Get started
MakerMakerMaker
#221#221#221

Maker

No trades
OverviewNewsCommunityTechnicalsSeasonalsMarkets

In-depth trading ideas


Discover detailed market analysis from traders. See how others approach this instrument, compare different strategies, and discover perspectives that can shape your own view.
Trade ideasMinds
User Engagement Drops: Can Maker Price Crash Below $1400 Level? User Engagement Drops: Can Maker Price Crash Below $1400 Level? The 24 hour as well as 7 day active address has dropped to a three-month low. Along with a 10% drop a week, Maker's price was listed among the top five losers of the week. While the broader market was headed for a recovery, Maker seemed to be digging the ground more and more losing 10% a week. MKR price was on a 5 day losing streak and following a strong bearish path. At the time of writing, Maker was exchanging hands close to $1444 losing over 3.5% a day. Along with this fall, Maker has erased all the gains of 2024 and was headed to erase more. The long term as well as short term perspective is weak for Maker with a potential crash below the $1400 level if the selling pressure resumes. Recent on-chain data suggests the short term outlook may remain in the favor of sellers. Investors Concern Over Decreasing User Engagement Maker Price might emerge as one of the top underperforming cryptocurrencies this month due to a strong selling pressure that has dragged MKR below its annual lows. The price-performance states a decline of 25% a month and over 42% in a quarter. As per the Santiment, an on-chain analytics provider, the active addresses have dropped to three-month lows indicating a fading participation of the investors. The active address refers to the number of unique users taking part in a transaction within a given timeframe. As per the data, the 24 hour as well as 7 day active addresses have decreased indicating a decreasing user engagement. The open interest curve was on a decline indicating the derivatives traders opting to stay out of the market. Following the development, Maker price which was at $1500 yesterday now has fallen to $1440. This price drop affected the Market value to realized value (MVRV) ratio which is an on-chain metric used to calculate the level of unrealized profits or losses. Within a day, the MVRV ratio has dropped from -12.1% to -15.8%. The decreasing MVRV ratio suggests the widening losses of the traders and investors. Despite the selling pressure, the transaction volume has increased by 46.6% a day to $51.2 Million. Also, the volume to market cap ratio was 4.09% suggesting low volatility in the crypto. Maker Price Forecast: Barish Pressure Mounts From a price action point of view, Maker has been forming lower high pattern over the daily chart indicating a prevailing bearish trend. The bulls seem to be struggling for gains in the recent sessions. Currently, Maker price is expected to resume melting towards the demand. On the lower side, the $1400 may act as a strong psychological support from where a bounce is likely. On the higher side, the 20 day EMA may act as a strong hurdle for the bulls to surpass. For a trend reversal, the bulls need to accumulate prices near the demand followed by a strong breakout. However, it required enough buying volumes to counter the selling ones and exceed them. Additionally, the MACD and signal line were placed below the zero line indicating a bearish pressure. Also, a diverging bearish crossover was observed between both the lines indicating more worse scenario ahead.
CRYPTO:MKRUSDLong
by Ritika_TCR
Will a $13 Million Inflow Propel Maker Price In A BullishWill a $13 Million Inflow Propel Maker Price In A Bullish Territory? The Open Interest data has surged by nearly $13 Million in the last couple of sessions. The 7 day MVRV ratio has improved from -8.41% to -1.19% indicating more investors turning profitable. Interest in Maker (MKR) has started to pick up again as bulls showed their presence near the psychological $1500 level. MKR price restricted going below $1500 and edged towards the $1600 level in the last couple of sessions. At the time of writing, Maker was exchanging hands close to $1578.8 recording a negative intraday development of 1.9%. The tables may turn around and MKR may proceed on the higher side amid the improving investor sentiment. Also, few on-chain metrics have indicated a notable change which could help MKR price recover the losses. Let's analyze what are the factors that could attract investors again in Maker and where could the Maker lead in September. More Investors Turning Profitable As Per MVRV Maker Price has underperformed most of the cryptocurrencies in the previous week, after recording a 5.23% weekly drawdown. The sellers were in complete domination due to which Maker slumped near a psychological $1500 level losing all the annual gains. However, in recent sessions buyers came back near the demand which helped Maker recover to some extent. As per Santiment, an on-chain analytics provider the