Maker Price Prediction 2022 – Will MKR Hit $5000 Soon?
- Bullish MKR price prediction is $2612 to $4680.
- MKR price might also reach $5K soon.
- MKR bearish market price prediction for 2022 is $1098.
In Maker’s (MKR ) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about MKR to analyze the future movement of the cryptocurrency.
Maker Current Market Status
According to CoinGecko, the price of MKR is $1878.73 with a 24-hour trading volume of $235,059,085 at the time of writing. However, MKR has decreased nearly 0.8% in the last 24 hours.
Moreover, MKR has a circulating supply of 901,310 MKR . Currently, MKR trades in cryptocurrency exchanges such as Binance, OKX, FTX, Huobi Global, and CoinTiger.
What is Maker (MKR )?
Maker (MKR) is the governance token of the MakerDAO and Maker Protocol. Maker DAO is a decentralized organization and Maker Protocol is a software platform, both of them are based on the Ethereum blockchain. Maker ecosystem is one of the earliest projects on decentralized finance (DeFi). MKR tokens act as a kind of voting share for the organization that manages DAI.
Maker (MKR ) Price Prediction 2022
Maker holds the 64th position on CoinGecko right now. MKR price prediction 2022 is explained below with a weekly time frame.
The descending triangle is most commonly seen during downtrends and is often interpreted as a bearish signal. As the price continues to make lower highs, descending triangles indicate to investors and traders that sellers are more aggressive than buyers. When the price breaks out of the triangle in the direction of the overall trend, the pattern is complete.
Contrary to popular belief, a descending triangle can be bullish or bearish. A regular descending triangle pattern is traditionally regarded as a bearish chart pattern. A descending triangle pattern, on the other hand, can be bullish.
Currently, MKR is in the range of $1862.09. If the pattern continues, the price of MKR might reach the resistance level of $3265 and $6063. If the trend reverses, then the price of MKR may fall to $1800.
Maker (MKR ) Support and Resistance Level
The below chart shows the support and resistance level of MKR .
From the above daily time frame, it is clear the following are the resistance and support levels of MKR .
- Resistance Level 1 – $2612
- Resistance Level 2 – $3416
- Resistance Level 3 – $3915
- Resistance Level 4 – $4680
- Support Level 1 – $1816
- Support Level 2 – $1098
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 $4680.
Accordingly, if the investors turn against the crypto, the price of the MKR might plummet to almost $1098, a bearish signal.
Maker Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of 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 above the cutoff line, indicating stronger participants in the current trend.
More so, the MKR ’s Moving Average (MA) is shown in the chart above. Currently, MKR is in a bearish state. Notably, the MKR price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of MKR at any time.
Meanwhile, the relative strength index (RSI) of the MKR is at level 32.05. This means that MKR is in a nearly oversold state. However, this means a major price reversal of MKR may occur in the upcoming days. So, traders need to trade carefully.
Maker Price Prediction 2022 — ADX, RVI
Let us now look at Maker’s Average Directional Index (ADX). 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. Currently, MKR lies in the range of 32, so it indicates a strong trend.
From the above chart, the Relative Volatility Index (RVI) of MKR . RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of MKR lies below the 50 levels, indicating that the direction of volatility is low. In fact, MKR ‘s RSI is at 32.05 level thus confirming a potential sell signal.
Comparison of MKR with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Maker.
From the above chart, we can identify the trend of the MKR is moving at the downward trend. But, the recent trend of BTC and ETH moves in an upward direction.
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 in 2022 is $4680. On the other hand, the bearish MKR price prediction for 2022 is $1098.
Furthermore, with the advancements and upgrades on the MKR ecosystem, the performance of MKR would help to reach above its current all-time high (ATH) $3915 very soon. But, it might also reach $5K if the investors believe that MKR is a good investment in 2022.
FAQ
Maker is a cryptocurrency in the Ethereum blockchain that is designed to reduce the price fluctuation of its own USD-pegged cryptocurrency, DAI.
MKR has listed on many crypto exchanges which include Binance, OKX, FTX, Huobi Global, and CoinTiger.
With the ongoing developments and upgrades within the MKR platform, it has a high possibility of reaching its ATH soon.
On May 03, 2021, MKR reached its new all-time high (ATH) of $6292.31.
Maker (MKR ) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of MKR 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 $5K soon.
Maker (MKR ) price is expected to reach $5.5K by 2023.
Maker (MKR ) price is expected to reach $6.3K by 2024.
Maker (MKR ) price is expected to reach $7K by 2025.
Maker (MKR ) price is expected to reach $7.8K by 2026.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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