Maker (MKR) is the governance token of the MakerDAO and Maker Protocol, a decentralized organization and a software platform, respectively, both based on the Ethereum blockchain — that allows users to issue and manage the DAI stablecoin. Price Movement The current price of MKR is $2194 and it has increased so since the start of March 1, 2021. It started the day with $1881 – a vertical drop from $2000+ levels since February. Though it has increased by 50% since mid-January. It has been trading the day between $2222 and $2243. https://ift.tt/3uEW6QG Technicals for the Day-Ahead and Tomorrow The OBV indicator is sloping within the regular trend line. Thus, the interest in volumes is coming down, and a selling pressure increase is indicated. While the price is a little high currently, it is a good time to book your profits as the prices can then turn towards a pullback. The MACD and signal lines are positive. The bearish crossover by the MACD line over the signal line indicates a temporary price pullback. Thus, the price is likely to go up with intermittent price pullbacks. The RSI indicator is at 72%. This is in the ‘overbought’ region above the 70% mark. Thus, it is a good time for swing traders to go short. Since buying pressures are still high, we can expect the price to rise further. It is showing a pullback in prices is about to be reached. MKR Price Analysis Currently, the price has broken out of the second Fibonacci pivot support level of $2039. It is important to note these levels as the price is critical to watch for swing traders in the next few hours. The next level to watch is $1940. The third support is about $1832. While the price is increasing right now, the resistance levels to keep a track of are $2222 at (10-EMA and 20-EMA) along with $2390(61.8% Retracement). It is important to watch the price in the next 4-hour window.
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