MAKER - MKR/USD - 1H - Technical analysis published on 01/13/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Bullish
Technical indicators
67%
6%
28%
My opinion
Bullish above 2,044.17 USD
My targets
2,089.49 USD (+0.73%)
2,220.80 USD (+7.06%)
My analysis
A bullish trend on MAKER - MKR/USD both in substance and in the short term. A purchase could be considered as long as the price remains above 2,044.17 USD. Each resistance break is a strong signal that the current trend will continue. The first bullish objective would be 2,089.49 USD. Then the price could move towards 2,220.80 USD. Then 3,322.75 USD by extension. Be careful, a return below 2,044.17 USD would be a sign of the trend weakening and a possible correction phase could then occur. In this case, you could keep away while waiting for a signal that the basic trend will resume. Trading against the trend could be riskier.
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
5.9
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Additional analysis
Quotes
The MAKER - MKR/USD price is 2,074.34 USD. The price registered an increase of +2.42% on the session and was between 2,015.59 USD and 2,085.58 USD. This implies that the price is at +2.91% from its lowest and at -0.54% from its highest.2,015.59
2,085.58
2,074.34
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
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:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Technical
A technical analysis in 1H of this MAKER - MKR/USD chart shows a bullish trend. 78.57% of the signals given by moving averages are bullish. The overall trend seems to be showing some signs of weakness, as do the tentative bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The technical indicators are bullish. There is still some doubt about the price increase.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
RSI indicator: bearish divergence
Type : Bearish
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 : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1,833.44 | 1,975.60 | 2,044.17 | 2,074.34 | 2,089.49 | 2,220.80 | 3,322.75 |
| Change (%) | -11.61% | -4.76% | -1.45% | - | +0.73% | +7.06% | +60.18% |
| Change | -240.90 | -98.74 | -30.17 | - | +15.15 | +146.46 | +1,248.41 |
| Level | Intermediate | Intermediate | Minor | - | Intermediate | Major | Intermediate |
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 | 1,712.88 | 1,841.89 | 1,933.59 | 2,062.60 | 2,154.30 | 2,283.31 | 2,375.01 |
| Camarilla | 1,964.61 | 1,984.84 | 2,005.07 | 2,025.30 | 2,045.53 | 2,065.76 | 2,086.00 |
| Woodie | 1,694.24 | 1,832.56 | 1,914.95 | 2,053.27 | 2,135.66 | 2,273.98 | 2,356.37 |
| Fibonacci | 1,841.89 | 1,926.20 | 1,978.29 | 2,062.60 | 2,146.91 | 2,199.00 | 2,283.31 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,107.83 | 1,329.56 | 1,514.94 | 1,736.67 | 1,922.05 | 2,143.78 | 2,329.16 |
| Camarilla | 1,588.37 | 1,625.68 | 1,663.00 | 1,700.32 | 1,737.64 | 1,774.96 | 1,812.28 |
| Woodie | 1,089.66 | 1,320.47 | 1,496.77 | 1,727.58 | 1,903.88 | 2,134.69 | 2,310.99 |
| Fibonacci | 1,329.56 | 1,485.08 | 1,581.15 | 1,736.67 | 1,892.19 | 1,988.26 | 2,143.78 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 878.57 | 1,066.77 | 1,381.41 | 1,569.61 | 1,884.25 | 2,072.45 | 2,387.09 |
| Camarilla | 1,557.78 | 1,603.87 | 1,649.97 | 1,696.06 | 1,742.15 | 1,788.25 | 1,834.34 |
| Woodie | 941.80 | 1,098.38 | 1,444.64 | 1,601.22 | 1,947.48 | 2,104.06 | 2,450.32 |
| Fibonacci | 1,066.77 | 1,258.85 | 1,377.52 | 1,569.61 | 1,761.69 | 1,880.36 | 2,072.45 |
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): | 53.72 | |
| MACD (12,26,9): | -8.5600 | |
| Directional Movement: | 1.67 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 2,055.09 | |
| Parabolic SAR (0,02-0,02-0,2): | 1,979.72 | |
| Elder Ray (13): | 20.67 | |
| Super Trend (3,10): | 2,127.41 | |
| Zig ZAG (10): | 2,082.38 | |
| VORTEX (21): | 0.9800 | |
| Stochastique (14,3,5): | 68.37 | |
| TEMA (21): | 2,045.05 | |
| Williams %R (14): | -13.03 | |
| Chande Momentum Oscillator (20): | 41.22 | |
| Repulse (5,40,3): | 1.4700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.1100 | |
| Courbe Coppock: | 4.10 |
| MA7: | 1,956.17 | |
| MA20: | 1,747.62 | |
| MA50: | 1,548.88 | |
| MA100: | 1,470.41 | |
| MAexp7: | 2,064.74 | |
| MAexp20: | 2,067.61 | |
| MAexp50: | 2,063.09 | |
| MAexp100: | 2,012.75 | |
| Price / MA7: | +6.04% | |
| Price / MA20: | +18.70% | |
| Price / MA50: | +33.93% | |
| Price / MA100: | +41.07% | |
| Price / MAexp7: | +0.46% | |
| Price / MAexp20: | +0.33% | |
| Price / MAexp50: | +0.55% | |
| Price / MAexp100: | +3.06% |
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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