Maker Investors Are Uncertain Amidst Regulatory Stark Warning

Maker (MKR) investors face heightened uncertainty amidst a stark regulatory warning. ESMA’s cautionary statement specifically impacts MKR, emphasizing that investors in this crypto asset are without protection under EU rules until December 2024. The impending implementation of MiCA regulations offers little solace, as investors must brace for the possibility of losing their entire investment.

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During the fake $BTC ETF announcement pump, $MKR actually went DOWN (against USD) on the 15m candle BTC went UP 5%. Someone dumped a shitload of perps at that exact time. Did someone think ETF approval is bearish for $MKR? I can't think of any reasons why, idk. @TaikiMaeda2 pic.twitter.com/KjGFk47uIq

— Ayu Ayu (@SSnuffalupagus) October 19, 2023

https://twitter.com/Zowae_/status/1714567919395307931?t=A2sE5Ro49px3nTdKgeP6og&s=19

The lack of regulatory safeguarding intensifies concerns about MKR’s future, making it a cause for significant apprehension among its investor community. Additionally, the prolonged transitional period for crypto companies in some EU countries means MKR investors might not enjoy protection until July 2026, prolonging the bearish sentiment around the cryptocurrency.

Maker Key Levels To Watch – October 18

MKRUSD keeps rallying within an ascending channel. The rally across the ascending channel began after a sudden surge from the discount zone in June 2023. The market flipped bullish as the price headed towards the diagonal resistance.

After the bounce off the diagonal resistance in August, MKRUSD retraced into a Fair Value Gap after invalidating the low at $990.00. According to the MA Cross, the market is still bullish. MKRUSD is likely to keep heading upward as it recently bounced off the diagonal support.

MKR/USD Key Levels

Resistance Levels: $1600.00, $2280.00, $3000.00
Support Levels: $980.00, $800.00, $500.00

MKR Metrics

Total Market Capitalization: $1.06T
Maker Market Capitalization: $1.3B
Maker Volume: $47M
Market Rank: #33

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