Price Analysis of Maker (MKR) and Fantom (FTM)

Maker (MKR)

Maker (MKR) is currently among the medium-level cryptocurrencies in terms of valuation and demand that has started moving in a positive direction. In the past 24-hours, the price of Maker (MKR) has surged by 4.79% and the bulls still have strong sentiments for its future growth.

Therefore, they may continue pouring in more money to make Maker more fruitful for them in the long run. The buying spree of the bulls has elevated Maker from a low of $2,124.39 per MKR to a high of $2,236.89 per MKR.

Even the trading volume for Maker has gradually started moving in the upward direction. These factors are very promising for the investment community as they act as assurances toward a strong trend.

As the investors keep acquiring more Maker, the price for the digital asset may grow higher, and so will the demand. This is when more investors would provide their backup to the bulls to push Maker even higher.

This way, the price of Maker may grow higher, where the first mark would be $2,344.03 per MKR. The bulls may attempt to launch another buying attack against the bears to kill any possibilities of the bears coming back to life.

If the bulls succeed, then the price of Maker may move into the resistance zone and hit one of the major defenses at $2456.31.

Fantom (FTM)

Fantom is also among the medium-level cryptocurrencies and it has also achieved a significant rally. The data shows that the value of Fantom has grown from a low of $1.49 per FTM to a high of $1.55 per FTM in a matter of 24-hours. So far, the recorded rally that has resulted in such a price surge for Fantom is 3.20%.

The analysis shows that the rally rate may continue growing higher as the bears have retreated for now. It seems that they have exhausted their selling power and may have to wait before they can relaunch their attack.

This has given an opportunity to the bulls and they can launch a strong rally the bears may not be able to break going forward. If the rally persists, the price of Fantom may grow all the way up to $1.59 per FTM, and going forward, it may hit a high value of ($1.70).

On the other hand, if the bears manage to launch a strong attack against the bulls, then they may push Fantom below $1.50 per FTM.

Once Fantom’s price takes the dip, the bears may drag it down to $1.39 per FTM. From there, the bears may launch another strong selling attack and break all the support defenses set by the bears, bringing Fantom down to $1.12.