- MKR coin price is currently in a downside trend and is ready to reverse its trend. Meanwhile, Maker has observed a loss of more than 3%.
- Technical indicators of MKR are currently looking to give a breakout. Meanwhile, MKR/BTC pair is down by more than 1.5%.
Why Invest In MKR Coin?
MKR coin price is currently in an oversold zone and can soon see a bounceback in the future. Maker Coin has been drifting around the worth of $1684 and has seen a deficiency of over 5% in the intraday session. Maker is an administration badge of the MakerDAO and Maker Protocol which are a decentralized association and a product stage. They depend on the Ethereum blockchain that gives clients to issue and deal with the DAI stablecoin. MKR token goes about casting a ballot share for the stage that oversees DAI stable coin. They don’t deliver profits to their holders, yet they actually give the holders casting ballot rights to improve Maker Protocol. This is relied upon to be appreciated in esteem as per the accomplishment of DAI itself. One can put resources into Maker according to their requirements and hazard limit.
Maker token as of now positioned 56th in the CMC and may before long place itself in the top self of the cryptoverse. The Volume of the MKR has likewise been seeing a slight drop beyond 24 hours. The volume to market cap proportion proposes a united pattern for the Maker coin.
Technical Indicators Of MKR Coin Price Are Currently Favoring The Bears
The weekly technical chart of the Maker suggests a consolidated trend and can soon see strong momentum in the future. On coming to the daily chart, the asset is in a strong downside trend and can soon see a new high. The upside trend of the MKR can see a hostile region near $2000. The downside trend of the asset can see a bounceback near $1500. If the asset currently moves further below more than 15 to 20%, then a bearish move can be seen
Conclusion
Maker coin price is in a consolidated trend and can soon see a new high in the future. MKR/BTC can also see a new high in the future.
Technical Levels
Major Support:$1500
Major Resistance: $2200
DISCLAIMER:
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.