- Bullish MKR price prediction is $1113 to $1630.
- Maker (MKR) price might also reach $1700 soon.
- Bearish MKR price prediction for 2023 is $503.
In Maker (MKR) price prediction 2023, 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
| Current Price | $899.93 |
| 24 – Hour Trading Volume | $136,083,337 |
| 24 – Hour Price Change | 5.2% high |
| Circulating Supply | 901,310 |
| All – Time High | $6,292.31 (on May 03,2021) |
What is Maker (MKR)?
Maker (MKR) is the governance token of the Maker protocol built on the Ethereum blockchain. MKR, 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, MKR and a decentralized stablecoin, DAI. It is an open-source project that is recognized as one of the largest dApps existing on the Ethereum blockchain.
Maker (MKR) Price Prediction 2023
Maker (MKR) holds the 66th position on CoinGecko right now. MKR price prediction 2023 is explained below with a daily time frame.
The above chart of Maker (MKR) laid out a descending channel pattern. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form within longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend.
Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts.
Currently, Maker (MKR) is in the range of 899.93. If the pattern continues, the price of MKR might reach the resistance levels of $969, $1198 and $1497. If the trend reverses, then the price of MKR may fall to $504.
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 | $1113 |
| Resistance Level 2 | $1630 |
| Support Level 1 | $722 |
| Support Level 2 | $503 |
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 $1630.
Accordingly, if the investors turn against crypto, the price of Maker (MKR) might plummet to almost $503, a bearish signal.
Maker (MKR) Price Prediction 2023 — 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 an uptrend. 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 72.96. 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 2023 — 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 24 and thus, it indicates a weak trend.
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 72.96 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 changes of ETH and MKR are moving in a similar trend. This indicates that when the price of ETH increases or decreases, the price of MKR also increases or decreases respectively.
Maker (MKR) Price Prediction 2024-2030
Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of Maker (MKR) between 2024 and 2030.
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 $1706 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 $1709
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 $1710
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 $1712
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 $1715 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 $1717 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 $1720 by 2030.
Conclusion
With continuous improvements in the Maker network, we can say that 2023 is a good year for MKR. For this reason, the bullish price prediction of Maker (MKR) in 2023 is $1630. On the other hand, the bearish price prediction of Maker (MKR) price prediction for 2023 is $503.
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 $1700 if the investors believe that MKR is a good investment in 2023.
FAQ
1. What is Maker (MKR)?
Maker (MKR) is a play-to-earn (P2E) gaming token native to Maker, a 3D metaverse game. It was launched as an ERC-20 token in 2011.
2. Where can you purchase Maker (MKR)?
Maker (MKR) has been listed on many crypto exchanges which include Binance, BTCEX, OKX, Bitrue, WhiteBIT, and CoinTiger.
3. Will Maker (MKR) reach a new ATH soon?
With the ongoing developments and upgrades within the Maker Platform, MKR has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Maker (MKR)?
On May 03,2021 Maker (MKR) reached its new all-time high (ATH) of $6,292.31.
5. Is Maker (MKR) a good investment in 2023?
Maker (MKR) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Makerin the past few months, MKR is considered a good investment in 2023.
6. Can Maker (MKR) reach $1700?
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 $1700 soon.
7. What will be Maker (MKR) price by 2024?
Maker (MKR) price is expected to reach $1706 by 2024.
8. What will be Maker (MKR) price by 2025?
Maker (MKR) price is expected to reach $1709 by 2025.
9. What will be Maker (MKR) price by 2026?
Maker (MKR) price is expected to reach $1710 by 2026.
10. What will be Maker (MKR) price by 2027?
Maker (MKR) price is expected to reach $1712 by 2027.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not interpret any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
