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Maker

MakerDAO MKR price moves up in a decentralized mannerDespite the relatively high price, the Maker MKR token managed to double in price in a month . It turns out that now the MakerDAO ecosystem, which is one of the first projects on the decentralized finance (DeFi) scene, is now the locomotive that should once again accelerate interest in DeFi. At the moment, the MKRUSDT price is trying to gain a foothold above the important liquidity zone of $1050-1150. If it succeeds, it will only be a matter of time before it continues to grow to $1750-1850. If the MKRUSD price follows the red scenario, then the price zone of $630-730 can be considered a reasonable one for medium and long-term investments in the Maker Protocol token. _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
32
MKR: Bullish Flag BreakoutMaker (MKR) technical analysis: Trade setup : Trends have reversed to uptrend but price has reached our target of $1,000-$1,100 resistance zone. It briefly consolidated in Bullish Flag pattern, broke out again and spiked up as high as $1,250, making a new Higher High (sign up Uptrend). However, we’re deep in a resistance zone, so we would prefer to enter on another pullback or if price breaks above $1.1K resistance. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $800 (previous resistance), then $600 – $700. The nearest Resistance Zone is $1,000 – $1,100, then $1,250.
Long
by altFINS
MKR (Maker) Token Analysis 03/04/2021Fundamentals: Maker (MKR) is the governance token of the MakerDAO and Maker Protocol — respectively a decentralized organization and a software platform, both based on the Ethereum blockchain — that allows users to issue and manage the DAI stablecoin. Initially conceived in 2015 and fully launched in December 2017, Maker is a project whose task is to operate DAI, a community-managed decentralized cryptocurrency with a stable value soft-pegged to the US dollar. MKR tokens act as a kind of voting share for the organization that manages DAI; while they do not pay dividends to their holders, they do give the holders voting rights over the development of Maker Protocol and are expected to appreciate in value in accordance with the success of DAI itself. The Maker ecosystem is one of the earliest projects on the decentralized finance (DeFi) scene: the industry that seeks to build decentralized financial products on top of smart-contract-enabled blockchains, such as Ethereum. As of October 2020, DAI is one of the most popular stablecoins (cryptocurrencies whose prices are pegged to the USD or another traditional currency). It is the 25th largest cryptocurrency at over $800 million in market capitalization and it has more active addresses than USDT — the largest stablecoin on the market. MKR’s unique proposition lies in the fact that it allows its holders to directly participate in the process of governing DAI. Every holder of Maker tokens has the right to vote on a number of changes to the Maker Protocol, with their voting power depending on the size of their MKR stake. Some of the aspects of the protocol the holders can vote on are: Adding new collateral asset types to the protocol, allowing users to submit new cryptocurrencies to mint more DAI; Amend the risk parameters of existing collateral asset types; Change the DAI Savings Rate: holders of DAI tokens can earn savings by locking them in a special contract, and the Savings Rate impacts the profitability of that contract; Choose the oracles — entities whose goal is to supply trustworthy off-blockchain data to the Maker ecosystem; Upgrades to the platform. This ability to participate in the management of one of the largest stablecoins on the market is what drives the demand for MKR tokens and correspondingly affects their value. MakerDAO, the first entity inside the larger Maker ecosystem, was created in 2015 by Rune Christensen, an entrepreneur from Sealand, Denmark. The issuance and removal of MKR from the system is governed by a complex system of interdependent mechanisms designed to ensure that DAI is always fully collateralized by other cryptocurrency assets and its soft peg to the USD is maintained. There is no hard-coded limit on the total supply of MKR. DAI’s value is secured by collateral — other cryptocurrencies that are deposited by users when minting new DAI tokens and stored in so-called vaults — smart contracts on the Ethereum blockchain. During price downswings, the value of crypto stored in the vault might become insufficient to fully collateralize the corresponding amount of DAI. In that case, the Maker Protocol automatically initiates the liquidation of the vault’s contents, the proceeds of which it uses to cover that vault’s obligations. If the amount of DAI generated during the liquidation is not enough, the Maker Protocol mints new MKR tokens to sell and cover the remaining sum, thereby increasing the total supply. However, in some cases, the amount of DAI made from the auctions exceeds the necessary limit to ensure full collateralizations — then, it is used by the Maker Protocol to buy back and burn MKR tokens, decreasing their total supply. Thus, the supply of MKR is a dynamic value that changes depending on market conditions and the overall health of the DAI ecosystem. As of October 2020, the circulating supply of Maker tokens is about 1 million, worth more than $500 million. Christensen graduated from Copenhagen University with a degree in biochemistry and studied international business at the Copenhagen Business School. Prior to MakerDAO, he co-founded and managed the Try China international recruiting company. Technical Analysis: as we can see there is Hidden Divergence with MACD after an impulsive wave on its retracement which is the sign of Bullish Trend Continuation with more Power, there total of 3 Targets Defined with Fibonacci Projection the 3 TP gets Confirmed as price triggers the 2 TP as it is the extension level and it makes the 3 TP a sure Target.
