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Maker and Balancer are under pressure despite completing a retest. MKR and BAL prices may reclaim $3.9k and $35, respectively, mirroring August 2021 gains.
Maker (MKR)
The lending protocol in Ethereum also manages DAI using MKR governance tokens.
Past Performance of MKR
The Maker crypto performance mirrors the general state of the market.
Although there is optimism, prices are under pressure as per MKR technical analysis of the daily chart.
Presently, the MKR coin is down roughly eight percent versus the greenback.
Day-Ahead and What to Expect
The completion of the retest may mark the beginning of another wave higher for MKR token prices.
However, this is subject to participation from the wider crypto community.
In this case, if buyers unwind yesterday's losses, MKR coin may expand towards August 2021 highs of $3.9k.
Maker Technical Analysis
The uptrend is valid as long as the Maker coin is above $3k, reading from the candlestick arrangement in the daily chart.
Presently, the MKR token prices remain under pressure and within last week's trade range—bearish.
Still, aggressive traders may pick entries in lower time frames and target $3.9k.
On the other hand, there could be more room for more downside if $3k fails, opening doors for $2.1k.
Balancer (BAL)
The unique AMM DEX and bootstrapping platform utilize BAL for general governance.
Past Performance of BAL
It is a Balancer crypto revival. A glance of BAL token performance in the daily chart points to contained strength.
Notably, BAL coin is within September 7 bear candlestick despite decent trading volumes.
BAL is under pressure, sliding five percent against the greenback on the last day of trading.
Day-Ahead and What to Expect
Losses of early September saw BAL token lose over 40 percent, finding support at the 61.8 percent Fibonacci retracement level.
In the days ahead, BAL bulls might find support, building on the rejuvenation of this week to reach September 202i highs of around $35.
The recovery would be the basis for more gains, a lift-off towards $44.
Balancer Technical Analysis
The BAL coin is firm, completing a retest and finding support from the 61.8 percent Fibonacci retracement level from the late July to September 2021 range.
If Balancer crypto bulls flow back, the token might expand towards $35, an opportunity for aggressive traders.
However, a contraction could see BAL drop back to $25, syncing with losses of September 7.