Mid-term scenario :
Maker [MKR] recently registered a promising uptick as its value increased by 7% in the last week. At press time, MKR was trading at $1,004 with a market capitalization of $959,766,006.
We expect a tentative of bullish exit from the current bearish trend as long as MKR remains 800 and 1020 in setback. An intermediate resistance area at 1470/1740 is acting as taking profit level on the short-term while 3580 is the standard target for the coming weeks/months
Interestingly, MKR was also quite popular among the whales. MakerDAO was once again the most used smart contract among the top 500 Ethereum whales in the last 24 hours.
Key Element:
- - The long-term trend analysis show potential towards 3580 as long as 430 strategic support remains valid
- - The mid-term element as Mobile average and RSI are confirmed bullish signal
- - MKR is outperforming ETH & BTC on a mid-term basis which allow us to keep this coin in portfolio
Trade Idea : Buy
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