Technical analysis by AlexLukyanin about Symbol MKR: Buy recommendation (12/3/2024)

MKR is the token used to vote on MakerDAO - decentralized autonomous organization controlling DAI. DAI is a stablecoin supposedly controlled by a decetralized organization instead of more cetralized competitors. Currently its market cap is around $2 Bln and DAI mcap is $5.4 bln. In the altcoin market it is quite reasonable to place a bet on stablecoins and one of the limited ways to do it is MKR.It will most likely reach the green zone which is a nice 20% trade. After that it will reach resistance both Fibonacci and that giant triangle- wise.