The MKR price began the March trade with a healthy consolidation just above the $2000 levels. Woefully, the price slid close to $1900 and later below $1800. The asset may ignite a notable flip very soon that could uplift the price above $2000 initially and later aim at the next resistance levels.
If the market sentiments change for a while, then the asset may attempt to ignite a decent uptrend towards $2200 initially. However, if the strength of the rally gets intensified, then the possibility of the asset hitting $2500 by the end of the month is also pretty high.
After undergoing a gigantic rally in 2021, Maker remained within the consolidated range since the beginning of 2022. Moreover, it also witnessed a couple of steep falls which compelled the price to trend below $2000 levels. However, a significant trend reversal may be expected in the upcoming quarter that could uplift the price from the bearish zone.
The mandatory resistance level is around $3100 which could be tested and cleared in the second half of 2022. Further to which a healthy uptrend may be imminent. However, a similar bull run as in 2021 may not mirror again, but a strong upswing may help attain levels around $3200 to $3500 by the end of the year 2022, with the bears being passive.
Additional Read: Top 10 DAO tokens by Market Capitalization
Date | All-Time High | All-Time Low | Market Capitalization |
14 March 2022 | $1782 | $1672 | $1.71B |
13 March 2022 | $1784 | $1673 | $1.69B |
12 March 2022 | $1798 | $1738 | $1.72B |
11 March 2022 | $1797 | $1702 | $1.71B |
10 March 2022 | $1918 | $1760 | $1.74B |
09 March 2022 | $1925 | $1741 | $1.74B |
08 March 2022 | $1794 | $1717 | $1.71B |
Source: Tradingview
MKR and AAVE are the two popular DAO or Decentralized Autonomous Organization which works for the betterment of the platform. It works as an investment firm that redistributes the funds on the projects depending on the votes. MKR and AAVE underwent a similar trend, to begin with, the yearly trade.
Woefully, the AAVE price underwent a notable correction and still maintains a silent and weak trend compared to that of MKR. The MKR price currently maintains a slight upper hand and trades just 1.33% below the average levels. Whereas the AAVE price has drowned massively to trade nearly 21.15% below the average levels.
Additional Read: Maker Technical Analysis
Source: Tradingview
The MKR price paired with USDT or BTC displayed a huge bullish momentum during the previous month. However, both pairs are currently trying very hard to halt the bearish trend. Yet the BTC pair appears to be slightly bearish than the USDT pair. But the BTC pair showcases its tendency to surpass the USDT pair yet again.
The MKR/USDT pair is just 1.60% below the average levels while the MKR/BTC pair is nearly 5.53% below. However, the USDT pair appears to be on the verge to face an interim pullback, whereas the BTC pair is heading strongly towards the north. The bullish volume has intensified a little and hence a minor upswing may be expected.
MakerDAO Proposes Next-Generation Decentralized Workforce
The platform was recently proposed to enable the generation of DAI through the Maker Protocol.
Source: Twitter
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