Crypto Market Revival Sees MKR Rise 10+% In The Last 24 Hours
2022.09.27 10:25
Crypto Market Revival Sees MKR Rise 10+% In The Last 24 Hours
- MKR is currently trading at $756.58 after a 10.94% increase in price.
- The price of MKR has been able to break above the 9 and 20 Exponential Moving Averages.
- The 9 EMA may cross above the 20 EMA to signal another bullish flag.
According to the crypto market tracking website, CoinMarketCap, Maker (MKR) is currently trading at $767.89 after a 11.17% increase in price over the last day, at the time of writing. During this time period, MKR’s price was able to reach a high of $758.67 and a low of $682.02. In addition to this, the coin’s price is still up more than 20% over the last seven days.
Daily chart for MKR/USDT (Source: CoinMarketCap)
When compared to (BTC) and (ETH), MKR has strengthened 3.14% and 3.32% respectively.
MKR is part of the top 100 biggest cryptocurrencies in terms of market capitalization according to CoinMarketCap. Its market cap of $738,690,551 makes it the 58th biggest crypto project, placing it right after USDD in the 59th position.
At the time of writing, MKR’s 24 hour trading volume was down less than 2% and stood at $43,509,270.
Looking at the daily chart for MKR/USDT, the price of MKR has been able to break above the 9 and 20 Exponential Moving Averages (EMAs) in its latest bull rally that has taken place over the last 5 daily candles and which looks to continue today.
MKR’s price move is also being supported by the Relative Strength Index (RSI) indicator that has bullishly crossed above the RSI SMA line. In addition, it looks as though the 9 EMA may cross above the 20 EMA to signal another bullish flag.
Maker is an ERC-20 token and is native to the Maker Protocol, which is a decentralized finance (DeFi) project that is also known as the Multi-Collateral Dai (MCD) system which makes it possible for users to leverage assets in order to generate Dai.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
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