Maker is MakerDAO’s governance coin. DAI is the native token. Maker allows DAI’s price to fluctuate to keep the stablecoin at $1. It also gives holders the opportunity to earn interest on deposits that are outstanding. Both tokens are built on Ethereum. The MKR token is attractive because it allows you to participate in managing one of the largest stablecoins. This has a positive impact on the value. The price of the asset has increased by 1.75%, while volumes have fallen by 17.78% over the past 24 hours.
MKR traded at $739 as of the writing of this article.
Price Chart for Maker (MKR).
MAKER traded in a downtrend for the past two-months. The prices fell almost 55% from $1.299 to $581, making it the lowest price since January. The asset formed an “Inverted Hammer” pattern, which indicated a bullish reversal of a short-term downtrend reversal. Prices rallied to $771. MKR is in a strong resistance zone between $700 and $675 on a daily basis (20-Day Moving Average, Horizontal Trendline). If the bulls can hold and maintain above the support, then they will resume their up-move. It must break the $795 resistance to continue rallying.
Support 2Support 1AssetResistance1Resistance 2581675MKR795895
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