futures traders have shown interest after Maker slipped to $1500 level. The OI data has jumped from $63 Million to $76 Million today. A 20% jump in the OI data suggests the future traders are optimistic and anticipating Maker price to turn around in the second week of September. Additionally, the MVRV (Mean value to realized value) ratio of 7 days and 30 days curve has improved in the recent sessions. The 7 day MVRV ratio has improved from -8.4% to -1.19% whereas, the 30 day MVRV ratio has jumped form -14.9% to -10.6%. An improvement in the MVRV ratio suggests more users turning profitable. MVRV ratio reflects the average P&L; of the investors who purchased Maker in the last 7 days and 30 days. The price and MVRV ratio are positively correlated i.e. they hover in the same direction. What’s Next: Can Maker Price Recover This Week Or Fail Again? Over the daily chart, Maker has been maintaining a correction phase following a declining parallel channel pattern. The trend control lies in the hands of bears since mid April and Maker has eroded nearly 60% of its value in the period. The recent sessions have observed a significant shift in the on-chain metrics. However, the price has not reacted the same way as per the data. Hence a rebound from the bottom is likely. Also, the second reason for the price rebound is Maker has been continuously getting support from the lower boundary of the channel it has been following for the last four months. Recently, the price has retraced the lower boundary again which may invite buyers at the lower levels. While looking on the higher side, the downside risk can not be ignored in Maker as well. The long term trend outlook is still bearish despite the bulls having taken over the short term control. Now, if Maker slips below the $1500 level, it may again act as an open invitation for the sellers to lead again. The traders and Investors need to have a closer watch over this crucial level.
CRYPTO:MKRUSDLong
by Ritika_TCR
MKR has a dominance of 0.08% and is the 48thMaker (MKR) MKR has a dominance of 0.08% and is the 48th most popular crypto. Recently, it witnessed a decline in price and market cap by 2.90% in the last 24 hours and is now valued at $1.69 Billion. Maker price over daily timeframe showed that the peak of $4075.00 was built in the first quarter of 2024, which displayed humongous gains. Thereon, the MKR price had fallen into a declining channel and has followed it for nearly the next two quarters of 2024. This week, the price has landed critical support, and if it resurges from that level. Then it could propel higher towards the upper border of the wedge.
MLong
by Yash_Jain_1309
1
to accelerate the fall, the bears need to overpowerMaker (MKR) Technical Chart Data? Over the Maker chart on a daily timeframe, it witnessed that the peak of $4075 was built after the bull run in the first quarter of 2024. Thereon, the price had fallen into a wedge and has followed this downward channel for nearly the next two quarters of 2024. If the downtrend persists, then the channel could probably extend more by the end of the third quarter of 2024. However, to accelerate the fall, the bears need to overpower the $1850 level, which has proved sturdies in the long term. Overall, the indicators are depicting bearishness, as 20-day, 50-day, and 200-day EMA are bearish. MACD was also in the bearish territory, and RSI was flashed at 39.02. Therefore, the resistance levels are at $2091, and $2493, respectively. However, in case of further fall, the supports could be present at $1775, and $1567, respectively.
MLong
by Yash_Jain_1309
1
Is $2,500 Next In MKR Price? Before MKR's price recently bounced back to $2,097, the asset price had experienced an approx 40% decline, dropping as low as $1,714. This witnessed a consistent decline in the MKR price over the last few weeks, followed by a lower low swing on the chart. As per the earlier price structure, the continued degradation occurred from the second quarter. Likewise, the following behavior of the Maker has led to the formation of a pattern, precisely the declining channel pattern. Following the most recent price action on the chart, the asset took support from the lower border of the wedge. Depending on the buyer's sentiment, a rally could pop out if further strong bullish candles are formed, followed by a higher high swing. Similarly, the rise could lead towards the upper border of the channel. Likewise, if the MKR price continues to increase and break above the wedge's upper border, we might witness a shift in the price trend towards a bullish trend. Looking at indicators, the price is poised to pierce the EMA bands from below (50-day and 200-day). The histogram has decreased, which signifies a reduction in bear pressure, and a bull cross seems anticipated. Meanwhile, the RSI has been displaying a recovery ongoing from oversold territory, where it recently flashed at 43.08. Therefore, the targets are at $2390 and $2590, followed by the supports at $1880 and $1690.
