- Maker rallies over 8%, trading around $1.4K.
- MKR’s daily trading volume surges by over 184%.
While the crypto market has attempted to recover from bearish pressure, uncertainty lingers, and a potential downturn persists. Assets continue to swing between breakouts and pullbacks, with Maker (MKR) defying the trend and emerging as the top gainer with a solid 8.53% jump.
MKR has kickstarted the day trading at around a low of $1,312. The asset has gradually climbed to a peak of $1,486 with the re-ignited bullish push. At the time of writing, Maker traded at $1,443, with its daily trading volume having reached $139 million.
The Maker price has surged by over 12.63% in the last seven days. The week opened trading at the $1,279 range, and the price slid to its week’s low at $1,196. Later, MKR moved to the current reading level backed by bullish momentum.
Is Maker Poised for Further Upside?
Maker’s four-hour price trajectory reveals the bull fortification triggering the price to climb toward the $1.5K range. A sustained position above the upper trendline might drive MKR to a break beyond $1,586.
Should the bears make a comeback, steering the asset downward, the Maker price could plummet to $1,392. Failing to hold this level might lead to a death cross, opening the door for a decline to $1.2K or lower.
The Moving Average Convergence Divergence (MACD) line of MKR is positioned above the signal line. This indicates a bullish crossover and the asset’s price movement might gain strength toward more upside.
Additionally, Maker is experiencing a positive inflow with the Chaikin Money Flow (CMF) indicator found at around 0.34. Meanwhile, the daily trading volume of the asset has increased by over 184%.
MKR’s relative strength index (RSI) for the day was 82.46, suggesting the asset is overbought. Its Bull Bear Power (BBP) at 232.25 implies a strong bullish momentum. If sustained, it will propel prices upward.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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