Long
by BitonGroup
4
MKRUSD under heavy Resistance. Bearish below it, bullish above.Maker (MKRUSD) has had an incredible bullish run since June 12, being currently on the 6th straight green 1W (weekly) candle. This rally has taken a stop on the 1W MA200 (orange trend-line) two weeks ago but more importantly it faces an even stronger Resistance from the October 03 2022 High at 1165. This is taken from the previous Cycle and the early 2019 fractal where after MKR again broke above the Bear Cycle's Lower Highs trend-line and the 1W MA50 (blue trend-line), it failed to close above the October 08 2018 Resistance and turned into a wide and long-term Accumulation Phase for 1 year. As a result, we currently believe that until the price closes a 1W candle above the Resistance, it will most likely pull-back to the 1W MA50. If however it closes above the Resistance, this fractal will get invalidated and we will buy the bullish break-out towards Resistance 2 at 2300. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:MKRUSD
by TradingShot
Maker astonishing rise ahead?👀!! 🚀MKR Today Analysis💎 MKR is currently trading in a high volume area, with the poc of the Volume Profile Visible Range acting as support. 💎 if it fails to hold its position at the POC, it could correct to another level, potentially up to 5%, before resuming a bullish trend. 💎 maintaining a strong position above the 50-day Exponential Moving Average, further indicating a potential bullish move. 💎A crucial support level at 588, and a low volume node has been observed. A breakdown of this support could shift the market momentum into a bearish zone. 💎In the dynamic world of crypto, staying informed and adaptable is key. Stay tuned for more updates and enjoy your trading journey!
Long
by MyCryptoParadise_Simon
1
MKR: Bullish PennantMaker (MKR) technical analysis: Trade setup : Trends have reversed to uptrend but has reached our target of $1,000-$1,100 resistance zone, where it got rejected. Notice the long wicks on recent daily candles, indicating heavy selling. After a 100% gain from recent lows ($500) on June 10th, we expect some profit taking around the $1K resistance area. Now it’s consolidating in a Bullish Pennant pattern and we wait for a breakout. We highlighted MKR in our recent trading video “5 coins with big upside near-term”. Maker is a well established DeFi platform with real users and revenues , which forms a solid foundation for investors looking to trade it. Pattern : Bullish Pennant – forms typically following a sharp advance, followed by a brief triangular shaped consolidation in price (a small change in direction), before the previous uptrend (bullish) typically resumes. The period of consolidation should have lower volume and the breakouts should occur on higher volume. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening. Support and Resistance : Nearest Support Zone is $800 (previous resistance), then $600 – $700. The nearest Resistance Zone is $1000 – $1100.
Long
by altFINS
MKRUSD giving very clear breakout signalsMKRUSD is approaching the MA200 (1w) which is untouched since October 17th 2022. The price has already closed over the MA50 (1w) last week for the first time since March 28th 2022, giving a clear long term buy signal. A closing above the MA200 as well, is the next buy signal to take advantage of. Trading Plan: 1. Buy if the price crosses over the MA200 (1w). 2. Buy if it then closes over Resistance (1) as well. Targets: 1. 1160 (Resistance 1). 2. 1235 (Resistance 2). Tips: 1. The RSI (1w) is rising inside a Channel Up since October 2022, a sign of a market bottom and long term reversal into a Bull Market. Please like, follow and comment!!
CRYPTO:MKRUSD
by TradingBrokersView
1
MKR: Resistance BreakoutMaker (MKR) technical analysis: Trade setup : Trends are reversing to uptrend. The $600-700 support zone once again acted as an attractive entry area. Now price broke above the 200-day moving average (~$676) and above $800 resistance, signaling potential trend reversal. Price could revisit $1K resistance. Maker is a well established DeFi platform with real users and revenues , which forms a solid foundation for investors looking to trade it. Trend : Uptrend on Short- and Medium-Term basis and Downtrend on Long-Term basis. Momentum is Bullish ( MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $600 – $700, then $500. The nearest Resistance Zone is $800, which it broke, then $1000 – $1100.
