Bitcoin
BTC$49 161.99

-7.54%

Ethereum
ETH$4 118.25

-1.26%

Binance Coin
BNB$562.05

-4.26%

Tether
USDT$1.001894

0.11%

Solana
SOL$194.24

-5.56%

Cardano
ADA$1.39

-9.32%

Maker (MKR) Price Prediction for November 2019


November 2019

Maker (MRK) can be considered as one of the most underappreciated cryptocurrencies not included in the Top 20 on CoinMarketCap. It is a solid coin through and through, starting from its fundamentals and going to the day-to-day price action. Together with Chainlink and EOS, Maker represents a group of altcoins that could see a significant price breakthrough over the next ten months.  

Maker in 2019


The year of 2019 didn’t begin well for Maker as it dropped from the customary resistance level of $500 to $367 in a matter of months, reaching the support line that was characteristic of the entire 2018. But, as they say, the night is darkest before the sunrise, which is more than applicable to the case of Maker. Right after the February dip to $300s, MKR had entered the massive bullish phase, which took the coin from the bottom of the pit almost to its 2019 highs, on the first try. This run was followed by a short correction that lasted for about two weeks in March. After that, MRK had hit the ceiling at $775, which turned out to be its resistance level for the current year.

Following another brief correction that happened through May, Maker had been holding at its peak until mid-June, when it crashed abruptly below $300, in keeping with the general downfall on the cryptocurrency market that literally buried the hopes of optimists for the continuation of the bull run. After a short-term bounce to $600, Maker had cascaded down to $440 and continued to move in the $425 - $546 corridor from August till the present time.

Maker is generally perceived as a mild-to-high volatility coin, which is proved by its price action in October.

What’s good about Maker is that this cryptocurrency is characterized by strong upward impulses, followed by relatively mild, yet quite prolonged, correction phases, which provide traders with a chance to properly analyze the situation and make a weighted decision. Judging from the present chart, and MKR’s recent price history, we can assume that the coin will continue its movement within the confines of the designated corridor, thus decreasing from its current level of $523 (as of the time of writing) to around $430, where it will face a stiff resistance. The behavior of Maker during the remainder of the year will largely depend on whether the bulls regain the momentum, which they had lost in August, or would the bears manage to acquire dominance during the tail-end of the year, MRK would go down much lower, as shown on this prediction graph.

2020 scenario for MKR


However, despite this seemingly unfavorable prognosis, the future appears to be quite bright for Maker, especially if the bulls do manage to overpower the bears by the end of 2019. Should that happen, the price of the coin could swiftly break through the 2019 high, like it always does when the bull run occurs.

As per technical analysis on a monthly time frame, Maker shows excellent potential for future growth, as confirmed by the indicators above. Therefore, MKR can be dubbed as a good mid-term investment, and it would remain a good trading instrument in 2020, thanks to its trademark broad price action.

Author: Alex Paulson for Crypto-Rating.com

Related

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) Has Macro Resistance to Beat
Maker (MKR) Has Macro Resistance to Beat
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

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 71.6% 50 $49 161.99 -7.54% -9.53% $928 742 493 274 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 81.2% 36 $4 118.25 -1.26% 1.66% $488 463 723 885 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 80.8% 32 $562.05 -4.26% -3.43% $93 750 994 329 BNB 7 days price change
4 Tether (USDT) USDT Tether predictions 94.4% 1 $1.001894 0.11% 0.15% $75 254 604 021 USDT 7 days price change
5 Solana (SOL) SOL Solana predictions 71.6% 62 $194.24 -5.56% 4.14% $59 368 624 845 SOL 7 days price change
6 Cardano (ADA) ADA Cardano predictions 67.2% 72 $1.39 -9.32% -7.63% $46 190 331 305 ADA 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 91.2% 2 $0.999949 -0.06% 0% $40 047 875 279 USDC 7 days price change
8 XRP (XRP) XRP XRP predictions 68% 66 $0.828762 -9.19% -9.91% $39 156 782 219 XRP 7 days price change
9 Polkadot (DOT) DOT Polkadot predictions 63.2% 76 $28.61 -13.10% -13.97% $28 252 789 702 DOT 7 days price change
10 Terra (LUNA) LUNA Terra predictions 68% 62 $72.37 19.28% 68.00% $28 042 448 304 LUNA 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 67.2% 73 $0.174742 -11.62% -13.40% $23 133 381 550 DOGE 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 63.2% 75 $90.73 -12.20% -15.06% $22 021 633 944 AVAX 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 65.2% 76 $0.000036 -9.81% -4.05% $19 737 758 472 SHIB 7 days price change
14 Crypto.com Chain (CRO) CRO Crypto.com Chain predictions 59.2% 86 $0.596873 -3.33% -17.58% $15 078 810 547 CRO 7 days price change
15 Binance USD (BUSD) BUSD Binance USD predictions 94.8% 1 $1.000707 0.05% 0.10% $13 610 041 795 BUSD 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 Crypto-Rating.com

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.