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.
- - 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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