Flow

Strong

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/makerdao-maintains-strong-performance-despite-market-declines/" data-wpel-link="internal">MakerDAO Maintains Strong Performance Despite Market Declines</a> 
MakerDAO (MKR) maintained its strong performance over the last 7 days despite market declines in the past 2 weeks. As of this writing, MKR gained 2.01% in the last 24 hours. MKR’s continuous rise amid the crypto market downturn has sparked speculation about the forces behind this development. 
<h2 style="text-align: justify" id="statements-from-the-mkr-side">Statements from the MKR Side</h2> 
Regarding MKR, IcryptoAI expressed the following on X: 
<blockquote> 
 $MKR topped the accumulation list by Smart Money in the last 24 hours. Currently, the wallet holds 100.81 $MKR (256,860 dollars). Additionally, the wallet contains 1.59 thousand $DMT (144,930 dollars). 
</blockquote> 
Transactions by whales and ongoing price fluctuations in the market, particularly in Bitcoin, have led some crypto analysts to discuss MKR’s potential <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">future</a>. 
For example, <a href="https://en.coin-turk.com/expect-increased-volatility-in-cryptocurrency-key-movements-in-bitcoin-ethereum-and-solana/" data-wpel-link="internal">crypto analyst</a> @market maker predicted a possible rally to the 4,000-dollar level and stated: 
<blockquote> 
 A falling wedge is forming and also testing horizontal resistance. A breakout expects a sharp rally towards 4000 dollars. 
</blockquote> 
<h2 style="text-align: justify" id="what-do-mkr-fundamentals-indicate">What Do MKR Fundamentals Indicate?</h2> 
Looking at MKR’s charts, it had a Money Flow Index (MFI) value of 72 at the time of writing. The MFI value of 72 indicates that the buying pressure is much higher than the selling pressure, which can be associated with a market uptrend. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-366200" src="https://coin-turk.com/wp-content/uploads/2024/06/mkr-1-coin-turk-com.png" alt="" width="869" height="638"> 
On the other hand, MKR’s RSI-based MA shows a value of 55 above the neutral 50, which can be interpreted as increasing purchases. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-366201" src="https://coin-turk.com/wp-content/uploads/2024/06/mkr-2-coin-turk-com.png" alt="" width="874" height="646"> 
Additionally, the Chaikin Money Flow (CMF) indicator, considered an important data provider for price changes in cryptocurrencies, indicates a positive 0.15, meaning cash inflow into the market and potential buying pressure. According to Santiment data, MKR had a 38.42% MVRV Ratio reflected in the charts. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-366202" src="https://coin-turk.com/wp-content/uploads/2024/06/mkr-3-coin-turk-com.png" alt="" width="824" height="329"> 
The existing MVRV ratio of 38.42% indicates that current <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> are 38.42% in profit compared to their purchase values. 
As of the time of writing, MKR’s price continues to find buyers at 2,528 dollars after a 3% drop in the last 24 hours. MKR’s market cap is 2.34 billion dollars, while the 24-hour trading volume stands at 90.6 million dollars after a 40% drop. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/makerdao-maintains-strong-performance-despite-market-declines/" data-wpel-link="internal">MakerDAO Maintains Strong Performance Despite Market Declines</a></h5>

MakerDAO Maintains Strong Performance Despite Market Declines

Spis treści

COINTURK NEWS

Inne artykuły opublikowane 28 cze 2024

T-Rex Group, an Exchange Traded Fund (ETF) Issuer, Applied for MicroStrategy (MSTR) Shares! Here ...

UAE Crypto Regulations Could Lead to Payment Ban, Lawyer Warns

Bitcoin Price to Hit $200K By End Of 2024 As Per Stock To Flow Model

AI Trading Exchange Raises $9.4 Million In Final Round as Polkadot and Near Protocol Holders Join

Seven Biggest Hacking Attempts of 2024 in Crypto

Bitcoin transactions are once again legal in Bolivia.

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!