• 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.  

Maker (MKR) Rallies 8%, Eyeing Key $1.5K Resistance Level image 0 MKR chart (Source: TradingView )

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.

Highlighted Crypto News

Wyoming Moves Closer to Debuting Its State-Backed Digital Asset on LayerZero by July