Connect with us

Price Analysis

Maker (MKR), Ox (ZRX), and BAND Price Analysis for Apr 13

Published

on

Cryptocurrency technical analysis daily
Share this post

Maker (MKR), BAND, and ox (ZRX) prices are bullish, with ZRX/USDT prices at near new 2021 highs. BAND/USDT exhibits signs of weakness but is firm, while MKR/USDT is likely to grind higher.

Maker (MKR)

Traders are confident. Looking at Maker price forecasts, there is a solid reason to believe that the MKR/USD rally paused but is far from over. A look at the chart suggests participation and a bullish activity.

As of writing on Apr 13, the Maker price is trading at just above $2.48k. At spot rates, the token is up roughly six percent versus the USD, BTC, and ETH, on the last trading day.

What’s even interesting is the spark of participation judging from trading volumes in the same period. With an almost fully diluted market cap—being 995,239 in circulation from a one million MKR total supply, the token’s average daily trading volumes rose 194 percent to $276 million.

MKR/USD Technical Analysis

Maker Daily Price Chart for Apr 13

From the daily chart, the MKR/USD price is trading within a bullish breakout pattern. This follows gains of late March that lifted prices above the bull flag.

After Apr 12 surge, Maker bulls are ahead. However, most depend on yesterday’s bull bar’s confirmation now that trading volumes are encouragingly rising.

Therefore, in a bullish breakout pattern inside a broader consolidation, aggressive MKR traders can take advantage of favorable patterns and bullish long-term Maker price forecasts to add to their longs on every dip.

The first target is $3k after the comprehensive close above the bull flag and $2.4k in the last two weeks.

Ox Protocol (ZRX)

DeFi is on fire, and Ox Protocol supporters expect nothing of a moonshot in the days ahead, reading from the long-term ZRX price predictions.

As of writing on Apr 13, the ZRX price is trading at around new 2021 highs. Adding 19 percent in the past week of trading along, it appears that traders are in charge. Accordingly, every low could be a loading opportunity.

Presently, ZRX’s average trading volumes are up 19 percent on the last day, pushing its liquidity to $319 million.

ZRX/USDT Price Forecast

ZRX Daily Price Chart for Apr 13

The ZRX price is changing hands at $2.17 as of writing, at 55th in the market cap leaderboard.

Technically, price action is in line with previous ZRX/USDT technical analysis, favoring buyers. The ZRX price is trading within a bullish breakout pattern from the daily chart, at near 2021 highs registered on Apr 9.

Since ZRX buyers are resilient, every low is a buying opportunity now that trading volumes are high and ZRX/USDT prices are ranging inside the visible bull bar of Apr 9.

In a bullish continuation pattern and building momentum as ZRX bars band along the upper BB, the immediate target for ZRX traders is $3, the 1.618 Fibonacci extension level of the Q1 2021 trade range.

Band Protocol (BAND)

Oracles are indispensable in DeFi, explaining the bullish long-term price forecast for BAND. Analysts are upbeat and have every reason to after a 35X surge year-to-date.

As of writing, there could be an opportunity for the Band Protocol believers to scoop up the token for cheap. Bears are attempting to press BAND prices lower, but bulls are resilient. Week-to-date, the BAND price is down roughly eight percent against USD, BTC, and ETH.

Meanwhile, participation shrunk by 22 percent, driving down BAND’s average daily trading volumes to $61.5 million.

BAND/USDT Price Prediction

Band Protocol Daily Price Chart for Apr 13

The BAND price is trading within a bullish breakout pattern. There are series of lower lows, but BAND/USDT prices may print higher in the medium term.

Notably, prices are near the upper BB—slowing down slightly, but the uptrend is firm.

Traders can buy the dips with targets at $20—the Q1 2021 high provided BAND/USDT prices are ranging inside Mar 31 bull bar.

On the flip side, there could be cause for worry if BAND prices sink below the middle BB and $15. This could spark a sell-off with immediate targets at $11—or Mar 2021 lows.

Chart courtesy of Trading View

Disclaimer: Opinions expressed are not investment advice. Do your research.

cryptotelegram-telegram-banner
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending