Maker Price Analysis – June 29
The Maker price slips to $895 as the coin moves to create a new low below the 21-day moving average.
MKR/USD Market
Key Levels:
Resistance levels: $1500, $1600, $1700
Support levels: $500, $400, $300
MKR/USD is experiencing a severe fall beneath the long-term support at $940, which is now, subject to the price actions below the 9-day moving average. At the time of writing, the coin is losing momentum towards the lower boundary of the channel along with a potential price surge.
Maker Price Analysis: MKR Price May Suffer More
The Maker price remains within the 9-day and 21-day moving averages and if the coin decides to stay under the control of bears, the market price could drop to the nearest supports at $500, $400, and $300. Meanwhile, on the upside, the bulls need to push the price above the upper boundary of the channel; crossing above this barrier may push the coin towards the resistance levels of $1500, $1600, and $1700. More so, the technical indicator Relative Strength Index (14) is now moving below the 50-level, indicating additional bearish signals in the market.
MKR/BTC Market: Price Could Move to the Downside
When compared with Bitcoin, the Maker price is seen crossing below the 9-day moving average within the channel. The coin is also moving towards the downside. Meanwhile, should the price head to the south, it may likely touch the nearest support level of 3500 SAT and below.
However, if the bulls could push the market price above the upper boundary of the channel, Maker (MKR) may reach the resistance level of 6000 SAT and above. Meanwhile, the technical indicator Relative Strength Index (14) confirms that the market may face the downside as the signal line moves to cross below the 60-level.
