{"id":151317,"date":"2023-09-07T11:07:58","date_gmt":"2023-09-07T05:37:58","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=151317"},"modified":"2023-09-07T11:07:58","modified_gmt":"2023-09-07T05:37:58","slug":"maker-mkr-stalls-at-this-key-fib-level-will-its-rally-sustain-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/maker-mkr-stalls-at-this-key-fib-level-will-its-rally-sustain-crypto-news\/","title":{"rendered":"Maker [MKR] stalls at this key Fib level \u2014 will its rally sustain? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"single-post-author-top\">\n<p>\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2022\/08\/image-1-80x80.jpeg\" class=\"avatar pp-user-avatar avatar-48 photo \" height=\"48\" width=\"48\" \/><\/p>\n<p>contributor<\/p>\n<\/p><\/div>\n<p>\t\t\t\t\t\t\t\t<span class=\"mvp-post-date updated\">Posted: September 7, 2023<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span><\/p>\n<\/p><\/div>\n<div>\n<p><i data-stringify-type=\"italic\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/i><\/p>\n<ul>\n<li><em>MKR rebounded from the recent retracement to sustain its uptrend.<\/em><\/li>\n<li><em>Flipping the 23.6% Fib level on the daily timeframe remained key for sustained gains.<\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/MKR\" data-wpel-link=\"internal\">Maker [MKR]<\/a> sustained its impressive run as one of the best-performing cryptocurrencies over the past seven days. According to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/\" data-wpel-link=\"external\">Coinmarketcap<\/a>, MKR was among the top five tokens with gains of over 10%.<\/p>\n<hr \/>\n<p style=\"text-align: center\">Realistic or not,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/marketcap\" data-wpel-link=\"internal\">here\u2019s MKR\u2019s market cap in BTC terms<\/a><\/p>\n<hr \/>\n<p>If Maker retains its bullish market structure, these short-term gains could translate to a long-term bullish run.<\/p>\n<h4><strong>MKR\u2019s rebound fueled by steady demand at key Fib level<\/strong><\/h4>\n<div id=\"attachment_341466\" style=\"width: 1922px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MKRUSDT_2023-09-06_12-57-50.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-341466\" class=\"size-full wp-image-341466\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"Maker MKR price chart on dark background\" width=\"1912\" height=\"1054\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MKRUSDT_2023-09-06_12-57-50.png 1912w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MKRUSDT_2023-09-06_12-57-50-300x165.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MKRUSDT_2023-09-06_12-57-50-1024x564.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MKRUSDT_2023-09-06_12-57-50-768x423.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MKRUSDT_2023-09-06_12-57-50-1536x847.png 1536w\" data-lazy-sizes=\"(max-width: 1912px) 100vw, 1912px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MKRUSDT_2023-09-06_12-57-50.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-341466\" class=\"size-full wp-image-341466\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MKRUSDT_2023-09-06_12-57-50.png\" alt=\"Maker MKR price chart on dark background\" width=\"1912\" height=\"1054\" \/><\/a><\/p>\n<p id=\"caption-attachment-341466\" class=\"wp-caption-text\">Source: MKR\/USDT on Trading View<\/p>\n<\/div>\n<p>Maker\u2019s 19% pump on 31 August led to a bullish crossover on the Moving Average Convergence Divergence (MACD) indicator. With the 38.2% Fib level ($1,042) providing support, bulls curtailed the retracement from the $1,370 price zone.<\/p>\n<p>While the short-term pump sustained MKR\u2019s uptrend, the price stalled at the 23.6% Fib level ($1,167). This saw the Relative Strength Index (RSI) falter at the neutral 50 mark, revealing decent buying pressure.<\/p>\n<p>Despite the slight pullback at the 23.6% Fib, the On Balance Volume (OBV) showed that there was still active demand for MKR, as it maintained its upward trajectory.<\/p>\n<p>From the current price level, bulls would be looking to break above the 23.6% Fib and push on to the $1,300 to $1,370 price zone. This price level was last seen by bulls in early August. Bears on the other hand will be counting on further price rejections at the 23.6% Fib. This could force prices toward the 38.2% Fib ($1,042) and 50% Fib ($940).<\/p>\n<h4><strong>Marginal edge for buyers in the futures market<\/strong><\/h4>\n<div id=\"attachment_341467\" style=\"width: 1032px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MKR_Long_SHort.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-341467\" class=\"size-full wp-image-341467\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"1022\" height=\"624\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MKR_Long_SHort.jpg 1022w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MKR_Long_SHort-300x183.jpg 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MKR_Long_SHort-768x469.jpg 768w\" data-lazy-sizes=\"(max-width: 1022px) 100vw, 1022px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MKR_Long_SHort.jpg\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-341467\" class=\"size-full wp-image-341467\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/MKR_Long_SHort.jpg\" alt=\"\" width=\"1022\" height=\"624\" \/><\/a><\/p>\n<p id=\"caption-attachment-341467\" class=\"wp-caption-text\">Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/LongShortRatio\" data-wpel-link=\"external\">Coinglass<\/a><\/p>\n<\/div>\n<p>The exchange long\/short ratio showed a slim advantage for longs in the derivatives market. Longs held open contracts worth $58.58 million, amounting to a 50.64% share.<\/p>\n<hr \/>\n<p style=\"text-align: center\">Read\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/maker-price-prediction\" data-wpel-link=\"internal\">Maker\u2019s [MKR] Price Prediction<\/a>\u00a02023-24<\/p>\n<hr \/>\n<p>Despite MKR\u2019s bullish leaning, investors\/traders should adopt a cautious approach to its long-term price action, due to its tendency for sudden price movements.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>contributor Posted: September 7, 2023 Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion. MKR rebounded from the recent retracement to sustain its uptrend. Flipping the 23.6% Fib level on the daily timeframe remained key for sustained gains. Maker [MKR] sustained its impressive [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":151318,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-151317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151317","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=151317"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151317\/revisions"}],"predecessor-version":[{"id":151320,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151317\/revisions\/151320"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/151318"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=151317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=151317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=151317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}