MAKER - MKR/USD - 1H - Technical analysis published on 12/29/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
44%
11%
44%
My opinion
Bullish above 1,490.36 USD
My targets
1,581.72 USD (+1.71%)
1,656.59 USD (+6.52%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on MAKER - MKR/USD. As long as you are above the support located at 1,490.36 USD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 1,581.72 USD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 1,656.59 USD as an objective. Crossing it would then enable buyers to target 2,220.80 USD. If the support 1,490.36 USD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
3.9
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 Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The MAKER - MKR/USD price is 1,555.19 USD. The price registered a decrease of -0.58% on the session and was traded between 1,512.26 USD and 1,600.73 USD over the period. The price is currently at +2.84% from its lowest and -2.84% from its highest.1,512.26
1,600.73
1,555.19
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of MAKER - MKR/USD in 1H shows an overall bullish trend. The signals given by moving averages are 71.43% bullish. This bullish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
Technical indicators are slightly bullish. There is therefore considerable uncertainty about the continuation of the increase.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1,322.15 | 1,366.00 | 1,399.61 | 1,555.19 | 1,564.46 | 1,656.59 | 2,220.80 |
| Change (%) | -14.98% | -12.17% | -10.00% | - | +0.60% | +6.52% | +42.80% |
| Change | -233.04 | -189.19 | -155.58 | - | +9.27 | +101.40 | +665.61 |
| Level | Minor | Intermediate | Major | - | Major | Intermediate | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,381.45 | 1,454.95 | 1,509.58 | 1,583.08 | 1,637.71 | 1,711.21 | 1,765.84 |
| Camarilla | 1,528.96 | 1,540.71 | 1,552.46 | 1,564.20 | 1,575.95 | 1,587.69 | 1,599.44 |
| Woodie | 1,372.01 | 1,450.23 | 1,500.14 | 1,578.36 | 1,628.27 | 1,706.49 | 1,756.40 |
| Fibonacci | 1,454.95 | 1,503.90 | 1,534.14 | 1,583.08 | 1,632.03 | 1,662.27 | 1,711.21 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,149.60 | 1,202.28 | 1,293.64 | 1,346.32 | 1,437.68 | 1,490.36 | 1,581.72 |
| Camarilla | 1,345.39 | 1,358.59 | 1,371.80 | 1,385.00 | 1,398.20 | 1,411.41 | 1,424.61 |
| Woodie | 1,168.94 | 1,211.95 | 1,312.98 | 1,355.99 | 1,457.02 | 1,500.03 | 1,601.06 |
| Fibonacci | 1,202.28 | 1,257.30 | 1,291.30 | 1,346.32 | 1,401.34 | 1,435.34 | 1,490.36 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,028.67 | 1,139.33 | 1,334.27 | 1,444.93 | 1,639.87 | 1,750.53 | 1,945.47 |
| Camarilla | 1,445.16 | 1,473.17 | 1,501.19 | 1,529.20 | 1,557.21 | 1,585.23 | 1,613.24 |
| Woodie | 1,070.80 | 1,160.40 | 1,376.40 | 1,466.00 | 1,682.00 | 1,771.60 | 1,987.60 |
| Fibonacci | 1,139.33 | 1,256.07 | 1,328.19 | 1,444.93 | 1,561.67 | 1,633.79 | 1,750.53 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 49.69 | |
| MACD (12,26,9): | -1.2000 | |
| Directional Movement: | 4.03 | |
| AROON (14): | -21.43 | |
| DEMA (21): | 1,554.68 | |
| Parabolic SAR (0,02-0,02-0,2): | 1,513.60 | |
| Elder Ray (13): | -2.61 | |
| Super Trend (3,10): | 1,595.83 | |
| Zig ZAG (10): | 1,555.31 | |
| VORTEX (21): | 1.0100 | |
| Stochastique (14,3,5): | 53.06 | |
| TEMA (21): | 1,549.91 | |
| Williams %R (14): | -51.05 | |
| Chande Momentum Oscillator (20): | -15.88 | |
| Repulse (5,40,3): | 0.1600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 0.48 |
| MA7: | 1,463.77 | |
| MA20: | 1,382.08 | |
| MA50: | 1,413.19 | |
| MA100: | 1,407.01 | |
| MAexp7: | 1,556.02 | |
| MAexp20: | 1,556.13 | |
| MAexp50: | 1,547.18 | |
| MAexp100: | 1,513.31 | |
| Price / MA7: | +6.25% | |
| Price / MA20: | +12.53% | |
| Price / MA50: | +10.05% | |
| Price / MA100: | +10.53% | |
| Price / MAexp7: | -0.05% | |
| Price / MAexp20: | -0.06% | |
| Price / MAexp50: | +0.52% | |
| Price / MAexp100: | +2.77% |
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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