MAKER - MKR/USD

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Type:	Cryptocurrencies
Ticker:	MKRUSD
ISIN:

MAKER - MKR/USD - Weekly - Technical analysis published on 08/27/2023 (GMT)

Londinia

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Timeframe : Weekly
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Neutral

Technical indicators

67%

11%

22%

My opinion

Bullish above 946.40 USD

My targets

1,424.12 USD (+36.97%)

1,911.12 USD (+83.81%)

My analysis

The strong short-term increase of MAKER - MKR/USD should quickly allow the basic trend to become bullish. As long as the price remains above the support located at 946.40 USD, a purchase could be considered. The first bullish objective is located at 1,424.12 USD. The bullish momentum would be boosted by a break in this resistance. Buyers could then target the resistance located at 1,911.12 USD. If there is any crossing, the next objective would be the resistance at 2,220.80 USD. Caution, if there is a return under 946.40 USD, it should not be forgotten that the basic trend is not yet clear. Caution would then be required.

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

3.6

Comment on the analysis

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 mosabalzayed. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The MAKER - MKR/USD price is 1,039.70 USD. The price is lower by -6.43% over the 5 days and has been traded over the last 5 days between 997.86 USD and 1,117.81 USD. This implies that the 5 day price is +4.19% from its lowest point and -6.99% from its highest point.

997.86

1,117.81

1,039.70

The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bullish opening

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by MAKER - MKR/USD:

Technical

A technical analysis in Weekly of this MAKER - MKR/USD chart shows a neutral trend. The strong bullish signals currently being given by short-term moving averages could allow the overall trend to return to bullish. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, 12 technical indicators on 18 studied are currently bullish. The Central Indicators scanner specialised in technical indicators, has not detected anything further.

No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

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 : Weekly

Bullish harami cross

Type : Bullish

Timeframe : Weekly

ProTrendLines

Price

	S1	Price	R1	R2	R3
ProTrendLines	946.40	1,039.70	2,220.80	3,875.66	5,996.59
Change (%)	-8.97%	-	+113.60%	+272.77%	+476.76%
Change	-93.30	-	+1,181.10	+2,835.96	+4,956.89
Level	Major	-	Minor	Minor	Major

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	971.62	988.30	1,014.19	1,030.87	1,056.76	1,073.44	1,099.33
Camarilla	1,028.37	1,032.28	1,036.18	1,040.08	1,043.98	1,047.89	1,051.79
Woodie	976.23	990.60	1,018.80	1,033.17	1,061.37	1,075.74	1,103.94
Fibonacci	988.30	1,004.56	1,014.61	1,030.87	1,047.13	1,057.18	1,073.44

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	847.22	917.63	978.86	1,049.27	1,110.50	1,180.91	1,242.14
Camarilla	1,003.88	1,015.95	1,028.01	1,040.08	1,052.15	1,064.21	1,076.28
Woodie	842.62	915.34	974.26	1,046.98	1,105.90	1,178.62	1,237.54
Fibonacci	917.63	967.92	998.99	1,049.27	1,099.56	1,130.63	1,180.91

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	450.12	648.58	937.12	1,135.58	1,424.12	1,622.58	1,911.12
Camarilla	1,091.73	1,136.37	1,181.01	1,225.65	1,270.29	1,314.93	1,359.58
Woodie	495.15	671.10	982.15	1,158.10	1,469.15	1,645.10	1,956.15
Fibonacci	648.58	834.62	949.55	1,135.58	1,321.62	1,436.55	1,622.58

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):	57.52
MACD (12,26,9):	101.6100
Directional Movement:	11.59
AROON (14):	57.14
DEMA (21):	1,060.04
Parabolic SAR (0,02-0,02-0,2):	916.77
Elder Ray (13):	34.17
Super Trend (3,10):	760.43
Zig ZAG (10):	1,039.93
VORTEX (21):	1.1300
Stochastique (14,3,5):	63.51
TEMA (21):	1,174.08
Williams %R (14):	-39.33
Chande Momentum Oscillator (20):	422.91
Repulse (5,40,3):	-4.4100
ROCnROLL:	1
TRIX (15,9):	1.4600
Courbe Coppock:	135.54

MA7:	1,047.14
MA20:	1,144.11
MA50:	1,110.25
MA100:	908.67
MAexp7:	1,072.23
MAexp20:	945.15
MAexp50:	939.25
MAexp100:	1,122.38
Price / MA7:	-0.71%
Price / MA20:	-9.13%
Price / MA50:	-6.35%
Price / MA100:	+14.42%
Price / MAexp7:	-3.03%
Price / MAexp20:	+10.00%
Price / MAexp50:	+10.69%
Price / MAexp100:	-7.37%

Quotes : - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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