This Altcoin Makes a Strong Recovery, Will it Ignite a Strong Recovery After the Recent Crypto Crash?
The bloodbath on the crypto streets continues as the short-term bounces are expected to get recked very soon. Despite a small recovery above $16,500, Bitcoin price is still speculated to drop below $15,000 with th next of the capitulation phase, which has just begun.
In the meantime, the Maker (MKR) price maintains its strength and rebounds finely, recovering more than 80% of the loss incurred in the past couple of days due to Binance & FTX.
MKR’s price maintained a low-key start for the day and traded below $700 for quite a long time. However, the bears seem to be pretty exhausted which intensified the bullish activity pushing the prices higher close to the $800 level. The MKR price was trading around $835 when the crypto market crashed.
However, by registering a strong recovery, the possibility of the asset reclaiming a 4-digit level also becomes more valid.
Collectively, very altcoins are maintaining their strength amid the ongoing crypto market crash and Maker is leading them. A steep 20% recovery from the lows indicates the asset is primed to be unaffected by the market sentiments. Hence the MKR price may find a bullish close for the month and also for the year 2022.Source