CandleFocus Maker (MKR) Falls to 12-Month Low, Sets Sights On $511
2024-10-18
Author: Content Editor
The price of MKR, the governance token of stablecoin lender MakerDAO, has experienced a sharp decline and is currently at its lowest price since September 2023. The downward trend is being attributed to MKR trading below its Ichimoku Cloud and a lack of new demand in the market. The plummeting Chaikin Money Flow also indicates weakening buying pressure and growing selling momentum. Based on the altcoin's Fibonacci Retracement tool, the price of MKR could fall towards $511, its lowest level since May 2023. However, if market sentiment shifts from bearish to bullish, there is a potential for a rally towards $4,118.
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