Maker (MKR): How Does the Chart Look Monday?

Monday, August 01, 2022 05:11 PM | InvestorsObserver Analysts

InvestorsObserver gives Maker a strong long-term technical score of 72 from its research. The proprietary scoring system take into account the historical trading patterns from recent months to a year of the token's support and resistance levels, in addition to where it is relative to long-term averages. The analysis helps to determine whether it's a strong buy-and-hold investment opportunity currently for traders. MKR at this time has a superior long-term technical analysis score than 72% of crytpos in circulation. The Long-Term Rank will be most relevant to buy-and-hold type investors who are looking for strong steady growth when allocating their assets. Combining a high long and short-term technical score will also help portfolio managers discover tokens that have bottomed out.

InvestorsObserver is giving Maker a 72 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 -$84.5900000 (-7.36%) below its 100-day moving average price of $1,149.170000000 with its current price of $1,064.580000000. Meanwhile, Maker is $401.5900000 (158.91%) above its 52-week low price of $663.000000000 and -$2,941.58000000 (26.32%) below its 52-week high of $4,006.170000000. The current price relative to its moving average and 52-week high and low leads to a strong long-term technical score of 72. Trends for the long-term trading history of Maker suggest that traders are currently neutral on the token. Maker currently has a total market cap of $1,040,770,855.27 to go along with its average daily volume of $1,027,246,389.62 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 260,438,842.26 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 a strong long-term technical score of 72 as its consistency, volatility, and relation to long-term averages has given investors reason to be neutral on the token. Click Here to get the full Report on Maker (MKR).