Maker (MKR) established its all-time high at $6,012 during the beginning of May but before it could retest the ATH resistance, the market crash occurred. At the time of writing, Maker coin stands at a price level of $3,869. The price has moved up since the low of the bear market and is showing upside movement in the daily timeframe. Although, the daily trading volume has fallen by nearly 50%.
Maker crypto’s market sentiment is bullish – which is not an easy feat to achieve amidst the bear market. Out of the twenty-six technical indicators, ten are giving out a signal of buy, nine are standing at a neutral position while seven are indicating sell. The oscillators are neutral while the moving averages are majorly bullish. The indicators suggest Maker crypto may soon reverse the loss it had experienced in the bear market.
Maker crypto future
MakerDAO is a lending platform based on the blockchain of Ethereum. The project is believed to possess great potential. The DeFi platform has observed phenomenal growth in 2021 – making into the limelight. MakerDAO reached a new milestone in 2021 as the organization cross $200 million in annual income. The figure is an estimation based on the current performance but for comparison’s sake, the income averaged at $19 million in January which means a nearly 1000% increase.
For cryptocurrency, the future projections are more than bullish. Per the estimates of Wallet Investor, Maker crypto is expected to be at a price level of $6227 in a year’s time while the five-year projection estimates Maker at $19,103. Digital Coin Price also predicts high growth in the cryptocurrency’s price. The one-year price prediction places Maker at $5,722 while the five-year prediction is at $18,123. Suffice it to say, the future has great things in store for MakerDAO and MKR.
