Maker News

MKR drops by over 15% from the highest price observed in August

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The recent ups and downs in the valuation of MKR might have acquired some attention from the potential investors of the network. However, the price fluctuations might be slightly confusing and due to current volatility, it may also result into regretful trade decisions. Let’s check out the price analysis of MKR, today.

MKR to USD Price Analysis:

Considering the one-month movement of MKR we see that the price was initially trading above the baseline at $531.447 as on August 28, 2019, at 14:30 UTC. The value then dropped by 23.57% on September 6, 2019, at 20:00 UTC, when Maker was trading at $406.172. The value from then escalated to the highest touchpoint of the said time frame on September 20, 2019, at 14:30 UTC, trading at $559.53.

However, the value of Maker then dropped by 26.35% to the lowest touch down in the said time period trading at $41.085. The current trading price (at the time of writing) is slightly increased by 10.40% from the latter price mark.

MKR Price Chart

MKR is seen trading in the bearish zone as of now. This happens to be the optimum time to invest in the coin for potential investors. Considering the movements in the chart, the prognosis can be predicted as follows:

Short-term Prognosis:

Hitting the highest and lowest price of the trading duration with caution can help the investors to earn with intra-day trading.

Long-term Prognosis:

Maker Price Chart

Considering the year-to-date movement of Maker, the value seems to be trading below the baseline to a major extent, however, it is expected to surge soon. Therefore, the long-term investment in Maker can result into fetching moderate returns if the exit points ae planned properly.

The calculated resistance and support levels are as follows:

Resistance Levels:

R1: $461.25, R2: $477.66, R3: $490.31

Support Levels:

S1: $432.19, S2: $419.54, S3: $403.13

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