MAKER - MKR/USD - 1H - Technical analysis published on 07/16/2023 (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
89%
0%
11%
My opinion
Bullish above 946.40 USD
My targets
989.55 USD (+0.67%)
1,030.40 USD (+4.83%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on MAKER - MKR/USD as long as the price remains well above 946.40 USD. The buyers' bullish objective is set at 989.55 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1,030.40 USD. If there is any crossing, the next objective would be the resistance located at 2,220.80 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.2
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Additional analysis
Quotes
The MAKER - MKR/USD rating is 982.93 USD. The price has increased by +10.35% since the last closing and was traded between 887.88 USD and 984.25 USD over the period. The price is currently at +10.71% from its lowest and -0.13% from its highest.887.88
984.25
982.93
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
A technical analysis in 1H of this MAKER - MKR/USD chart shows a strongly bullish trend. 85.71% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
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:
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 847.05 | 904.49 | 946.40 | 982.93 | 989.55 | 1,030.40 | 2,220.80 |
| Change (%) | -13.82% | -7.98% | -3.72% | - | +0.67% | +4.83% | +125.94% |
| Change | -135.88 | -78.44 | -36.53 | - | +6.62 | +47.47 | +1,237.87 |
| Level | Intermediate | Intermediate | Major | - | Intermediate | Minor | Minor |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 827.92 | 840.69 | 865.72 | 878.49 | 903.52 | 916.29 | 941.32 |
| Camarilla | 880.36 | 883.82 | 887.29 | 890.75 | 894.22 | 897.68 | 901.15 |
| Woodie | 834.05 | 843.76 | 871.85 | 881.56 | 909.65 | 919.36 | 947.45 |
| Fibonacci | 840.69 | 855.13 | 864.05 | 878.49 | 892.93 | 901.85 | 916.29 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 685.76 | 766.40 | 828.58 | 909.22 | 971.40 | 1,052.04 | 1,114.22 |
| Camarilla | 851.48 | 864.57 | 877.66 | 890.75 | 903.84 | 916.93 | 930.03 |
| Woodie | 676.52 | 761.79 | 819.34 | 904.61 | 962.16 | 1,047.43 | 1,104.98 |
| Fibonacci | 766.40 | 820.96 | 854.67 | 909.22 | 963.78 | 997.49 | 1,052.04 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 304.41 | 421.78 | 626.69 | 744.06 | 948.97 | 1,066.34 | 1,271.25 |
| Camarilla | 742.97 | 772.52 | 802.06 | 831.60 | 861.14 | 890.69 | 920.23 |
| Woodie | 348.18 | 443.67 | 670.46 | 765.95 | 992.74 | 1,088.23 | 1,315.02 |
| Fibonacci | 421.78 | 544.89 | 620.95 | 744.06 | 867.17 | 943.23 | 1,066.34 |
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): | 73.53 | |
| MACD (12,26,9): | 15.5000 | |
| Directional Movement: | 28.84 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 930.25 | |
| Parabolic SAR (0,02-0,02-0,2): | 912.71 | |
| Elder Ray (13): | 27.69 | |
| Super Trend (3,10): | 903.77 | |
| Zig ZAG (10): | 948.39 | |
| VORTEX (21): | 1.2700 | |
| Stochastique (14,3,5): | 78.58 | |
| TEMA (21): | 943.92 | |
| Williams %R (14): | -15.54 | |
| Chande Momentum Oscillator (20): | 70.69 | |
| Repulse (5,40,3): | 1.4800 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1700 | |
| Courbe Coppock: | 10.90 |
| MA7: | 910.13 | |
| MA20: | 881.15 | |
| MA50: | 751.26 | |
| MA100: | 717.06 | |
| MAexp7: | 933.88 | |
| MAexp20: | 912.53 | |
| MAexp50: | 901.16 | |
| MAexp100: | 904.09 | |
| Price / MA7: | +8.00% | |
| Price / MA20: | +11.55% | |
| Price / MA50: | +30.84% | |
| Price / MA100: | +37.08% | |
| Price / MAexp7: | +5.25% | |
| Price / MAexp20: | +7.71% | |
| Price / MAexp50: | +9.07% | |
| Price / MAexp100: | +8.72% |
Quotes :
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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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