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

Wednesday, August 17, 2022 07:20 AM | InvestorsObserver Analysts

Maker receives a weak long-term technical score of 18 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 18% 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 18 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 -$89.5100000 (-8.33%) below its 100-day moving average price of $1,073.920000000 with its current price of $984.410000000. Meanwhile, Maker is $321.4100000 (146.82%) above its 52-week low price of $663.000000000 and -$3,021.76000000 (24.32%) 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 an average long-term technical score of 18. Trends for the long-term trading history of Maker suggest that traders are currently bearish on the token. Maker has a total market value of $962,391,353.63 with an average average daily volume of $1,322,271,098.03 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 $243,068,923.24 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

MKR's historical trading over the past year gives it a a weak long-term technical score of 18 as its price movement in that time has given investors reason to be bearish on the token in the long-term. Click Here to get the full Report on Maker (MKR).