MLong
by Yash_Jain_1309
Maker Supply On Exchange Drops:Can It Trigger a Rally Beyond $3kMaker Supply On Exchange Drops: Can It Trigger a Rally Beyond $3K The supply on exchanges have dropped by nearly 14% a week indicating a short term supply imbalance. The total number of holders has surged slightly from 100.6K to 100.9K in a week. Maker seems to be taking a pause after registering six consecutive green days on the charts. The recent price rally added nearly 30% to its value rising from $2300 to $3000. Furthermore, the recent price surge validates a breakout of Maker from a correction phase. Moreover, on-chain data highlights decreased supply on the exchanges which may trigger an imbalance in MKR. At the time of writing, Maker was hovering close to $2800 recording a swift intraday decline of 1.51%. The recent sessions have observed a breakout from a strong resistance of $2600 which may now act as a support and the price may resume higher. Maker (MKR) serves as the governance token for MakerDAO and the Maker Protocol. These are a decentralized organization and a software platform, respectively, both built on the Ethereum blockchain. Maker Supply On Exchanges Drops The supply of Maker (MKR) on exchanges has decreased by nearly 14% from its peak of 128.3K on July 9th. This reduction in the token's availability across exchange wallets is generally seen as a bullish indicator for its price, as it lowers the volume of tokens available for sale. As of Today, the supply of Maker on exchanges has dropped to 111 K tokens. The reduced supply may trigger an imbalance in MKR price. According to data from Santiment, the total number of holders have surged from 100.6K to 100.9K in a month. Furthermore, the intraday transaction volume has dropped by 41% to $96.35 Million along with a mild drop in the price. The volume to market cap ratio at 3.76% suggests low volatility. Maker Price Technical Analysis Maker is taking a pause after a strong 30% rally from $2300 to $3000. The most recent support lies near the $2670 which was the previous resistance. Now, if the bulls are able to maintain the price above the $2670 level then it could resume further gains beyond the $3000 level. From a technical standpoint, MKR price now hovers comfortably above the key exponential moving averages of 20, 50 and 200 days suggesting a positive outlook in the short term as well as long term. The key EMAs may act as a dynamic support for MKR price and the price may bounce back. At the time of writing, MACD lines as well as signal lines had crossed above the zero line indicating a short term bullish continuation. Can Maker Surpass the $3000 level? Maker (MKR) recently surged nearly 30% breaking out of a correction phase. Currently, it was hovering around $2800 after a 1.51% intraday decline. Moreover, On-chain data shows a 14% drop in MKR supply on exchanges, now at 111K tokens. The drop in the supply may turn out to be a bullish scenario for Maker and price may surpass $3000. Furthermore, The number of holders increased from 100.6K to 100.9K. From a technical outlook, MKR hovers above key EMAs (20, 50, 200 days), suggesting a positive outlook. The technical indicators MACD lines indicate short-term bullish continuation
CRYPTO:MKRUSDLong
by Ritika_TCR
highlighted strong bullish momentum.In the last 5 days, the Maker (MKR) was in a bullish spell, which showed a nearly 18% surge on the daily. It highlighted strong bullish momentum. On a daily time frame, the Maker crypto price appears to have formed a falling wedge pattern and is approaching a key level for a breakout to prevail by surpassing the upper trendline. Suppose the MKR triggers a breakout from the falling wedge pattern, then it could aim to recapture lost territories, with resistance at $2850 and $3250. However, if MKR falls below the $2098.29 mark, bears could target the $1850 and $1650 marks. MKR trades near the dynamic resistance bands of 200-day and 50-day EMA. Meanwhile, the RSI flashed at 50.56, which has taken a jump from 14-SMA at 46.97, and MACD shows a growing histogram at 8.32, with a bullish cross. Overall, the technical indicators are signaling the anticipation of a massive move coming in the MKR future sessions.
