- Maker Token is turning lower under a falling parallel channel below the $1000 ideological round.
- For the past several days, bears have remained on the 20-day moving average.
- Speculators saw a 31% drop of $22 million in the last 24 hours.
ក្រុមហ៊ុនផលិត Token has hit a 52-week low of $654.6 mark this week. However, it is not far from the last 52-week low. After falling below annual lows, MKR ។ crypto became more bearish for the long-term outlook. There is no upside opportunity until the token bottoms out.
Producer price is performing poorly under a descending parallel channel on the daily price chart. Before the downtrend, buyers were managing the asset price under a symmetrical triangle pattern (White). Despite yesterday’s modest recovery, the MKR token looks bearish today, while it was trading at the $668 mark at the time of writing.
Amid the downtrend, the 100-day moving average stood to be the red zone of selling for a long time. Thus, the altcoin is trading below the significant moving averages of 20,50,100, and 200 at the time over the daily chart. However, the Speculators saw a drop of 31% in the last 24 hours to $22 Million.
More Downtrend is Likely Ahead
Due to the downtrend, the Market cap of ក្រុមហ៊ុនផលិត token reached $654 Million. Buyers need to reverse the ongoing trend to defend themselves from more sell-off. Although the RSI indicator shows minimal sustainability in price as its peak moves above the bullish trendline. Conversely, MACD seems to be flat into a negative region.
សន្និដ្ឋាន
The Maker token is extremely bearish under the falling parallel channel. In the recent decline, short-sellers registered a fresh 52-week low and more downtrend is likely ahead. The technical indicator shows neutral to recovery zone for MKR price.
កម្រិតគាំទ្រ - $ 650 និង $ 500
កម្រិត Resistance - $1000 និង $1400
ការមិនទទួលខុសត្រូវ
ទស្សនៈ និងគំនិតដែលសរសេរដោយអ្នកនិពន្ធ ឬមនុស្សណាម្នាក់ដែលមានឈ្មោះក្នុងអត្ថបទនេះគឺសម្រាប់តែគំនិតព័ត៌មានប៉ុណ្ណោះ ហើយពួកគេមិនបង្កើតហិរញ្ញវត្ថុ ការវិនិយោគ ឬដំបូន្មានផ្សេងទៀតទេ។ ការវិនិយោគលើ ឬជួញដូរទ្រព្យសកម្មគ្រីបតូមកជាមួយហានិភ័យនៃការបាត់បង់ហិរញ្ញវត្ថុ។
Source: https://www.thecoinrepublic.com/2022/09/17/maker-price-analysis-buyers-fear-holding-mkr-tokens-in-portfolio-after-fresh-52-week-low/