- The Marer token recorded its new 2022 low of $656 mark last night during a dramatic sell-off.
- The $1000 ideological round has become a significant bullish hurdle for MKR investors.
- The price of the MKR and BTC pair is up a little over 8.5% at 0.04002 satoshis.
Maker Token traders have been seeing massive volatility in recent days as a result of the fall of BTC. Maker (MKR) recaptured the $1,000 effective advice level on May 12th, showing that bulls are trying hard to keep this level. Maker has been declining since the beginning of the current year.
The Marer token hit a new 2022 low of $656 yesterday night following a spectacular sell-off, which has now shifted into critical support, and the MRK price is currently trading near $737 Mark.
Maker Token has a live market cap of $721 million today, up 3.9% over the last 24 hours. And the 24-hour trading volume is $67,640,014 USD. Trading volume shows low volatility in the trading session but still traders are facing liquidations due to volatility.
Maker has gained 2.28% in the last 24 hours. Recent lows have entered an important defensive zone for the bulls. The circulating supply is 977,631 MKR coins, with a maximum of 1,005,577 MKR coins. Moreover, the MKR and BTC pair is trading up a little over 8.5% at 0.04002 satoshis.
Buyers again witness the weekend of recession
MKR is traded just under the 50 and 20 day exponential moving averages on the daily price chart. For a long time, the 20 EMA served as a bullish hurdle for the bulls.
After falling into the very oversold zone, the daily Stoch RSI indicator began to rise. However, both RSI lines are lower than the prior swing highs.
conclusion
On the 4-hours chart, the market token’s price activity shows lower lows. And the bulls will face a bearish weekend sell-off. In the ensuing trading session, a minor rebound is forecast.
Support level – $650 and $600
Resistance level – $1000 and $1400
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.
