MAKER Token Report
The Maker (MKR) token is the governance mechanism for both MakerDAO, a decentralized organization, and the Maker Protocol, a software platform, both built on the Ethereum blockchain. These platforms enable users to create and oversee the DAI stablecoin.
MKR is ranked #71 with a market capitalization of over $1.24 billion. The current market price of the token is 1,452 USDT
The MKR/USDT price had been on a down trend since December, last year. On the daily time-frame, the trend is on the verge of breaking out of flat consolidation levels, with volume support. The RSI indicates an aggressive momentum in price. The next resistance is expected at 1,635 USDT and an immediate support is expected at 1,389 USDT.
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