BTC$49 128.70


ETH$4 120.96


Binance Coin








Maker (MKR) Has Macro Resistance to Beat

July 2020

MKR has been one of the strongest performers among the mid-ranked cryptocurrencies (the altcoin currently sits at the 24th spot), thanks to an impressive 81.3% price appreciation against USD that Maker has had during that period. It also did a much better job than the two dominant cryptocurrencies, having gained 70.5% against Bitcoin and 45.8% compared to Ethereum on the same time scale.

MRK/BTC/ETH comparison chart

Interestingly, during the past 30 days, Maker has created the so-called Bart Simpson pattern, which is generally considered as a bearish one. This one has already begun to play out as the MKR traders have seen a significant dump from the local high at $747 to the current $597 in a large pullback that happened after the price had briefly breached the crucial macro resistance at $630 on June 10. 

Maker needs to hold onto the resistance to remain bullish

On May 20, Maker has surprisingly made a very strong upside move after 77 days of tedious ranging in the bearish zone below $355, and the 50-period EMA. This price explosion must have caught many traders off guard since there has been no news of any fundamental upgrades or system updates that could have caused such rapid growth. Therefore, it is necessary to consider the probability of artificial price boost, mainly because this altcoin is being traded predominantly on OKEx. This exchange platform has been previously accused of doing wash trading, although the executives refuted these accusations. Certainly, that might not be the case, but make sure to exercise caution when trading MRK now, and don’t forget about stop-losses.

1-day MRK/USDT chart

The chart above shows that entering that market at this stage would be extremely risky because the price is being pushed down below the macro resistance after being rejected at $700. Whereas the previous bullish move ended up is a textbook bullish flag, which resolved itself to the upside after the 19% retracement, turning this one into a fully-fledged continuation pattern would be a tougher task because the level at $630 is of vital importance for the bears who want to keep MKR with the existing downtrend. 

However, several signs point to the probability of bulls getting into the driver’s seat in this market, the most notable of which is the golden cross that emerged on the daily time frame. And even though the cross hasn’t always been a reliable signal on its own, especially during the current price action cycle, but in this case, it is fortified by the methodically rising trading volume, with a huge cluster of buying volume during the breakout, and the bullish MACD that has finally peeled off the zero line and went above 50. Right now, the indicator displays the intention to perform a bearish crossover, although it would still remain in the bullish zone.

The RSI has fallen in the neutral area below 70, but without any divergences, making room for the possible upside move. Keep in mind that historically, Maker has shown the proclivity towards making big dips after the RSI goes into the overbought territory. Lastly, the ATR indicator is still at 60, meaning that the price volatility will persist.

Maker has the potential to initiate a secondary uptrend, but the price is at the crossroads, so traders must wait for a retest of macro resistance before entering a position.

Author: Alex Paulson for


Maker (MKR) Stands on the Slippery Ground
Maker (MKR) Stands on the Slippery Ground
Maker (MKR) Is Destined For Another Upswing
Maker (MKR) Is Destined For Another Upswing
Maker (MKR) Is Gliding Along the Resistance Line
Maker (MKR) Is Gliding Along the Resistance Line
Maker: In Anticipation of the Upward Move
Maker: In Anticipation of the Upward Move
Maker (MKR) Price Forecast for December 2019
Maker (MKR) Price Forecast for December 2019
Maker (MKR) Price Prediction for November 2019
Maker (MKR) Price Prediction for November 2019

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 76.4% 50 $49 128.70 -7.55% -10.26% $928 110 420 973 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 81.2% 36 $4 120.96 -1.29% 0.92% $488 780 881 496 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 80.8% 32 $562.73 -3.52% -6.79% $93 864 649 605 BNB 7 days price change
4 Tether (USDT) USDT Tether predictions 92% 1 $1.001430 0.08% 0.06% $74 263 665 994 USDT 7 days price change
5 Solana (SOL) SOL Solana predictions 70% 62 $198.10 -2.74% 3.42% $60 546 003 381 SOL 7 days price change
6 Cardano (ADA) ADA Cardano predictions 64% 72 $1.39 -8.63% -9.93% $46 287 449 057 ADA 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 90.4% 2 $1.000097 -0.05% 0% $40 029 698 519 USDC 7 days price change
8 XRP (XRP) XRP XRP predictions 70% 66 $0.836385 -7.82% -11.54% $39 516 931 096 XRP 7 days price change
9 Terra (LUNA) LUNA Terra predictions 69.6% 62 $74.36 25.00% 66.02% $28 825 591 225 LUNA 7 days price change
10 Polkadot (DOT) DOT Polkadot predictions 62.8% 76 $28.96 -12.18% -17.48% $28 604 270 701 DOT 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 66% 73 $0.176449 -10.40% -13.54% $23 359 356 254 DOGE 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 64.4% 75 $90.68 -11.80% -18.97% $22 009 485 134 AVAX 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 62.4% 76 $0.000036 -8.88% -7.14% $19 722 014 052 SHIB 7 days price change
14 Chain (CRO) CRO Chain predictions 57.6% 86 $0.600991 -3.69% -20.69% $15 182 834 806 CRO 7 days price change
15 Polygon (MATIC) MATIC Polygon predictions 67.6% 62 $1.97 -8.29% 22.24% $13 803 349 402 MATIC 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2021

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.