The second bottom has just formed signaling a bullish trend change. Also the moving averages are about to cross forming a bullish golden cross for the first time since the crash. Both of these happening at the same exact time can be further confirmation of a successful bullish trend change Maker is already up about 20% on the week with strong momentum, volume, and relative strength.
Whale 🐋 activity has taken a larger interest with a spike in volume suggesting a bottom from whales buying the dip. The last time Maker hit this same low it was at just a week ago it was previously able to regain a price of about $1,000 very quickly within the next about 30 days. I think owning Maker at these prices is equivalent to the type of gains you would get owning Ethereum as it regains its previous highs, although Maker is only a quarter of the price of 1 Ethereum currently while they used to be fairly similar. Normally I'd see this as a red flag but whales have not lost interest or its strong community. As well as its purpose towards the overal crypto world stands strong with actual everyday high value. It seems as if Maker is one of the coins here to stay especially with the collapse of Terra Luna.
#MKR #BTC #ETH
Whale 🐋 activity has taken a larger interest with a spike in volume suggesting a bottom from whales buying the dip. The last time Maker hit this same low it was at just a week ago it was previously able to regain a price of about $1,000 very quickly within the next about 30 days. I think owning Maker at these prices is equivalent to the type of gains you would get owning Ethereum as it regains its previous highs, although Maker is only a quarter of the price of 1 Ethereum currently while they used to be fairly similar. Normally I'd see this as a red flag but whales have not lost interest or its strong community. As well as its purpose towards the overal crypto world stands strong with actual everyday high value. It seems as if Maker is one of the coins here to stay especially with the collapse of Terra Luna.
#MKR #BTC #ETH