MAKER - MKR/USD - 1H - Technical analysis published on 03/19/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
39%
28%
33%
My opinion
Bearish under 730.82 USD
My targets
666.03 USD (-3.70%)
635.79 USD (-8.07%)
My analysis
The bearish basic trend is very strong on MAKER - MKR/USD but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 730.82 USD. Crossing the first support at 666.03 USD would be a sign of a further potential price plummet. Sellers would then use the next support located at 635.79 USD as an objective. Crossing it would then enable sellers to target 600.02 USD. Caution, a return to above the resistance located at 730.82 USD would be a sign of a possible consolidation phase of the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
5
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The MAKER - MKR/USD price is 691.61 USD. On the day, this instrument lost -0.12% and was traded between 684.74 USD and 716.99 USD over the period. The price is currently at +1.00% from its lowest and -3.54% from its highest.684.74
716.99
691.61
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this 1H chart of MAKER - MKR/USD indicates that the overall trend is strongly bearish. 89.29% of the signals given by moving averages are bearish. This strongly bearish trend is showing signs of slowing down given the slightly bearish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Other results related to technical indicators were also found by the Central Indicators scanner:
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 498.28 | 600.02 | 635.79 | 691.61 | 694.67 | 730.82 | 789.29 |
| Change (%) | -27.95% | -13.24% | -8.07% | - | +0.44% | +5.67% | +14.12% |
| Change | -193.33 | -91.59 | -55.82 | - | +3.06 | +39.21 | +97.68 |
| Level | Major | Minor | Major | - | Major | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 589.59 | 634.34 | 663.40 | 708.15 | 737.21 | 781.96 | 811.02 |
| Camarilla | 672.16 | 678.93 | 685.69 | 692.46 | 699.23 | 705.99 | 712.76 |
| Woodie | 581.75 | 630.42 | 655.56 | 704.23 | 729.37 | 778.04 | 803.18 |
| Fibonacci | 634.34 | 662.54 | 679.96 | 708.15 | 736.35 | 753.77 | 781.96 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 223.38 | 444.14 | 568.30 | 789.06 | 913.22 | 1,133.98 | 1,258.14 |
| Camarilla | 597.61 | 629.23 | 660.84 | 692.46 | 724.08 | 755.70 | 787.31 |
| Woodie | 175.08 | 419.99 | 520.00 | 764.91 | 864.92 | 1,109.83 | 1,209.84 |
| Fibonacci | 444.14 | 575.90 | 657.30 | 789.06 | 920.82 | 1,002.22 | 1,133.98 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 470.70 | 546.59 | 666.03 | 741.92 | 861.36 | 937.25 | 1,056.69 |
| Camarilla | 731.74 | 749.65 | 767.56 | 785.46 | 803.37 | 821.27 | 839.18 |
| Woodie | 492.47 | 557.48 | 687.80 | 752.81 | 883.13 | 948.14 | 1,078.46 |
| Fibonacci | 546.59 | 621.21 | 667.31 | 741.92 | 816.54 | 862.64 | 937.25 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 45.26 | |
| MACD (12,26,9): | -2.1700 | |
| Directional Movement: | -4.43 | |
| AROON (14): | -35.71 | |
| DEMA (21): | 697.22 | |
| Parabolic SAR (0,02-0,02-0,2): | 684.09 | |
| Elder Ray (13): | -4.26 | |
| Super Trend (3,10): | 744.16 | |
| Zig ZAG (10): | 697.73 | |
| VORTEX (21): | 0.9800 | |
| Stochastique (14,3,5): | 46.37 | |
| TEMA (21): | 700.06 | |
| Williams %R (14): | -70.83 | |
| Chande Momentum Oscillator (20): | 4.75 | |
| Repulse (5,40,3): | 2.0600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0600 | |
| Courbe Coppock: | 0.82 |
| MA7: | 765.38 | |
| MA20: | 829.53 | |
| MA50: | 765.62 | |
| MA100: | 682.16 | |
| MAexp7: | 702.50 | |
| MAexp20: | 702.17 | |
| MAexp50: | 710.63 | |
| MAexp100: | 729.41 | |
| Price / MA7: | -9.64% | |
| Price / MA20: | -16.63% | |
| Price / MA50: | -9.67% | |
| Price / MA100: | +1.39% | |
| Price / MAexp7: | -1.55% | |
| Price / MAexp20: | -1.50% | |
| Price / MAexp50: | -2.68% | |
| Price / MAexp100: | -5.18% |
Quotes :
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Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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…
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