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Maker Price Prediction for Today, 08 November: Will MKR Break Down $591 Level?

Maker Price Prediction for Today, 08 November: Will MKR Break Down $591 Level?

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MKRUSD will retest the $1155 level

MKRUSD Price Analysis – November 25th

As buyers increase their momentum, the price may rise to the resistance levels of $658, $723 and $783. An increase in sellers’ momentum may lower MKR (Maker) to the $591, $548 and $480 support levels.

MKR/USD market

Key levels:

Resistance levels: $658, $723, $783

Support levels: $591, $548, $480

MKRUSD Long Term Trend: Bearish

MKRUSD is bearish on the long-term outlook. Buyers successfully pushed the price to a high of $1,155 on October 19. An inverted pin bar formed at the mentioned resistance level indicates that the momentum of the bulls has run out. Bears took over the market and the price fell to $658 on November 9. It pulled back to retest the $826 resistance level. The downward movement is restored and the price falls towards the previous low level.

Maker (MKR) may continue to trade below the 9-period EMA and 21-period EMA as sellers maintain positions by positioning the coin below two dynamic resistance levels. As buyers increase their momentum, the price may rise to the resistance levels of $658, $723 and $783. An increase in sellers’ momentum may lower MKR (Maker) to the $591, $548 and $480 support levels. Period 14 of the Relative Strength Index is at the 38 level and downward pointing signal lines indicate a sell signal.

MKRUSD medium-term trend: bearish

MKRUSD is bearish on the medium-term outlook. The sellers ruled the world of Marker for several weeks. The price rose to $879 from $658 but could not continue the uptrend. The price fell and broke the support levels of $723 and $658. It is currently falling towards the $591 support level.

The coin is trading below the 21-period EMA and the 9-period EMA in the near term, indicating that the bears are dominating the MKR market. Period 14 of the Relative Strength Index is at the 41 level and the signal lines are pointing down to indicate a sell signal. Marker is under seller pressure, buyers pressure Dash 2 Trade and IMPT coins.

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