MAKER - MKR/USD - Daily - Technical analysis published on 08/01/2023 (GMT)
- 168
- 0
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
94%
0%
6%
My opinion
Bullish above 1,117.96 USD
My targets
1,441.59 USD (+9.41%)
1,657.67 USD (+25.80%)
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 1,117.96 USD. The next resistance located at 1,441.59 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 1,657.67 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.
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
9.1
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 1,317.66 USD. The price has increased by +7.51% since the last closing with the lowest point at 1,185.84 USD and the highest point at 1,332.44 USD. The deviation from the price is +11.12% for the low point and -1.11% for the high point.1,185.84
1,332.44
1,317.66
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 Daily chart of MAKER - MKR/USD indicates that the overall trend is strongly bullish. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 17 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : Daily
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish engulfing lines
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 800.11 | 867.55 | 981.52 | 1,317.66 | 2,220.80 | 3,322.75 | 3,875.66 |
| Change (%) | -39.28% | -34.16% | -25.51% | - | +68.54% | +152.17% | +194.13% |
| Change | -517.55 | -450.11 | -336.14 | - | +903.14 | +2,005.09 | +2,558.00 |
| Level | Minor | Minor | Minor | - | Minor | 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 | 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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 73.75 | |
| MACD (12,26,9): | 106.0300 | |
| Directional Movement: | 28.25 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 1,246.10 | |
| Parabolic SAR (0,02-0,02-0,2): | 1,049.98 | |
| Elder Ray (13): | 91.01 | |
| Super Trend (3,10): | 998.73 | |
| Zig ZAG (10): | 1,316.49 | |
| VORTEX (21): | 1.1500 | |
| Stochastique (14,3,5): | 83.97 | |
| TEMA (21): | 1,283.42 | |
| Williams %R (14): | -4.58 | |
| Chande Momentum Oscillator (20): | 282.74 | |
| Repulse (5,40,3): | 8.6500 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 1.4100 | |
| Courbe Coppock: | 58.50 |
| MA7: | 1,228.33 | |
| MA20: | 1,081.42 | |
| MA50: | 905.59 | |
| MA100: | 779.87 | |
| MAexp7: | 1,227.31 | |
| MAexp20: | 1,111.90 | |
| MAexp50: | 959.45 | |
| MAexp100: | 852.05 | |
| Price / MA7: | +7.27% | |
| Price / MA20: | +21.85% | |
| Price / MA50: | +45.50% | |
| Price / MA100: | +68.96% | |
| Price / MAexp7: | +7.36% | |
| Price / MAexp20: | +18.51% | |
| Price / MAexp50: | +37.33% | |
| Price / MAexp100: | +54.65% |
Quotes :
-
Real time data
-
Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
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…
Add a comment
Comments
0 comments on the analysis MAKER - MKR/USD - Daily