Maker Cryptocurrency Forecast

Maker cryptocurrency upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)

MKRUSD Signals & Forecast

There are mixed signals in the cryptocurrency today. The Maker cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $2,864.75. On a fall, the cryptocurrency will find some support from the short-term average at $2,745.74. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -26.31%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Maker cryptocurrency

Maker finds support from accumulated volume at $2,745.76 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $128.30 between high and low, or 4.82%. For the last week, the cryptocurrency has had daily average volatility of 3.86%.

Our recommended stop-loss: $2,620.18 (-5.36%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 44 days ago.)

Trading Expectations (MKRUSD) For The Upcoming Trading Day Of Saturday 18th

For the upcoming trading day on Saturday, 18th we expect Maker to open at $2,740.33, and during the day (based on 14 day Average True Range), to move between $2,601.43 and $2,935.73, which gives a possible trading interval of +/-$167.15 (+/-6.04%) up or down from last closing price. If Maker takes out the full calculated possible swing range there will be an estimated 12.07% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $2,745.76 (0.82%) than the resistance at $2,817.78 (1.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Maker cryptocurrency A Buy?

Maker holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Maker of Saturday, May 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.