- Maker (MKR) gains 6.5%, trading at $1,596.96, with a market cap of $1.36B.
- Golden cross pattern and MACD suggest sustained bullish momentum.
The global crypto market cap stands at $3.18 trillion, reflecting a 0.52% rise in the last 24 hours. However, the total crypto market volume has dropped 48.17% to $68.06 billion, signaling reduced trading activity.
Amid these conditions, Maker (MKR), the governance token of the MakerDAO ecosystem is gaining momentum, rising 6.5% to $1,596.96. Its market cap has increased 6.6% to $1.36 billion, while 24-hour trading volume has declined 34.65% to $151.66 million. Maker’s fully diluted valuation (FDV) sits at $1.6 billion, with a total value locked (TVL) of $3.73 billion, placing its market cap ratio at 0.3647.
MKR is testing key price levels. The immediate resistance lies at $1,620, while support stands at $1,540. A breakout above resistance could push the price toward $1,680, while failure to hold support may lead to a decline toward $1,480.
The Relative Strength Index (RSI) is at 58, suggesting moderate bullish momentum. The RSI average confirms stability, indicating no immediate risk of overbought conditions. A move above 70 could trigger a reversal, while a drop below 50 might indicate weakening momentum.
The Chaikin Money Flow (CMF) is at 0.6, signaling strong buying pressure. This reading suggests that capital inflows significantly outweigh outflows, reinforcing a bullish outlook. The Moving Average Convergence Divergence (MACD) line remains above the signal line, confirming positive momentum. The expanding histogram further supports bullish sentiment, indicating the potential for further upside.
The 50-day moving average (MA) is above the 200-day MA, forming a golden cross a historically bullish signal. The 20-day MA is providing dynamic support, helping sustain the uptrend. The Bollinger Bands show moderate volatility, with price action approaching the upper band. If MKR breaks past $1,620, volatility may expand, fueling an upward move.
MKR maintains a bullish structure, supported by strong capital inflows and favorable technical indicators. A break above $1,620 could pave the way for $1,680, while downside risks remain limited to $1,480 if momentum weakens. With CMF at 0.6, demand for MKR remains strong, making the asset one to watch in the coming sessions.
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