MAKER - MKR/USD - 1H - Technical analysis published on 05/08/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 2,847.86 USD
My targets
2,698.09 USD (-3.78%)
2,634.56 USD (-6.05%)
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 2,847.86 USD. Crossing the first support at 2,698.09 USD would be a sign of a further potential price plummet. Sellers would then use the next support located at 2,634.56 USD as an objective. Crossing it would then enable sellers to target 2,548.82 USD. Caution, a return to above the resistance located at 2,847.86 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.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
6.8
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
MAKER - MKR/USD rating 2,804.16 USD. On the day, this instrument lost -0.03% and was traded between 2,780.35 USD and 2,823.38 USD over the period. The price is currently at +0.86% from its lowest and -0.68% from its highest.2,780.35
2,823.38
2,804.16
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by MAKER - MKR/USD:
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. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The probability of a further decline is moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 2,634.56 | 2,698.09 | 2,795.47 | 2,804.16 | 2,847.86 | 2,898.15 | 2,933.69 |
| Change (%) | -6.05% | -3.78% | -0.31% | - | +1.56% | +3.35% | +4.62% |
| Change | -169.60 | -106.07 | -8.69 | - | +43.70 | +93.99 | +129.53 |
| Level | Minor | Intermediate | Major | - | Intermediate | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2,669.04 | 2,717.90 | 2,761.51 | 2,810.37 | 2,853.98 | 2,902.84 | 2,946.45 |
| Camarilla | 2,779.68 | 2,788.16 | 2,796.63 | 2,805.11 | 2,813.59 | 2,822.06 | 2,830.54 |
| Woodie | 2,666.41 | 2,716.59 | 2,758.88 | 2,809.06 | 2,851.35 | 2,901.53 | 2,943.82 |
| Fibonacci | 2,717.90 | 2,753.23 | 2,775.05 | 2,810.37 | 2,845.70 | 2,867.52 | 2,902.84 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,962.66 | 2,255.74 | 2,563.86 | 2,856.94 | 3,165.06 | 3,458.14 | 3,766.26 |
| Camarilla | 2,706.65 | 2,761.76 | 2,816.87 | 2,871.98 | 2,927.09 | 2,982.20 | 3,037.31 |
| Woodie | 1,970.18 | 2,259.50 | 2,571.38 | 2,860.70 | 3,172.58 | 3,461.90 | 3,773.78 |
| Fibonacci | 2,255.74 | 2,485.40 | 2,627.28 | 2,856.94 | 3,086.60 | 3,228.48 | 3,458.14 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 461.12 | 1,465.54 | 2,064.45 | 3,068.87 | 3,667.78 | 4,672.20 | 5,271.11 |
| Camarilla | 2,222.43 | 2,369.41 | 2,516.38 | 2,663.35 | 2,810.32 | 2,957.29 | 3,104.27 |
| Woodie | 258.36 | 1,364.16 | 1,861.69 | 2,967.49 | 3,465.02 | 4,570.82 | 5,068.35 |
| Fibonacci | 1,465.54 | 2,078.02 | 2,456.40 | 3,068.87 | 3,681.35 | 4,059.73 | 4,672.20 |
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): | 42.51 | |
| MACD (12,26,9): | -5.6700 | |
| Directional Movement: | -3.63 | |
| AROON (14): | -57.14 | |
| DEMA (21): | 2,815.40 | |
| Parabolic SAR (0,02-0,02-0,2): | 2,856.45 | |
| Elder Ray (13): | -17.32 | |
| Super Trend (3,10): | 2,867.09 | |
| Zig ZAG (10): | 2,802.24 | |
| VORTEX (21): | 1.0200 | |
| Stochastique (14,3,5): | 22.79 | |
| TEMA (21): | 2,819.46 | |
| Williams %R (14): | -76.23 | |
| Chande Momentum Oscillator (20): | -20.98 | |
| Repulse (5,40,3): | -0.0300 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 0.46 |
| MA7: | 2,841.81 | |
| MA20: | 2,884.28 | |
| MA50: | 3,192.10 | |
| MA100: | 2,707.93 | |
| MAexp7: | 2,816.25 | |
| MAexp20: | 2,825.06 | |
| MAexp50: | 2,839.23 | |
| MAexp100: | 2,847.85 | |
| Price / MA7: | -1.32% | |
| Price / MA20: | -2.78% | |
| Price / MA50: | -12.15% | |
| Price / MA100: | +3.55% | |
| Price / MAexp7: | -0.43% | |
| Price / MAexp20: | -0.74% | |
| Price / MAexp50: | -1.24% | |
| Price / MAexp100: | -1.53% |
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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