MAKER - MKR/USDT - Daily - Technical analysis published on 10/19/2024 (GMT)
- 119
- 0
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
61%
17%
My opinion
Bearish under 1,286.68 USDT
My targets
1,065.34 USDT (-11.80%)
603.99 USDT (-50.00%)
My analysis
MAKER - MKR/USDT is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 1,286.68 USDT. The next support located at 1,065.34 USDT is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 603.99 USDT. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
7.3
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by waqassharif. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
MAKER - MKR/USDT rating 1,207.88 USDT. The price has increased by +0.24% since the last closing and was traded between 1,204.90 USDT and 1,208.60 USDT over the period. The price is currently at +0.25% from its lowest and -0.06% from its highest.1,204.90
1,208.60
1,207.88
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of MAKER - MKR/USDT in Daily shows a overall strongly bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
On the 18 technical indicators analysed, 4 are bullish, 3 are neutral and 11 are bearish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : Daily
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 2
Type : Neutral
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S1
R1
R2
R3
Price
| S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|
| ProTrendLines | 603.99 | 1,207.88 | 1,286.68 | 1,552.66 | 2,133.06 |
| Change (%) | -50.00% | - | +6.52% | +28.54% | +76.60% |
| Change | -603.89 | - | +78.80 | +344.78 | +925.18 |
| Level | Minor | - | Major | Intermediate | Minor |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,161.95 | 1,176.19 | 1,190.60 | 1,204.84 | 1,219.25 | 1,233.49 | 1,247.90 |
| Camarilla | 1,197.14 | 1,199.77 | 1,202.39 | 1,205.02 | 1,207.65 | 1,210.27 | 1,212.90 |
| Woodie | 1,162.05 | 1,176.23 | 1,190.70 | 1,204.88 | 1,219.35 | 1,233.53 | 1,248.00 |
| Fibonacci | 1,176.19 | 1,187.13 | 1,193.89 | 1,204.84 | 1,215.78 | 1,222.54 | 1,233.49 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,109.90 | 1,215.59 | 1,285.79 | 1,391.48 | 1,461.68 | 1,567.37 | 1,637.57 |
| Camarilla | 1,307.63 | 1,323.75 | 1,339.88 | 1,356.00 | 1,372.12 | 1,388.25 | 1,404.37 |
| Woodie | 1,092.17 | 1,206.72 | 1,268.06 | 1,382.61 | 1,443.95 | 1,558.50 | 1,619.84 |
| Fibonacci | 1,215.59 | 1,282.78 | 1,324.29 | 1,391.48 | 1,458.67 | 1,500.18 | 1,567.37 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,065.34 | 1,249.26 | 1,409.59 | 1,593.51 | 1,753.84 | 1,937.76 | 2,098.09 |
| Camarilla | 1,475.26 | 1,506.82 | 1,538.37 | 1,569.93 | 1,601.49 | 1,633.04 | 1,664.60 |
| Woodie | 1,053.56 | 1,243.36 | 1,397.81 | 1,587.61 | 1,742.06 | 1,931.86 | 2,086.31 |
| Fibonacci | 1,249.26 | 1,380.76 | 1,462.00 | 1,593.51 | 1,725.01 | 1,806.25 | 1,937.76 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 26.91 | |
| MACD (12,26,9): | -92.2100 | |
| Directional Movement: | -18.52 | |
| AROON (14): | -71.42 | |
| DEMA (21): | 1,244.77 | |
| Parabolic SAR (0,02-0,02-0,2): | 1,350.15 | |
| Elder Ray (13): | -111.21 | |
| Super Trend (3,10): | 1,396.41 | |
| Zig ZAG (10): | 1,204.93 | |
| VORTEX (21): | 0.6700 | |
| Stochastique (14,3,5): | 4.81 | |
| TEMA (21): | 1,226.17 | |
| Williams %R (14): | -94.82 | |
| Chande Momentum Oscillator (20): | -197.84 | |
| Repulse (5,40,3): | -6.1800 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.7500 | |
| Courbe Coppock: | 27.67 |
| MA7: | 1,277.78 | |
| MA20: | 1,396.92 | |
| MA50: | 1,524.77 | |
| MA100: | 1,932.14 | |
| MAexp7: | 1,263.37 | |
| MAexp20: | 1,381.50 | |
| MAexp50: | 1,559.20 | |
| MAexp100: | 1,812.11 | |
| Price / MA7: | -5.47% | |
| Price / MA20: | -13.53% | |
| Price / MA50: | -20.78% | |
| Price / MA100: | -37.48% | |
| Price / MAexp7: | -4.39% | |
| Price / MAexp20: | -12.57% | |
| Price / MAexp50: | -22.53% | |
| Price / MAexp100: | -33.34% |
Quotes :
-
Real time data
-
Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis MAKER - MKR/USDT - Daily