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Maker has been among the top gainers in the crypto charts during the past 24 hours. The token has made double-digit gains during this time but is still far from its May highs of beyond $6K. Nevertheless, it has been among the top trending coins during the past 24 hours.
Maker is trading at $3297 at the time of writing after a 27.7% gain in 24 hours.
Maker price analysis
Maker has been making some bullish gains during the past 24 hours. During the 24-hour bullish rally, the altcoin reached the highs of $3400, which have been attributed to the increased buyer and market support.
The market support is currently very high, given that bitcoin and ethereum are still heading towards new highs. Therefore, if MKR can rally again, it could push to the next major resistance at $3300. This could set the next target of $3400, which is currently a monthly high for the altcoin.
Despite these gains, the hourly records show some dips, hence the decline in prices towards the current lows. If the dips continue, the token could head towards the lower levels of around $3100. Before it started gaining during the past 24 hours, the coin was trading at around $2500, which it could dip to in case of any further loss of support.
Maker is one of the popular networks in the decentralized finance sector. MKR tokens power the MakerDAO ecosystem, and this has played a role in giving MKR tokens great values. The DeFi sector has been growing in terms of value and popularity. If Maker can continue gaining adoption from DeFi developers, the utility for MKR tokens is expected to increase, which will positively affect prices.
Where to buy MKR
If you want to buy MKR tokens, you can create a cryptocurrency exchange account on eToro. eToro is one of the leading exchange platforms, and it comes with friendly features for all traders, including copy trading and low trading fees. eToro is also ideal for portfolio diversification because it offers support to many cryptocurrencies and trading pairs.
Your capital is at risk.
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