The Maker price chart was an intense match between bulls and bears. initially, bulls had control in MKR, but later shift in the wind dropped the game in the bears' favor. This caused the MKR price into a bullish falling wedge pattern, but this week seems to be very productive for the MKR asset, as the performance this week rose 11.68%.
At press time, the MKR price has traded at $3005.28 with an intraday decline of -1.85%, with a market capitalization of $2.78 Billion.
In Maker DAO (MKR) a breakout has taken place out of a descending wedge pattern on the daily chart.
Similarly, the MKR asset daily chart presents that it has been growing from support and remains above the 20-day, and 50-day EMAs, depict bullish strength in the short-term.
In the same way, the MACD portrays a bullish cross, with a uprising histogram in MKR at 52.68, and the RSI glowed at 55.41. It represented that the Maker DAO crypto is not losing steam yet and could proceed to climb higher in future sessions.
Therefore, if the breakout rallies strongly, the next target for the MKR price could be to touch the above levels, such as $3482.0 and $4087.33.
On the contrary, if the MKR price nosedives and trades inside the pattern again, the bullish pattern made in MKR would lose its importance and would become invalid.
Likewise, in this case, if the Maker crypto price fails to stay above the $2605.0 level, it could also decline further.
At press time, the MKR price has traded at $3005.28 with an intraday decline of -1.85%, with a market capitalization of $2.78 Billion.
In Maker DAO (MKR) a breakout has taken place out of a descending wedge pattern on the daily chart.
Similarly, the MKR asset daily chart presents that it has been growing from support and remains above the 20-day, and 50-day EMAs, depict bullish strength in the short-term.
In the same way, the MACD portrays a bullish cross, with a uprising histogram in MKR at 52.68, and the RSI glowed at 55.41. It represented that the Maker DAO crypto is not losing steam yet and could proceed to climb higher in future sessions.
Therefore, if the breakout rallies strongly, the next target for the MKR price could be to touch the above levels, such as $3482.0 and $4087.33.
On the contrary, if the MKR price nosedives and trades inside the pattern again, the bullish pattern made in MKR would lose its importance and would become invalid.
Likewise, in this case, if the Maker crypto price fails to stay above the $2605.0 level, it could also decline further.