A manufacturer sees 17 % rampant: What is really behind MKR? star-news.press/wp

• Maker has published a 17 % sharp crowd, largely driven by a long interest in the futures market.
• the The main question is whether MKR can exceed $ 2000 and pay about $ 2,400.

Maker (MKR) recorded a 17 % sharp profit over the past 24 hours, as it has appeared as one of the best market performance.

Future traders led the increase, while immediate activity showed a more cautious situation, arousing the question: Is this gathering sustainable?

MKR Rally Fuel Traders

The price leap was mainly supported by long aggressive positions in the derivative market.

At the time of the press, the suggestive financing rate analysis of open benefits (OI) showed a positive reading of 0.0170 %, which is the third highest this year.

Source: Coinglass

This indicates that most open contracts on the MKR come from Long traders, who pay a premium to maintain their sites.

While the future traders led the batch, immediate traders sold more than a million dollars from MKR during the same period.

Such an important sale indicates that these merchants either get profits or cut losses to avoid the potential passive side.

In this case, achieving profits appears to be the potential motivation, given the last powerful price movement of assets.

Source: Coinglass

However, Ambcrypto analysis was found that continuous upward flow is unlikely, as technical indicators indicate that MKR may be hesitant soon.

Support the re -test forward?

On the daily chart, MKR turned at the highest level of $ 1962 to support.

However, the procedures indicate that re -testing this area may be the next, especially since the short -term momentum fades and the sale continues on the immediate side.

Source: TradingView

If the MKR holds above this direction line, the structure remains intact. The reversal can open from $ 1962 or $ 1867 doors for another step about $ 2,200.

Bollinger and MFI domains indicate the capabilities of apostasy

Market indicators support this possible scenario. At the time of the analysis, Bolinger’s ranges showed that MKR had been circulated in the upper (red) range on the graph.

Historically, the moves to this region led to the withdrawal of prices – either towards the middle (blue) range or the scope of lower (green) support.

Each of these two levels usually provides strong support, allowing the price to apostasy and possibly its highest levels.

Source: Trading Offer

With an imminent decrease, Ambrypto found that the reflux of the middle range is very likely due to the increased flow of liquidity in the market.

The money flow index (MFI) has risen to 66.62, indicating healthy liquidity flows.

This keeps MKR in the upscale liquidity area, and may attract any declining accumulation from merchants looking to enter cheaper.