Maker [MKR] takes slight dip over 5% amid bearish market: Technical Analysis
As the cryptocurrency market displays a dismal picture on the first day of the week, Maker [MKR] has posted considerable loss. With the retreat of the bulls, the entire market starting from Bitcoin to the rest, including the 20th most valuable digital asset in terms of market value, has almost succumbed to the pressure of the sellers barring few. With a dip in BTC price, the major altcoins began trading with sluggish momentum. Maker [MKR]has persistently performed moderate with the coin jumping 2.7% in the last seven days and nearly 3% in the past one month.
The MACD, at press time, shows that the digital currency is trading in the bearish zone. The 100 EMA line, at the time of writing, indicates that the coin is in downtrend. The hourly RSI indicator was found at 41.7, which suggests that the virtual currency is facing high seller pressure in the market and gradually nearing the oversold level. Going by the data from CoinMarketCap, the overall market valuation of the cryptocurrency stands at $316.35 million. The coin has slid almost 5.73% against the U.S. dollar to currently trade at $434.41.
The virtual asset has lowered nearly 5.02% against Bitcoin [BTC] and currently, one MKR is worth around 0.1214615 BTC.
Maker [MKR] Latest Updates
- In December, Coinbase Professional has announced the listing of four Ethereum tokens. In the official post, Coinbase Pro stated that Dai (DAI), Golem (GNT), Maker (MKR), and Zilliqa (ZIL) will be added to the platform but it comes with some regional restrictions. Reportedly, GNT and DAI will be available in the US, however, it will not be available in New York, in the UK, the EU, Canada, Singapore, and Australia. While, MKR and ZIL will not be available in the US but in the UK, EU, Canada, Singapore, and Australia. According to the previous announcements by the exchange, the jurisdictions might get extended later date.
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