Maker (MKR) Price Prediction 2022 – Will MKR Hit $5000 Soon?
- Bullish MKR price prediction for 2022 is $1096 to $3260.
- The MKR price will also reach $5000 soon.
- Bearish MKR price prediction for 2022 is $672.
In Maker (MKR) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about MKR to analyze the future movement of the cryptocurrency.
Maker (MKR) Current Market Status
According to CoinGecko, the price of Maker (MKR) is $847.87 with a 24-hour trading volume of $106,527,116 at the time of writing. However, MKR has decreased to 11.5% in the last 24 hours.
Moreover, Maker (MKR) has a circulating supply of 901,310 MKR. Currently, MKR trades in cryptocurrency exchanges such as Binance, Coinbase, MEXC, FMFW.io, OKX, FTX, Bybit, and Phemex.
What is Maker (MKR)?
Maker (MKR) is the governance token of the Maker protocol built on the Ethereum blockchain. MKR was created by makerDAO and launched in 2015. Maker protocol and MakerDAO manage and provide the smart contracts ecosystem for one of the largest stablecoins, DAI.
Maker ecosystem, thus, comprises two tokens, Maker (MKR) and a decentralized stablecoin, DAI. Maker Protocol is an open-source project that is recognized as one of the largest dApps existing on the Ethereum blockchain.
Maker (MKR) Price Prediction 2022
Maker (MKR) holds the 55th position on CoinGecko right now. MKR price prediction 2022 is explained below with a daily time frame.
The above chart of Maker (MKR) laid out a falling wedge pattern. In a falling wedge pattern, both the upper trend line which connects the highs and the lower trend line which connects the lows converge downwards. The wedge pattern in general indicates a trend reversal. Especially, the falling wedge signals a bullish reversal.
This pattern indicates a breakout in the price trend towards an upswing. From the above chart, we can interpret that the momentum of the downtrend is slowing down.
Currently, Maker (MKR) is at $893. If the pattern continues, the price of MKR might reach the resistance level of $1080, $1383, and $1701. If the trend reverses, then the price of MKR may fall to $692.
Maker (MKR) Support and Resistance Levels
The chart below shows the support and resistance levels of Maker (MKR).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels of Maker (MKR).
The charts show that MKR has performed a bullish trend over the past month. If this trend continues, MKR might run along with the bulls overtaking its resistance level at $3260.
Accordingly, if the investors turn against the crypto, the price of the MKR might plummet to almost $672, a bearish signal.
Maker (MKR) Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Maker (MKR) is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of MKR lies just on the cutoff line, indicating the entry of strong participants in the current trend.
Moreover, the Moving Average (MA) of Maker (MKR) is shown in the above chart. Notably, the MKR price lies below 50 MA (short-term), so it is completely in a downward trend. Currently, MKR is in a bearish state. There is a possibility of a reversal trend of MKR at any time.
Meanwhile, the relative strength index (RSI) of the MKR is at a level of 42.81. This means that MKR is in an oversold state. However, this gives confidence to the traders to trade without any fear.
Maker (MKR) Price Prediction 2022 — ADX, RVI
Let us now look Average Directional Index (ADX) of Maker (MKR). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Maker (MKR). Currently, MKR lies in the range of 20, indicating a weak trend.
From the above chart, the Relative Volatility Index (RVI) of Maker (MKR). RVI measures the constant deviation of price changes over a period of time. The RVI of MKR lies below 50, indicating low volatility. In fact, MKR’s RSI is at 42.81, thus confirming a potential buy signal.
Comparison of MKR with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Maker (MKR).
From the above chart, we can interpret ETH, BTC, and MKR are moving in a similar trend but with slight differences. This indicates that when the price of BTC increases or decreases, the price of ETH and MKR increase or decrease respectively. The momentum of MKR is increasing over that of ETH.
Maker (MKR) Price Prediction 2023
If the declining price action slows down in momentum and the trend reverses, Maker (MKR) might probably attain $5500 by 2023.
Maker (MKR) Price Prediction 2024
With several upgrades in the network, Maker (MKR) might enter a bullish trajectory. If the coin grabs the attention of major investors, MKR might rally to hit $6100 by 2024.
Maker (MKR) Price Prediction 2025
If Maker (MKR) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, MKR would rally to hit $6500.
Maker (MKR) Price Prediction 2026
If Maker (MKR) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, MKR would rally to hit $7000.
Maker (MKR) Price Prediction 2027
If Maker (MKR) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, MKR would rally to hit $7700.
Maker (MKR) Price Prediction 2028
If Maker (MKR) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2028, MKR would hit $8300.
Maker (MKR) Price Prediction 2029
If investors flock in and continue to place their bets on Maker (MKR), it would witness major spikes. MKR might hit $8900 by 2029.
Maker (MKR) Price Prediction 2030
With greater advancements in the Maker ecosystem, the crypto community might continue to invest in Maker (MKR) for the next 8 years and drive significant price rallies for the token. Hence, Maker (MKR) might hit $9500 by 2030.
Conclusion
With continuous improvements in the Maker network, we can say that 2022 is a good year for MKR. For this reason, the bullish price prediction of Maker (MKR) in 2022 is $3260. On the other hand, the bearish price prediction of Maker (MKR) for 2022 is $672.
Furthermore, with the advancements and upgrades in the Maker ecosystem, the performance of Maker (MKR) might hit $5000 gaining investors’ attention. It would also rise to reach above its all-time high (ATH) of $6,292.31 in the near future.
FAQ
Maker (MKR) is the governance token of the MakerDAO protocol. This ERC-20 token was launched in 2015. MKR plays a prominent role in backing the stablecoin, DAI.
Maker (MKR) has been listed on many crypto exchanges which include Binance, FTX, Coinbase, OKX, FTX, WhiteBIT, ZB, HitBTC, MEXC, KuCoin, Huobi global, Crypto.com, and ZB.Com.
With the ongoing developments and upgrades within the Maker platform, Maker (MKR) has a high possibility of reaching its ATH soon.
On May 03, 2021, Maker (MKR) reached its new all-time high (ATH) of $6,292.31.
Maker (MKR) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Maker in the past few months, MKR is considered a good investment in 2022.
Maker (MKR) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Maker (MKR) will hit $5000 soon.
Maker (MKR) price is expected to reach $5500 by 2023.
Maker (MKR) price is expected to reach $6100 by 2024.
Maker (MKR) price is expected to reach $6500 by 2025.
Maker (MKR) price is expected to reach $7000 by 2026.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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