MAKER - MKR/USD - Daily - Technical analysis published on 03/10/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Slightly bearish
Technical indicators
17%
72%
11%
My opinion
Bearish under 550.77 USD
My targets
506.36 USD (-4.75%)
455.71 USD (-14.28%)
My analysis
The strong short-term decline of MAKER - MKR/USD reinforces the current slightly bearish trend. As long as the price remains below 550.77 USD, you could take advantage of this bearish acceleration. The first bearish objective is located at 506.36 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 455.71 USD as an objective. Crossing it would then enable sellers to target 414.62 USD. A return to above 550.77 USD would be a sign of a correction of short-term bearish excesses. In this case, you could stay away while waiting for signals indicating a reversal of the trend.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
FORCE
0
10
4.6
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
MAKER - MKR/USD rating 531.62 USD. The price is lower by +5.77% since the last closing and was between 502.61 USD and 534.80 USD. This implies that the price is at +5.77% from its lowest and at -0.59% from its highest.502.61
534.80
531.62
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of MAKER - MKR/USD in Daily shows an overall slightly bearish trend. 60.71% of the signals given by moving averages are bearish. This slightly bearish trend could be reinforced by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : Daily
In fact, 13 technical indicators on 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : Daily
Ichimoku : price is under the cloud
Type : Bearish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 414.62 | 455.71 | 506.36 | 531.62 | 550.77 | 599.95 | 654.63 |
| Change (%) | -22.01% | -14.28% | -4.75% | - | +3.60% | +12.85% | +23.14% |
| Change | -117.00 | -75.91 | -25.26 | - | +19.15 | +68.33 | +123.01 |
| Level | Major | Intermediate | Major | - | Intermediate | Minor | Intermediate |
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 | 454.74 | 470.88 | 486.74 | 502.88 | 518.74 | 534.88 | 550.74 |
| Camarilla | 493.81 | 496.74 | 499.68 | 502.61 | 505.54 | 508.48 | 511.41 |
| Woodie | 454.61 | 470.81 | 486.61 | 502.81 | 518.61 | 534.81 | 550.61 |
| Fibonacci | 470.88 | 483.10 | 490.65 | 502.88 | 515.10 | 522.65 | 534.88 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 473.58 | 502.87 | 561.45 | 590.74 | 649.32 | 678.61 | 737.19 |
| Camarilla | 595.87 | 603.92 | 611.98 | 620.03 | 628.09 | 636.14 | 644.19 |
| Woodie | 488.23 | 510.19 | 576.10 | 598.06 | 663.97 | 685.93 | 751.84 |
| Fibonacci | 502.87 | 536.44 | 557.17 | 590.74 | 624.31 | 645.04 | 678.61 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 250.63 | 379.09 | 470.07 | 598.53 | 689.51 | 817.97 | 908.95 |
| Camarilla | 500.69 | 520.81 | 540.93 | 561.04 | 581.16 | 601.27 | 621.39 |
| Woodie | 231.88 | 369.72 | 451.32 | 589.16 | 670.76 | 808.60 | 890.20 |
| Fibonacci | 379.09 | 462.92 | 514.71 | 598.53 | 682.36 | 734.15 | 817.97 |
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): | 44.79 | |
| MACD (12,26,9): | -12.4200 | |
| Directional Movement: | -6.68 | |
| AROON (14): | -92.86 | |
| DEMA (21): | 554.10 | |
| Parabolic SAR (0,02-0,02-0,2): | 617.37 | |
| Elder Ray (13): | -38.32 | |
| Super Trend (3,10): | 634.68 | |
| Zig ZAG (10): | 531.62 | |
| VORTEX (21): | 0.8700 | |
| Stochastique (14,3,5): | 15.50 | |
| TEMA (21): | 532.15 | |
| Williams %R (14): | -66.46 | |
| Chande Momentum Oscillator (20): | -31.07 | |
| Repulse (5,40,3): | -3.5600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1100 | |
| Courbe Coppock: | 21.13 |
| MA7: | 550.30 | |
| MA20: | 577.85 | |
| MA50: | 566.05 | |
| MA100: | 524.36 | |
| MAexp7: | 543.96 | |
| MAexp20: | 565.27 | |
| MAexp50: | 561.19 | |
| MAexp100: | 546.20 | |
| Price / MA7: | -3.39% | |
| Price / MA20: | -8.00% | |
| Price / MA50: | -6.08% | |
| Price / MA100: | +1.38% | |
| Price / MAexp7: | -2.27% | |
| Price / MAexp20: | -5.95% | |
| Price / MAexp50: | -5.27% | |
| Price / MAexp100: | -2.67% |
This member declared not having a position on this financial instrument or a related financial instrument.
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