MAKER - MKR/USD - 1H - Technical analysis published on 10/11/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 1,385.01 USD
My targets
1,421.80 USD (+1.13%)
1,487.14 USD (+5.78%)
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 1,385.01 USD. The buyers' bullish objective is set at 1,421.80 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1,487.14 USD. If there is any crossing, the next objective would be the resistance located at 1,534.80 USD.
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
6.3
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
MAKER - MKR/USD rating 1,405.91 USD. On the day, this instrument gained +2.04% and was traded between 1,369.68 USD and 1,409.48 USD over the period. The price is currently at +2.65% from its lowest and -0.25% from its highest.1,369.68
1,409.48
1,405.91
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of MAKER - MKR/USD in 1H shows an overall bullish trend. 67.86% of the signals given by moving averages are bullish. The overall trend is reinforced by the strong bullish signals from short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish trend reversal : adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
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
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
The presence of these Japanese chandelier patterns detected by Central Candlesticks that could impact the current short-term trend were also noted:
Black gravestone / inverted hammer
Type : Bearish
Timeframe : 1 hour
Three white soldiers
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1,353.15 | 1,385.01 | 1,403.33 | 1,405.91 | 1,421.80 | 1,487.14 | 1,534.80 |
| Change (%) | -3.75% | -1.49% | -0.18% | - | +1.13% | +5.78% | +9.17% |
| Change | -52.76 | -20.90 | -2.58 | - | +15.89 | +81.23 | +128.89 |
| Level | Minor | Intermediate | Minor | - | Intermediate | Minor | Major |
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 | 1,326.37 | 1,339.23 | 1,358.51 | 1,371.37 | 1,390.65 | 1,403.51 | 1,422.79 |
| Camarilla | 1,368.96 | 1,371.91 | 1,374.85 | 1,377.80 | 1,380.75 | 1,383.69 | 1,386.64 |
| Woodie | 1,329.59 | 1,340.84 | 1,361.73 | 1,372.98 | 1,393.87 | 1,405.12 | 1,426.01 |
| Fibonacci | 1,339.23 | 1,351.50 | 1,359.09 | 1,371.37 | 1,383.64 | 1,391.23 | 1,403.51 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,131.49 | 1,258.65 | 1,333.13 | 1,460.29 | 1,534.77 | 1,661.93 | 1,736.41 |
| Camarilla | 1,352.17 | 1,370.65 | 1,389.14 | 1,407.62 | 1,426.10 | 1,444.59 | 1,463.07 |
| Woodie | 1,105.16 | 1,245.48 | 1,306.80 | 1,447.12 | 1,508.44 | 1,648.76 | 1,710.08 |
| Fibonacci | 1,258.65 | 1,335.67 | 1,383.26 | 1,460.29 | 1,537.31 | 1,584.90 | 1,661.93 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 681.67 | 876.02 | 1,205.41 | 1,399.76 | 1,729.15 | 1,923.50 | 2,252.89 |
| Camarilla | 1,390.77 | 1,438.78 | 1,486.79 | 1,534.80 | 1,582.81 | 1,630.82 | 1,678.83 |
| Woodie | 749.19 | 909.78 | 1,272.93 | 1,433.52 | 1,796.67 | 1,957.26 | 2,320.41 |
| Fibonacci | 876.02 | 1,076.09 | 1,199.69 | 1,399.76 | 1,599.83 | 1,723.43 | 1,923.50 |
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): | 61.58 | |
| MACD (12,26,9): | 4.4500 | |
| Directional Movement: | 8.94 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 1,385.21 | |
| Parabolic SAR (0,02-0,02-0,2): | 1,373.50 | |
| Elder Ray (13): | 11.01 | |
| Super Trend (3,10): | 1,369.38 | |
| Zig ZAG (10): | 1,398.04 | |
| VORTEX (21): | 1.1300 | |
| Stochastique (14,3,5): | 80.64 | |
| TEMA (21): | 1,391.21 | |
| Williams %R (14): | 0.00 | |
| Chande Momentum Oscillator (20): | 25.78 | |
| Repulse (5,40,3): | 1.8800 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0300 | |
| Courbe Coppock: | 2.62 |
| MA7: | 1,410.56 | |
| MA20: | 1,412.47 | |
| MA50: | 1,251.45 | |
| MA100: | 1,177.37 | |
| MAexp7: | 1,387.34 | |
| MAexp20: | 1,380.10 | |
| MAexp50: | 1,379.75 | |
| MAexp100: | 1,391.26 | |
| Price / MA7: | -0.33% | |
| Price / MA20: | -0.46% | |
| Price / MA50: | +12.34% | |
| Price / MA100: | +19.41% | |
| Price / MAexp7: | +1.34% | |
| Price / MAexp20: | +1.87% | |
| Price / MAexp50: | +1.90% | |
| Price / MAexp100: | +1.05% |
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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