Maker: Everything You Need to Know About MKR Moves in November
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- The Maker exchange reserve and supply ratio has reached a yearly high.
- MKR has risen by 30.8% over the past week.
Since the US presidential election, the cryptocurrency market has witnessed a significant rally, with Bitcoin [BTC] reaching a new all-time high of $89,000. This bullish trend has propelled most altcoins and memecoins to also hit new highs.
Nonetheless, some cryptocurrencies have experienced only slight recoveries despite an overarching bearish sentiment still present in the market. One notable altcoin is Maker [MKR], which shows signs of modest recovery.
As of now, Maker is trading at $1,490—a daily increase of 1.90%. Additionally, MKR has shown gains of 30.8% on weekly charts and 11.38% on monthly charts.
Despite these increasing values, MKR remains approximately 76.56% below its all-time peak from four years ago. Consequently, it significantly underperforms compared to its previous best while many investors continue to hold bearish views—evidenced by rising exchange reserves alongside the exchange supply ratio.
MKR’s Exchange Reserve Reaches Yearly High
Analysis conducted by AskFX using Cryptoquant data indicates that Maker’s exchange reserve has peaked at a yearly high as of this report.
Source: Cryptoquant.
This week saw altcoin reserves held on exchanges surge sharply after experiencing minor declines towards the close of October.
An uptick in exchange reserves typically signals growing investor wariness—a red flag for future price movements as holders prepare to exit positions early to limit potential losses.
). The FX reserve ratio simultaneously saw growth indicating an uptick in remittances into exchanges; this too achieved yet another yearly peak.
With both metrics hitting annual highs signifying increased pessimism among investors who are bracing for anticipated price drops.
What We Can Infer from MKR Charts
A rise in both FX reserve and supply ratios typically denotes investor negativity; although prices have sustained incremental increases throughout recent weeks!
The surge in ADX along with declines seen within RVGI further corroborate this scenario.
Source: Tradingview . p >
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Currently , ADX ascended from low levels around thirty-one up until thirty-five across weekly charts implying that upward momentum appears to be losing power whilst downwards pressures grow stronger . A bearish crossover noted in examination of Relative Vigor Index (RVGI) mimics similar trends observed ; crossing beyond designated signal lines denotes waning intensity leading upside momentum alterations .
This serves essentially as actionable sell directives prompting sellers themselves established control through strategy involving shorts when applicable where deemed necessary .
Read Makers Price Prediction [MKR] For The Period Of :2024 –2025.
The direction portrayed via indicators suggests imminent reversal trends overall including scope suggesting MKR priced dropping further prior exhibiting considerable strength developing enough reclaim markets backing potential upticks ahead restoring confidence once again moving forth !
If prevailing bearish sentiment persists unmitigated thus indicating solid resistance poised around recognizable threshold estimated nearby range closely aligned near1300$ Support levels respectively intact serving as barrier upholding {{~continued traceable attempts just shy nearing breakpoints claiming1600$ challenges! }} P >