Long
by altFINS
MKR Maker Retracement to the Support after Overbought AreaIf you haven`t bought MKR before the crypto rally: Or sold it on the way down: Then you should know that the Crypto MAKER has recently experienced a period of being overbought, indicating a potential need for a retracement or pullback in the near term. Overbought conditions occur when the price of an asset has risen too quickly and may be due for a temporary correction. Considering the current situation, it is reasonable to anticipate a retracement in MAKER's price, with a potential target of the support level around $638. Looking forward to read your opinion about it.
Short
by TopgOptions
MKR: Approaching SupportMaker (MKR) technical analysis: Trade setup : After getting rejected at $1000 resistance 2x, price has pulled back to $600-700 support zone again, which could be an attractive swing entry in Uptrend with upside potential back to $1K-$1.1K resistance area. Momentum is inflecting bullish again (MACD Histogram rising). Maker is a well established DeFi platform with real users and revenues , which forms a solid foundation for investors looking to trade it. Trend : Downtrend on Short- and Medium-Term basis and Uptrend on Long-Term basis. Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish). Support and Resistance : Nearest Support Zone is $600 – $700, then $500. The nearest Resistance Zone is $800, then $1000 – $1100.
Long
by altFINS
2
MKRUSDTHello dear friends Due to the negative divergence of the RSI in the daily time frame, the possibility of completing the bullish wedge pattern at the end of the uptrend has been strengthened. 🔍 If the range of $719 is completely consumed, the possibility of reaction to the range of $806 will be strengthened and we can expect the continuation of the downward trend to the range of $605 and $536. ❗️❗️❗️ Note that if the $932 resistance range is completely consumed, the above view will expire. We would be happy to hear your comments
Short
by FiboTech
8
MKRUSD Golden Cross sending it to the ResistanceMaker is having a Golden Cross (1D) event. The first since August 24th 2021. The pattern is a Channel Up. Trading Plan: 1. Buy on the current market price and as long as the MA50 (1D) is supporting. Targets: 1. 1140 (beneath Resistance 1). 2. 1650 (beneath Resistance 2) as long as we get a pull back to MA100 (1D). Tips: 1. The RSI is holding over the 50.00 neutral level. Short term buy entries can be taken there. Long term though (as for example for Target 2) on the 30.00 oversold level. Please like, follow and comment!!
CRYPTO:MKRUSDLong
by TradingBrokersView
4
Will Maker Continue Its Rebound?Maker has rebounded recently, but how stable is this renewed bull run? What is Maker? Maker (MKR) is a decentralized cryptocurrency that operates on the Ethereum blockchain. It is a governance token used to manage the MakerDAO platform, which is a decentralized finance (DeFi) protocol. MKR has experienced some recent market trends and developments, so let’s the potential growth prospects of this cryptocurrency. MKR's Rally MKR has started rebounding from the descending channel that it has been stuck in since May 2021. It broke from its descending trendline it has been stuck in since August 2021, and crossed above the 200 Simple Moving Average (SMA), which acts as mobile support and resistance. These two indicators suggest MKR has turned bullish, and investors should keep an eye on this cryptocurrency. While MKR had a big day on Wednesday when it increased by 17%, it is unclear whether this strong rally will continue. Currently, MKR is slightly overbought, which means that the price may start to drop or range. Historically, each time MKR reached overbought levels on the Relative Strength Index (RSI), it started falling or ranging. However, it's essential to keep in mind that the RSI can be overbought for a few days, so it doesn't mean that it will change its current trend immediately. Support and Resistance If MKR starts retracing, the $700 and $500 support levels are ready to step in and halt the retracement. These support levels have been significant in the past and have helped to stabilize MKR during bearish phases. On the other hand, if the rally continues, the next resistance stands at $1,700. This level has been a significant support in the past. If MKR manages to break above it, it could lead to further growth in the cryptocurrency's price. Bottom Line: MKR recently rebounded from the bear market and crossed above the 200 SMA, suggesting that the cryptocurrency may be turning bullish. However, it is uncertain whether this rally will continue, and investors should keep an eye on the support and resistance levels mentioned above.
Long
by cryptohopper