Is Maker (MKR) Heading the Right Direction Sunday?

Sunday, August 28, 2022 06:51 AM | InvestorsObserver Analysts

Maker receives a weak long-term technical score of 23 from InvestorsObserver analysis. Our proprietary scoring system considers the trading patterns over the past several months to a year by analyzing the token's consistency, volatility, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. Currently, MKR holds a superior long-term technical analysis score than 23% of crytpocurrencies. Long-term investors employing a buy-and-hold strategy will find the Long-Term Rank especially relevant when allocating their assets and may find additional value finding cyptos with a high short-term technical score to discover tokens that have bottomed out.

InvestorsObserver is giving Maker a 23 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Maker!

See Full Report

Trading Analysis

Maker's price is -$250.5300000 (-24.63%) below its 100-day moving average price of $1,017.000000000 as its price at the moment sits at $766.460000000. Additionally, MKR is $103.4600000 (113.95%) higher than its 52-week low price of $663.000000000 while -$3,013.92000000 (20.01%) under its 52-week high of $3,780.380000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives MKR an average long-term technical score of 23. Long-term trading movement of Maker suggest that investors are bearish on the token at the moment. Maker has a total market value of $749,316,632.08 with an average average daily volume of $1,490,958,869.93 worth of the currency exchanged over a typical 24 hour period. As of the past 24 hours, MKR's volume is below its average with $111,888,879.27 exchanged in total. This token's subclass Decentralized Finance: DeFi, or decentrialized finance, Tokens are tokens that are created as an alternative to traditional financial institutions. These tokens are designed to alleviate the needs for brokers, exchanges, and/or banks by offering traditional financial products or services without the need for a central authority through the use of smart contracts.

Summary

Trading patterns over the last year for Maker leads to the token's a weak long-term technical score of 23 as its consistency, volatility, and relation to long-term averages has given investors reason to be bearish on the token. Click Here to get the full Report on Maker (MKR).