Maker(MKR) Price Prediction 2022 — Will MKR Hit $2500 Soon?
- Bullish MKR price prediction is $1110 to $2312.
- Maker (MKR) price might also reach $2500 soon.
- Bearish MKR price prediction for 2022 is $597.
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 $1056.76 with a 24-hour trading volume of $66,801,853 at the time of writing. However, MKR has decreased by nearly 3.3% in the last 24 hours.
Moreover, Maker (MKR) has a circulating supply of 901,310 MKR. Currently, Maker (MKR) trades in cryptocurrency exchanges such as Binance, Coinbase Exchange, FMFW.io, MEXC, LBank, OKX .
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 56th position on CoinGecko right now. MKR price prediction 2022 is explained below with a daily time frame.
A horizontal channel or sideways trend has the appearance of a rectangle pattern. It consists of at least four contract points. This is because it needs at least two lows to connect, as well as two highs. Horizontal channels provide a clear and systematic way to trade by providing buy and sell points. The longer the horizontal channel, the stronger the exit movement will be. There is frequently a price on the channel after exit. The exit often occurs at the fourth contact point on one of the horizontal channel’s lines.
Currently, Maker (MKR) is in the range of $1062.54. If the pattern continues, the price of MKR might reach the resistance levels of $1185 and $2063. If the trend reverses, then the price of MKR may fall to $648.
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 for Maker(MKR).
| Resistance Level 1 | $1110 |
| Resistance Level 2 | $1632 |
| Resistance Level 3 | $2312 |
| Support Level 1 | $597 |
| Support Level 2 | $837 |
The charts show that Maker (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 $2312.
Accordingly, if the investors turn against crypto, the price of Maker (MKR) might plummet to almost $597, a bearish signal.
Maker (MKR) Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Maker (MKR) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of MKR lies below the cutoff line, indicating weak participants in the current trend.
Also, the Moving Average (MA) of Maker (MKR) is shown in the chart above. Notably, Maker (MKR) price lies above 50 MA (short-term), so it is in a upward. Currently, MKR has entered a bullish state. Therefore, there is a possibility of a reversal trend of MKR at any time.
Meanwhile, the relative strength index (RSI) of the MKR is 77.09. This means that Maker (MKR) is in an overbought state. However, this means a major price reversal of MKR may occur in the upcoming days. So, traders need to trade carefully.
Maker (MKR) Price Prediction 2022 — ADX, RVI
Let us now look at the 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, the ADX of MKR lies in the range of 63 and thus, it indicates an extremely strongtrend.
The above chart also represents 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 above 50, indicating high volatility. In fact, the RSI of Maker (MKR) is at 77.09 thus confirming a potential buy signal.
Comparison of MKR with BTC, ETH
The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and Maker (MKR).
From the above chart, we can interpret that the price actions MKR is a dissimilar trend with respect to BTC and ETH. This indicates that when the price of BTC and ETH increases , the price of MKR decreases. And when the price of BTC and ETH decreases, the price of MKR increases.
Maker (MKR) Price Prediction 2023
If the declining price action completely slows down in momentum and the trend reverses, Maker (MKR) might probably attain $2550 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 $2600 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 $2750
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 $2800
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 $2870
Maker (MKR) Price Prediction 2028
Maker (MKR) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, MKR would hit $2930 in 2028.
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 $3000 by 2029.
Maker (MKR) Price Prediction 2030
With greater advancements in the Maker ecosystem, the crypto community might continue to invest in MKR for the next 8 years and drive significant price rallies for the token. Hence, Maker (MKR) might hit $3050 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 $2312. On the other hand, the bearish price prediction of Maker (MKR) price prediction for 2022 is $597.
Furthermore, with the advancements and upgrades to the Maker ecosystem, the performance of MKR would help to reach above its current all-time high (ATH) of $6,292.31 very soon. But, it might also reach $2500 if the investors believe that MKR is a good investment in 2022.
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, Coinbase Exchange, FMFW.io, MEXC, LBank, OKX.
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 $2500 soon.
Maker (MKR) price is expected to reach $2550 by 2023.
Maker (MKR) price is expected to reach $2600 by 2024.
Maker (MKR) price is expected to reach $2750 by 2025.
Maker (MKR) price is expected to reach $2800 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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