- Maker (MKR) trades at $1,702.22 with a 0.22% daily gain.
- 9-EMA crossed below 21-EMA, suggesting short-term weakness.
Maker (MKR) trades at $1,702.22, registering a modest 0.22% daily gain. The token reached an intraday high of $1,796.85. Meanwhile, the global crypto market cap surged by 0.71%, crossing $3.35 trillion. MKR holds the 59th spot in the rankings, with a market capitalization of $1.44 billion and an FDV of $1.7 billion.
MKR’s unlocked market cap is $1.54 billion, while its 24-hour trading volume has reached $62.52 million. The volume-to-market cap ratio sits at 4.25%, indicating healthy liquidity. The total value locked (TVL) on the network is $5.66 billion. With a market cap to TVL ratio of 0.2573, MKR appears undervalued relative to its locked assets.
Is MKR Set to Break Out or Stall Again?
On the technical chart, MKR faces resistance near $1,730. The price touched this level multiple times but failed to break above. If bulls overcome this ceiling, the next target lies around $1,796. Conversely, support forms near $1,688. A fall below this line could push the price toward $1,650. At present, MKR trades at $1,716, hovering between these key levels.
The RSI reads 45.53, while its average line shows 45.44. Both values indicate neutral momentum, with neither buying nor selling pressure dominating. However, the RSI curve slopes upward, hinting at a potential recovery. Momentum remains fragile unless the RSI breaks above 50 with conviction.
Moving averages add more insight. The 9-period EMA stands at $1,728, slightly below the 21-period EMA at $1,730. This narrow gap signals consolidation, yet the 9-EMA crossing below the 21-EMA recently suggests short-term bearishness. Unless this crossover reverses, upside momentum will likely stay capped.
Volume bars reveal increased activity near recent lows. However, without consistent buy-side volume, a sustained rally remains uncertain. A breakout above resistance with rising volume could confirm renewed bullish sentiment.
Maker hovers in a tight range with mixed signals: strong resistance and a weak RSI limit upside potential. However, macro bullish cues from the broader crypto market might eventually tilt the odds. A decisive move above $1,730 will be critical for MKR’s next leg upward.
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