MLong
by Yash_Jain_1309
the price has been displaying optimism at higher levelFueled by nearly 18% in the last 72 hours, Maker (MKR) highlighted strong bullish momentum. Ranked 39th on Coinamrketcap, this crypto has a $2.325 Billion market cap and $112.133 Million 24-hour trading volume. The volume has witnessed a 34.41% surge, and the market cap surged 6.71%. The Volume-to-market cap ratio signifies moderate liquidity, and its 92.35% circulation is out in the market from the total supply of 977,666 MKR. The MKR trades above the long-term 200-day EMA and approaches the 50-day EMA to cut from below and propel upwards. Meanwhile, the RSI flashed at 53.10, which has taken a jump from 14-SMA, and MACD shows a growing histogram at 28.17, with a bullish cross. Overall the technical indicators are pointing towards the anticipation of a massive move coming in the future sessions. As per the Maker (MKR) price structure on daily, the price rose more than 200% abruptly from December 20th, 2023, to March 31st, 2024, from $1200 to $4087, respectively. However, the trend was violated due to the bears' dominance increasing, which led the MKR price to deteriorate in a falling wedge. After falling, the range narrowed and dropped to form a support at $2098 by June 24th, 2024. In the last few days, the price has been displaying optimism at higher levels, and the price looks very close to breaking out of the falling wedge. Therefore, if the price manages to break out of the wedge, then the price could propel and capture lost territories back, and resistance would be $2800 and $3100. However, if the Maker (MKR) fails below the $2098 price mark, then bears could eye for $1800 and $1600.
MLong
by Yash_Jain_1309
Maker Retreats After A Breakout: More Correction In The Loop?Maker Retreats After A Breakout: More Correction In The Loop? Maker Price has suffered a four-day decline, shedding 13% of its market value and relinquishing the majority of its post-breakout gains. A surge in social dominance suggests Maker's escalating influence and acceptance within the user community. Maker price has been facing a strong selling pressure for the last few sessions and has wiped over 13% of its market value. The broader market witnessed a sell the news impact amid the successful approval of the Ether ETFs which widened the losses. At the time of writing, Maker was exchanging hands close to $2727 after witnessing a sharp fall of four consecutive losses. Moreover, the social metrics like social dominance and social volume are on the rise which may help the crypto heal the recent losses. Let's analyze all the points and try to construct a comprehensive forecast for Maker's future market trajectory. Increased Social Metrics Could Attract Volume Inflow Data from the financial analytics platform indicates a rising trajectory for both social dominance and social volume metrics, signaling a growing fascination with the cryptocurrency among enthusiasts. These metrics gauge the extent of discussion, appreciation, and pursuit of the cryptocurrency within its community, reflecting its popularity, activity level, and demand. Typically, an uptick in social engagement can lead to an increase in trading volume, which may positively influence the cryptocurrency's price. Analysis of trading volume reveals that the day's inflow was $107.68 million, marking a 10.96% decrease from the previous day. Meanwhile, the volume-to-market cap ratio stood at 4.2%, indicative of relatively low volatility in the market. Can Maker Stage A Comeback? From a technical point of view, the price is approaching the former trendline resistance, which could now serve as a support to halt further declines. Despite recent sharp drops, the breakout has not been conclusively negated.yet the sharp fall in the last few sessions scares the investors about a possible breakdown. On the lower side, the $2600 mark is purported to be robust support. Should the bulls manage to hold this level and propel the price above $2950, it could signal the end of the retracement, potentially leading the price to ascend towards the $3200 and $3500 milestones. Conversely, if bearish momentum persists and the price slips below $2600, this could be interpreted as a breakout failure, potentially sending the price down to test the support levels at $2500 and $2300. Conclusion. Maker crypto has plunged by 13% due to strong selling pressure, exacerbated by a 'sell the news' effect after Ether ETFs' approval. At the time of writing, MKR was trading near $2727. The social metrics are rising, hinting at a recovery. Trading volume has dropped 10.96% to $107.68 million, with a low volatility indicator of 4.2% volume-to-market cap ratio. From a technical outlook, Maker is nearing a support level that could prevent further losses. on the lower side, if it holds above $2600 and breaks past $2950, then it could rise towards the higher levels of $3200 and $3500. Otherwise, falling below $2600 may lead to further declines towards $2500 and $2300.
MLong
by Ritika_TCR
1
the bullish pattern made in MKRThe 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.
MLong
by Yash_Jain_1309
MKRUSD Coinbase - Looking for EntryHere we have a coin that is still holding above the 200 day EMA though it had a few day dip below. The EMA trend is horizontal and the current price trend is down, and the volume and strength are slowing but we have a decent channel possibly forming. The candles show a possible reversal happening but this downtrend could continue a few days, but if the channel holds and if the price stays above the EMA we could have a good entry point. If I see a buy signal from the Supertrend I will look to enter. If the channel fails then I predict this coin will fall into an overall downtrend like most have the past month.
M
by UnknownUnicorn2091450