- The current market price of the MKR coin is $1405.95, with a rise of 1.84% in the last 24 hours.
- The volume of the MKR coin is increasing along with the market cap and price.
Maker serves as a lending platform governed by smart contracts, allowing users to secure loans by pledging collateral and receiving Dai in return.
Originating as an open-source initiative established by the Maker Foundation in 2015, it aims to provide economic empowerment and opportunities globally.
The above chart shows that the price of the MKR coin is increasing along with the rise in the market cap and the volume of the coin.
The total volume of the MKR coin is $98 Million and it increased over 40% in the last 24 hours. The increasing volume resulted in the increase in the OI of the MKR coin by 4.03%, bringing the current OI to $62 Million.
The market cap of the MKR coin is $1.3 Billion and the market cap dominance of the coin is 0.086%.
Maker (MKR) Technical Analysis
The overall direction of the MKR coin is positive and it is trading at $1405.95, with a rise of 1.84% in the last 24 hours.
Maker coin is currently trading inside the rising wedge pattern and it has shown a reversal after hitting the support level and is now showing a turnaround. The overall structure of the coin is positive and it is expected to rise further in the upcoming days.
Technical Indicators Outlook About Maker Coin
The Maker coin’s MACD indicator is in a positive territory with a green histogram. Furthermore, the MACD line consistently stays above the SMA line, indicating a favourable trend and increasing the likelihood of a price uptick.
The RSI line for the MKR coin is currently trading at 54 level and the SMA line is placed at 48 level. The RSI is above the SMA line and it is considered a positive signal.
Conclusion
The price of the Maker coin is currently trading in the rising wedge pattern. The price has shown a reversal after hitting the support level and is now showing a turnaround. The overall structure of the coin is positive and the price is expected to rise further in the upcoming days.
Technical Levels
- Support Levels: $1254 and $1188
- Resistance Levels: $1577 and $1617
Disclaimer
The views and opinions of the author, or anyone else in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.