- Maker (MKR) has rallied over 6%, holding steady near the $1.8K zone.
- Daily trading volume surged by 31%, reflecting heightened investor interest.
The crypto market's recent recovery has pushed its total capitalization to $3.36 trillion, propelling major assets into bullish territory. Among altcoins, Maker (MKR) stands out with a 6.03% gain in the past 24 hours.
Current Market Performance
After dipping to a daily low of $1,752, MKR rebounded sharply, peaking at $1,959 and breaking key resistance levels at $1,805 and $1,927. This sustained upward momentum suggests potential for prolonged bullish activity.
As of now, Maker trades at $1,876**, with a market cap of **$1.56 billion. Trading volume spiked by 31.19% to $87.27 million, indicating strong liquidity.
🚀 Weekly Growth: MKR surged 26% this week, climbing from $1.4K to its current level.
Technical Analysis: Bullish Signals Ahead
Key Indicators
- MACD: The Moving Average Convergence Divergence line above the signal line signals buying momentum.
- RSI: At 59.16, the Relative Strength Index suggests moderate bullish sentiment—further RSI growth could amplify gains.
- Bull Bear Power (BBP): A reading of 76 confirms strong bullish pressure.
👉 Explore real-time MKR price trends
Potential Scenarios
- Upside: A correction toward $1.9K** could trigger a golden cross, targeting the **$2K psychological barrier.
- Downside: If bears dominate, MKR may retreat to $1,775**. Losing this support might plunge prices to **$1.6K or lower, especially if a death cross emerges.
FAQs
Q: What’s driving MKR’s recent surge?
A: Broader crypto market recovery, breaking key resistances, and increased trading volume are primary catalysts.
Q: Is MKR overbought?
A: With an RSI of 59.16, MKR isn’t overbought yet but could enter that zone if momentum continues.
Q: How does Maker’s liquidity compare to other altcoins?
A: Its $87M+ daily volume positions it among top-tier altcoins with strong investor participation.
👉 Dive deeper into altcoin strategies
Market Sentiment
The Chaikin Money Flow (CMF) at -0.07 hints at slight selling pressure, but the overall technical outlook remains bullish.