 | 690.34 | 731.50 | 767.13 | 808.29 |
| Camarilla | 674.74 | 681.78 | 688.82 | 695.86 | 702.90 | 709.94 | 716.98 |
| Woodie | 580.68 | 614.93 | 657.47 | 691.72 | 734.26 | 768.51 | 811.05 |
| Fibonacci | 613.55 | 642.89 | 661.01 | 690.34 | 719.68 | 737.80 | 767.13 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 452.08 | 550.64 | 621.25 | 719.81 | 790.42 | 888.98 | 959.59 |
| Camarilla | 645.35 | 660.86 | 676.36 | 691.87 | 707.38 | 722.89 | 738.39 |
| Woodie | 438.12 | 543.65 | 607.29 | 712.82 | 776.46 | 881.99 | 945.63 |
| Fibonacci | 550.64 | 615.26 | 655.18 | 719.81 | 784.43 | 824.35 | 888.98 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 47.85 | |
| MACD (12,26,9): | -7.8800 | |
| Directional Movement: | -2.15 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 693.86 | |
| Parabolic SAR (0,02-0,02-0,2): | 651.82 | |
| Elder Ray (13): | -1.84 | |
| Super Trend (3,10): | 802.09 | |
| Zig ZAG (10): | 698.73 | |
| VORTEX (21): | 0.9800 | |
| Stochastique (14,3,5): | 46.17 | |
| TEMA (21): | 689.02 | |
| Williams %R (14): | -46.87 | |
| Chande Momentum Oscillator (20): | -3.06 | |
| Repulse (5,40,3): | 2.2600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1400 | |
| Courbe Coppock: | 10.99 |
| MA7: | 693.48 | |
| MA20: | 716.84 | |
| MA50: | 702.80 | |
| MA100: | 732.59 | |
| MAexp7: | 693.92 | |
| MAexp20: | 703.62 | |
| MAexp50: | 714.93 | |
| MAexp100: | 717.55 | |
| Price / MA7: | +0.75% | |
| Price / MA20: | -2.53% | |
| Price / MA50: | -0.58% | |
| Price / MA100: | -4.63% | |
| Price / MAexp7: | +0.69% | |
| Price / MAexp20: | -0.70% | |
| Price / MAexp50: | -2.27% | |
| Price / MAexp100: | -2.63% |
Quotes :
-
Real time data
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Cryptocompare
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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