Maker Went Flat with a Possible Downside
Maker (MKR) is lagging behind the crypto market. The altcoin missed the October crypto rally and lost around 11.0% to $1357. It has added 2.0% in November, while Bitcoin prices rose by 8.0%. It is worth reminding that MKR prices soared by 142% from June to October. This is much above what the majority of tokens performed during the October rally, but the absence of an upside for MKR during the last month itself is a sign of weakness. Its prices are moving sideways between $1250 and $1500 during the last two months. This flat run pushed the altcoin out of the uptrend, which is alarming. Whales are leaving the network too. Internal activity metrics are at high level so far, and prices may move towards $1500 per token. But there is simply no fuel for its prices to go further up. Lastly, the MKR was mentioned in the news, was when the Hong Kong Virtual Asset Consortium (HKVAC) added the token to its indexes. The token added 6.0% a month ago on the news. This is not enough now to support its prices.
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