MAKER - MKR/USD - 1H - Technical analysis published on 08/01/2023 (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%
6%
6%
My opinion
Bullish above 1,308.67 USD
My targets
1,334.05 USD (+0.62%)
1,409.18 USD (+6.28%)
My analysis
MAKER - MKR/USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 1,308.67 USD. The next resistance located at 1,334.05 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 1,409.18 USD. After this resistance, buyers could then target 2,220.80 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. 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
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
MAKER - MKR/USD rating 1,325.89 USD. The price registered an increase of +8.18% on the session and was between 1,185.84 USD and 1,332.44 USD. This implies that the price is at +11.81% from its lowest and at -0.49% from its highest.1,185.84
1,332.44
1,325.89
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by MAKER - MKR/USD:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of MAKER - MKR/USD indicates that the overall trend is strongly bullish. 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. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
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 | 1,236.12 | 1,275.67 | 1,308.67 | 1,325.89 | 1,334.05 | 2,220.80 | 3,322.75 |
| Change (%) | -6.77% | -3.79% | -1.30% | - | +0.62% | +67.50% | +150.61% |
| Change | -89.77 | -50.22 | -17.22 | - | +8.16 | +894.91 | +1,996.86 |
| Level | Minor | Intermediate | Minor | - | Minor | Minor | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,082.04 | 1,144.00 | 1,184.75 | 1,246.71 | 1,287.46 | 1,349.42 | 1,390.17 |
| Camarilla | 1,197.26 | 1,206.67 | 1,216.09 | 1,225.50 | 1,234.92 | 1,244.33 | 1,253.75 |
| Woodie | 1,071.44 | 1,138.70 | 1,174.15 | 1,241.41 | 1,276.86 | 1,344.12 | 1,379.57 |
| Fibonacci | 1,144.00 | 1,183.24 | 1,207.48 | 1,246.71 | 1,285.95 | 1,310.19 | 1,349.42 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 753.58 | 879.91 | 1,081.38 | 1,207.71 | 1,409.18 | 1,535.51 | 1,736.98 |
| Camarilla | 1,192.70 | 1,222.74 | 1,252.79 | 1,282.84 | 1,312.89 | 1,342.94 | 1,372.99 |
| Woodie | 791.14 | 898.70 | 1,118.94 | 1,226.50 | 1,446.74 | 1,554.30 | 1,774.54 |
| Fibonacci | 879.91 | 1,005.13 | 1,082.49 | 1,207.71 | 1,332.93 | 1,410.29 | 1,535.51 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 362.17 | 578.25 | 901.88 | 1,117.96 | 1,441.59 | 1,657.67 | 1,981.30 |
| Camarilla | 1,077.08 | 1,126.55 | 1,176.03 | 1,225.50 | 1,274.97 | 1,324.45 | 1,373.92 |
| Woodie | 415.94 | 605.14 | 955.65 | 1,144.85 | 1,495.36 | 1,684.56 | 2,035.07 |
| Fibonacci | 578.25 | 784.42 | 911.79 | 1,117.96 | 1,324.13 | 1,451.50 | 1,657.67 |
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): | 70.49 | |
| MACD (12,26,9): | 11.2800 | |
| Directional Movement: | 26.39 | |
| AROON (14): | 100.00 | |
| DEMA (21): | 1,258.08 | |
| Parabolic SAR (0,02-0,02-0,2): | 1,241.66 | |
| Elder Ray (13): | 46.85 | |
| Super Trend (3,10): | 1,242.60 | |
| Zig ZAG (10): | 1,309.25 | |
| VORTEX (21): | 1.2000 | |
| Stochastique (14,3,5): | 93.30 | |
| TEMA (21): | 1,273.47 | |
| Williams %R (14): | -4.67 | |
| Chande Momentum Oscillator (20): | 76.42 | |
| Repulse (5,40,3): | 3.1500 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 8.39 |
| MA7: | 1,227.48 | |
| MA20: | 1,080.46 | |
| MA50: | 905.19 | |
| MA100: | 779.66 | |
| MAexp7: | 1,271.85 | |
| MAexp20: | 1,247.70 | |
| MAexp50: | 1,244.09 | |
| MAexp100: | 1,233.08 | |
| Price / MA7: | +8.02% | |
| Price / MA20: | +22.72% | |
| Price / MA50: | +46.48% | |
| Price / MA100: | +70.06% | |
| Price / MAexp7: | +4.25% | |
| Price / MAexp20: | +6.27% | |
| Price / MAexp50: | +6.58% | |
| Price / MAexp100: | +7.53% |
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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