Maker is an Ethereum-based smart contract platform that has performed reasonably well in the last two years, despite price crashes and volatility of the crypto market. In fact, it has found strong support, which kept it from sinking for more than a year now, keeping its price above $500 almost constantly during this time.
At the time of writing, the project sits at the 21st spot on the list of largest cryptocurrencies by market cap. Its market cap is currently at $553 million, while the coin's price stands at $553.49, after growing by 1.09% against USD.
While MKR may have found its bottom at $500, many are still interested in how high the coin may go in the future, which is what we will try to determine today. However, first, let's take a look at how it performed until now.
Maker was launched in late January 2017, and for the first half of the year, its price went from $24.31 to $290. After that, in early September 2017, the coin experienced a mild drop to $251, although it grew back to $279 by the second half of November.
Then, in early December 2017, its surge finally began, taking the coin to $1,645 by January 22nd. This was the coin's all-time high (ATH), and it represents its highest achievement to date, even though it did not last very long. The coin started dropping after only a few days at this level, reaching $1000 two weeks later. Briefly, it appeared as if this level might be strong enough to stop MKR from dropping, but it failed to do so for long.
By April 1st, 2018, MKR hit $500, which has been its strongest support ever since. Immediately after that, the coin surged once again, and it even managed to reach and breach the resistance at $1,000. Eventually, the resistance was too strong, and it forced it back to $500.
Over the next year and a half — to this very day — Maker has been fluctuating between $500 and $700, sometimes going above or below these two levels, but mostly being contained within them. The coin experienced its greatest stability after the end of 2019 bull runs, during the summer, when its price remained extremely close to $500, barely going up or down at all. Even now, MKR is only $54 above this level, which is not unusual for one of its fluctuations.
As far as anyone can tell, MKR likely won't go below $500, no matter what happens. As for its probing of large resistances, the project had attempted to rise many times, although only briefly, before it was pushed back down.
As such, it shows the will to grow, although a relatively weak one, and it likely won't return to $1,000 or higher unless BTC itself starts leading a major rally.
With the end of the year being ever-closer, and Bitcoin still isn't making any moves up, many have started doubting that it will. If not, there is always 2020 that could lead to a new bull run or two. As for Maker, however, the coin has proven that it is a follower of the market trends, but not their maker.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | BTC | Bitcoin predictions | 86.4% | 24 | $62 406.70 | -2.33% | -5.53% | $1 228 892 732 126 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ETH | Ethereum predictions | 80% | 38 | $3 184.54 | -3.94% | -0.66% | $388 688 958 746 | ||
3 | USDT | Tether predictions | 91.6% | 1 | $1.000007 | 0.03% | -0.06% | $110 563 650 655 | ||
4 | BNB | Binance Coin predictions | 84.8% | 19 | $587.53 | -2.18% | -2.68% | $86 712 808 264 | ||
5 | SOL | Solana predictions | 64.4% | 75 | $135.06 | -6.06% | -12.18% | $60 407 640 358 | ||
6 | USDC | USD Coin predictions | 93.6% | 2 | $1.000100 | -0.01% | 0% | $33 531 546 023 | ||
7 | XRP | XRP predictions | 70% | 61 | $0.502506 | -3.97% | -5.74% | $27 756 387 261 | ||
8 | DOGE | Dogecoin predictions | 62% | 74 | $0.141564 | -5.68% | -12.00% | $20 396 783 351 | ||
9 | TON | Toncoin predictions | 66.4% | 62 | $5.27 | -4.94% | -14.31% | $18 298 832 899 | ||
10 | ADA | Cardano predictions | 62.8% | 73 | $0.450781 | -5.01% | -11.15% | $16 067 265 746 | ||
11 | SHIB | SHIBA INU predictions | 61.6% | 82 | $0.000024 | -6.17% | -13.72% | $13 853 039 383 | ||
12 | AVAX | Avalanche predictions | 62.8% | 82 | $33.23 | -5.07% | -13.78% | $12 582 203 370 | ||
13 | WTRX | Wrapped TRON predictions | 87.6% | 18 | $0.118690 | -1.55% | 6.35% | $10 391 961 236 | ||
14 | TRX | TRON predictions | 83.2% | 21 | $0.118623 | -1.69% | 6.50% | $10 386 075 354 | ||
15 | STETH | Lido stETH predictions | 92.4% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2024 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.