Maker today news: Sideways action expected — Downside risk seen if $1,690 support breaks

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Maker Slips 0.02% Today, Holds Steady

Highlights

Maker (MKR) trades at $1,813.70, holding above its 20-, 50-, and 200-day moving averages despite recent neutral price action and broad crypto market weakness.
A 3.7% rebound during September 15-16 highlighted bullish momentum around Maker's rebranding, supported by a bullish engulfing weekly candle and strong technical signals.
Weekly forecasts predict MKR will trade within $1,524.80 to $1,534.30, with downside favored as only one major indicator signals 'Buy' or 'Strong Buy.'

Support recovery and bullish momentum as rebranding counters negative sentiment

Despite negative sentiment across the broader crypto market, Maker held important support near $1,500 ahead of its rebranding and staged a notable recovery of about 3.7% over the September 15-16 period. This rebound contrasted with market-wide downturns, highlighting strength around the time of the transition. Technical signals also suggested bullish momentum prevailed during this phase, including a bullish engulfing candle on weekly charts.

Resistance pressure grows as bullish momentum meets overbought signals

This configuration suggests a bullish short- and medium-term structure, with dynamic support seen around the Ichimoku Kijun level at $1,689.50 and the next resistance near the $1,850 area, just above the 50-day average. Momentum indicators present a mixed outlook: daily MACD remains firmly bullish, while ADX signals weak trend strength. RSI at 66.41 and Stoch RSI near 87 both flag overbought conditions, supported by a bullish CCI. Buyers still control intraday tone as BBP reads neutral-to-positive. MKR is trading in the upper half of today’s $1,780.60 – $1,830 range, showing low intraday volatility and sideways price action after the open. With daily momentum positive but overbought signals rising, short-term traders should note the divergence, as the intraday stalling contrasts with recent bullish drive.

Downside risk increases as key indicators weaken and range narrows

For the next five trading days, the expected price range is $1,524.80 to $1,534.30, based on weekly forecasts. Probability of further upside is very low (less than 20%) as only one of RSI, ADX, MACD, and MA-50 on the weekly chart signals “Buy” or “Strong Buy”, while “Strong Sell” on ADX and "Sell" from RSI dominate. Downward movement is more likely. In the baseline scenario, MKR holds above $1,690 and trades sideways. In a bullish move, price could push above $1,850 if buyers regain momentum. Conversely, a bearish scenario sees MKR breaking below $1,690, exposing the $1,530 weekly support area.

Viktoras Karapetjanc, analyst at Traders Union, sees Maker’s recent resilience and its performance during the rebranding as a sign that strong sentiment and structural factors are supporting the token, even amid a broader crypto market slowdown. He believes the technical setup remains encouraging in the short and medium term, though some overbought signals and mixed weekly momentum indicators suggest upward momentum could take a breather. However, Karapetjanc maintains a constructive outlook, emphasizing that holding above $1,690 keeps bullish prospects alive for now. "If Maker stays supported above $1,690, I expect buyers to regain confidence — while the main risk remains a shift in market sentiment or a drop below this key level."

Last time we reported that MKR outperformed peers as renewed optimism drove a 24-hour rally, aligning with signals from bullish candlestick patterns. However, overbought signals emerged amid conflicting momentum in a neutral trend, as described in conflicting momentum in neutral trend.

Source of Data: Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.