Maker

Bitcoin

Coin

<ul class="news-points"> 
 <li>MKR could not hold on to the $1,650 yearly high after the resistance at $1,600 took over.</li> 
 <li>Although the RSI signaled a bullish momentum, MKR was becoming slightly weak.</li> 
 <li>Should buying pressure persist, MKR may inch toward $1,600 one more time.</li> 
</ul> 
The price of <a href="https://coinedition.com/maker-protocols-annualized-revenues-soar-to-all-time-high/">Maker (MKR)</a> briefly tapped $1,650 in the early hours of October 24. The value was the highest price the token has reached throughout 2023. On a 90-day basis, Maker’s price has increased by 35.82%, almost double the performance of Bitcoin (BTC) within the same period. 
On the daily timeframe, MKR has only begun recovering from a market structure dominated by sellers between October 1 and 12. Because bulls were not entirely in control, MKR got rejected from the aforementioned hike and was back to changing hands below $1,600. 
However, there is a strong support at $1,374. So, if sellers can increase their presence, MKR may still have the strength not to drop below $1,450 to $1,500. Meanwhile, the daily chart also showed that the token’s volume increased briefly during the jump to $1,650. 
However, the decline in volume, alongside the price increase means bullish momentum could be waning. Therefore, an inc…
The post <a rel="nofollow" href="https://coinedition.com/makers-mkr-yearly-high-hit-indicates-caution-heres-why/">Maker’s (MKR) Yearly-High Hit Indicates Caution, Here’s Why</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

Maker’s (MKR) Yearly-High Hit Indicates Caution, Here’s Why

Coin Edition

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