Is Maker (MKR) Trending Lower or Higher Friday?

Friday, September 02, 2022 08:22 AM | InvestorsObserver Analysts

Maker receives an average long-term technical score of 40 from InvestorsObserver's research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the token's support and resistance levels, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. MKR currently holds a superior long-term technical analysis score than 40% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. tokens with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to 'buy the dip'.

InvestorsObserver is giving Maker a 40 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Maker!

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Trading Analysis

MKR is currently -$229.8200000 (-23.31%) below its 100-day moving average price of $986.120000000 with its current price of $756.300000000. Meanwhile, Maker is $93.3000000 (112.41%) above its 52-week low price of $663.000000000 and -$2,994.23000000 (19.90%) below its 52-week high of $3,750.520000000. The current price relative to its moving average and 52-week high and low leads to an average long-term technical score of 40. Trends for the long-term trading history of Maker suggest that traders are currently bearish on the token. Maker currently has a total market cap of $739,380,555.64 to go along with its average daily volume of $819,467,033.03 worth of the currency over the past seven days. MKR's volume is below its seven day average as of the past 24 hours, with 124,544,726.58 exchanged in that period. 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 an average long-term technical score of 40 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).