MAKER - MKR/USD

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Type:	Cryptocurrencies
Ticker:	MKRUSD
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MAKER - MKR/USD - 1H - Technical analysis published on 12/21/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Neutral

Underlying: Bearish

Technical indicators

17%

56%

28%

My opinion

Bearish under 1,704.20 USD

My targets

1,639.53 USD (-1.96%)

1,554.46 USD (-7.04%)

My analysis

Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 1,704.20 USD remains possible. It is advisable to trade MAKER - MKR/USD with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 1,704.20 USD. The next bearish objective for sellers is set at 1,639.53 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1,554.46 USD. In case of crossing, the next objective would be the support located at 1,490.36 USD. PS: if there is a bullish break in the resistance located at 1,704.20 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.

In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.

Force

4.8

Comment on the analysis

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

MAKER - MKR/USD rating 1,672.25 USD. The price is lower by -1.32% since the last closing and was between 1,667.27 USD and 1,743.33 USD. This implies that the price is at +0.30% from its lowest and at -4.08% from its highest.

1,667.27

1,743.33

1,672.25

The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bullish opening

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by MAKER - MKR/USD:

The Central Records scanner for higher/lower results shows an item:

New HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of MAKER - MKR/USD in 1H shows an overall bearish trend. 75.00% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. An assessment of moving averages reveals several bearish signals that could impact this trend:

Bearish trend reversal : adaptative moving average 20

Type : Bearish

Timeframe : 1 hour

Bearish trend reversal : adaptative moving average 50

Type : Bearish

Timeframe : 1 hour

In fact, 10 technical indicators on 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

RSI indicator is back over 50

Type : Bullish

Timeframe : 1 hour

MACD crosses DOWN its Moving Average

Type : Bearish

Timeframe : 1 hour

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:

Bullish harami cross

Type : Bullish

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	1,490.36	1,554.46	1,639.53	1,672.25	1,704.20	1,894.31	2,076.03
Change (%)	-10.88%	-7.04%	-1.96%	-	+1.91%	+13.28%	+24.15%
Change	-181.89	-117.79	-32.72	-	+31.95	+222.06	+403.78
Level	Intermediate	Major	Minor	-	Intermediate	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	1,313.99	1,402.18	1,548.40	1,636.59	1,782.81	1,871.00	2,017.22
Camarilla	1,630.17	1,651.66	1,673.14	1,694.63	1,716.12	1,737.61	1,759.09
Woodie	1,343.02	1,416.69	1,577.43	1,651.10	1,811.84	1,885.51	2,046.25
Fibonacci	1,402.18	1,491.72	1,547.04	1,636.59	1,726.13	1,781.45	1,871.00

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,071.47	1,361.99	1,646.22	1,936.74	2,220.97	2,511.49	2,795.72
Camarilla	1,772.40	1,825.09	1,877.78	1,930.46	1,983.15	2,035.83	2,088.52
Woodie	1,068.34	1,360.42	1,643.09	1,935.17	2,217.84	2,509.92	2,792.59
Fibonacci	1,361.99	1,581.54	1,717.18	1,936.74	2,156.29	2,291.93	2,511.49

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	332.09	719.93	1,289.92	1,677.76	2,247.75	2,635.59	3,205.58
Camarilla	1,596.52	1,684.32	1,772.12	1,859.92	1,947.72	2,035.52	2,123.32
Woodie	423.18	765.47	1,381.01	1,723.30	2,338.84	2,681.13	3,296.67
Fibonacci	719.93	1,085.82	1,311.87	1,677.76	2,043.65	2,269.70	2,635.59

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):	50.16
MACD (12,26,9):	10.7700
Directional Movement:	-0.73
AROON (14):	71.43
DEMA (21):	1,697.92
Parabolic SAR (0,02-0,02-0,2):	1,740.52
Elder Ray (13):	-9.89
Super Trend (3,10):	1,644.46
Zig ZAG (10):	1,679.82
VORTEX (21):	1.1900
Stochastique (14,3,5):	16.23
TEMA (21):	1,708.84
Williams %R (14):	-87.04
Chande Momentum Oscillator (20):	-11.27
Repulse (5,40,3):	-1.5800
ROCnROLL:	2
TRIX (15,9):	0.1100
Courbe Coppock:	2.50

MA7:	1,771.98
MA20:	1,962.99
MA50:	1,712.21
MA100:	1,553.09
MAexp7:	1,693.20
MAexp20:	1,683.74
MAexp50:	1,682.89
MAexp100:	1,722.15
Price / MA7:	-5.63%
Price / MA20:	-14.81%
Price / MA50:	-2.33%
Price / MA100:	+7.67%
Price / MAexp7:	-1.24%
Price / MAexp20:	-0.68%
Price / MAexp50:	-0.63%
Price / MAexp100:	-2.90%

Quotes : - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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Londinia AI

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