Flow

Value

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/makerdao-defies-market-trends" data-wpel-link="internal" rel="noopener noreferrer nofollow">MakerDAO Defies Market Trends</a><br></p>
<p style="text-align: justify">Despite recent market downturns, MakerDAO (MKR) has sustained robust performance over the past week, recording a 2.01% gain in the last 24 hours. This persistence of MKR’s growth amidst a broader crypto market decline has led to discussions regarding the underlying factors driving this resilience.</p>
<h2 id="what-are-analysts-saying">What Are Analysts Saying?</h2>
<p style="text-align: justify">Crypto analytics firm IcryptoAI highlighted that Smart Money has significantly accumulated MKR in the past 24 hours, with a notable wallet holding 100.81 MKR valued at $256,860. Additionally, this wallet contains 1.59 thousand DMT, worth $144,930. Such whale transactions and continuous price volatility, especially in <a href="https://en.bitcoinhaber.net/bitcoins-existence-threatened-by-traditional-finance-warns-bitmex-founder-arthur-hayes" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>, have prompted analysts to consider MKR’s potential <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future trajectory</a>.</p>
<p style="text-align: justify">Crypto analyst @market maker has forecasted a possible rally to the $4,000 mark, noting the formation of a falling wedge and a test of horizontal resistance. A breakout could prompt a sharp rise towards this target, pointing to a bullish sentiment among <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a>.</p>
<h2 id="how-do-mkr-s-fundamentals-look">How Do MKR’s Fundamentals Look?</h2>
<p style="text-align: justify">Analyzing MKR’s charts, the Money Flow Index (MFI) stands at 72, indicating a higher buying pressure compared to selling pressure, suggesting an uptrend. The Relative Strength Index (RSI) based Moving Average (MA) shows a value of 55, above the neutral level of 50, reflecting increasing buying activity.</p>
<p style="text-align: justify">The Chaikin Money Flow (CMF) indicator also indicates positive cash inflow with a value of 0.15, pointing to potential buying pressure. According to Santiment data, MKR’s Market Value to Realized Value (MVRV) ratio is at 38.42%, implying that current investors are enjoying a 38.42% profit over their initial investment.</p>
<h2 id="user-usable-inferences">User-Usable Inferences</h2>
<ul>
 <li>Smart Money accumulation of MKR suggests confidence in its potential growth.</li>
 <li>A breakout from the falling wedge pattern might trigger a significant price rally.</li>
 <li>High MFI and positive CMF values indicate strong buying pressures.</li>
 <li>An MVRV ratio of 38.42% shows substantial profitability for current investors.</li>
</ul>
<p style="text-align: justify">As of now, MKR is trading at $2,528, following a 3% drop in the last 24 hours. Its market capitalization is $2.34 billion, with a 24-hour trading volume of $90.6 million, reflecting a 40% decrease.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/makerdao-defies-market-trends" data-wpel-link="internal" rel="noopener noreferrer nofollow">MakerDAO Defies Market Trends</a></h5>

MakerDAO Defies Market Trends

Obsah

BH NEWS

Ďalšie články zverejnené 28. 6. 2024

MoonBag Meme Coin's Star-studded Presale Sees $3 Million Raise in a Month, While IMX and RNDR Hit...

Coinbase Sues U.S. SEC and FDIC Over Denied Document Access

Quant (QNT) Tumbles, Uniswap Climbs: Can BlockDAG’s $2 Million Giveaway Be the Next Big Thing?

ChatGPT Reveals 5 Altcoins Set for Massive Profits by the End of June

Solana ETF: Bloomberg Analyst Highlights Odds Of SOL ETF Approval

Seeking High ROI & Passive Income? MoonBag Presale Crushes Render & Ripple in Top Crypto Presale!

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!