The value of MKR, the governance token of the stablecoin lending platform MakerDAO, has surged by almost 10% in the past 24 hours and...
, the governance token of the stablecoin lending platform MakerDAO, has surged by almost 10% in the past 24 hours, and appears primed to extend its gains this week.data, MKR exchanged hands at $3,246 at press time. A double-digit uptick in trading volume has accompanied the price rally in the past 24 hours.An assessment of some key technical indicators hinted at the possibility of further growth in MKR’s price.
Within the same period, MKR’s MACD line has rested above its signal line, confirming the bullish trend in the token’s spot market. This is a bullish sign, as it indicates the re-emergence of the bulls and a rise in accumulation pressure. Likewise, MKR’s Chaikin Money Flow laid above the zero line, and trended upward at the time of writing. A positive CMF value is a sign of strength in the market.
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