Maker (MKR) is being traded at $1,702.22, reflecting a slight daily increase of 0.22%. An intraday high of $1,796.85 was reached by the token. At the same time, the global cryptocurrency market capitalization experienced a 0.71% rise, surpassing $3.35 trillion. MKR has been positioned at the 59th rank, with its market capitalization recorded at $1.44 billion and a fully diluted valuation (FDV) of $1.7 billion.
An unlocked market capitalization of $1.54 billion has been recorded for MKR, with its 24-hour trading volume reaching $62.52 million. A volume-to-market cap ratio of 4.25% has been observed, suggesting strong liquidity. The total value locked (TVL) within the network stands at $5.66 billion. With a market cap to TVL ratio of 0.2573, MKR is being perceived as undervalued in comparison to the value of assets secured on the network.
Will MKR Break Out or Face Another Rejection?
On the technical chart, resistance for MKR has been established near the $1,730 mark. This level has been tested multiple times, though a breakout has not yet been achieved. Should bullish momentum succeed in surpassing this barrier, the subsequent target is projected near $1,796. On the downside, support has been identified around $1,688, and a drop beneath this threshold may lead the price toward $1,650. Currently, MKR is being traded at $1,716, fluctuating between these significant price levels.
An RSI value of 45.53 has been recorded, while its average line reflects a reading of 45.44. These figures suggest neutral market momentum, with no clear dominance by either buyers or sellers. However, an upward slope in the RSI curve is being observed, indicating a possible recovery. Nonetheless, the momentum is likely to remain weak unless the RSI decisively crosses above the 50 level.
Further insight is provided by the moving averages. The 9-period EMA has been positioned at $1,728, just beneath the 21-period EMA, which is at $1,730. This minimal difference indicates a phase of consolidation. However, the recent crossover of the 9-EMA falling below the 21-EMA points to short-term bearish sentiment. Unless a reversal of this crossover occurs, upward momentum is expected to remain limited.
Increased activity near recent lows has been indicated by volume bars. However, in the absence of steady buy-side volume, the likelihood of a sustained rally remains uncertain. A breakout above the resistance level, accompanied by rising volume, would be required to confirm a resurgence in bullish sentiment.
Maker is currently trading within a narrow range, with conflicting indicators in play. Strong resistance levels and a subdued RSI are restricting upward momentum. However, broader bullish trends in the overall cryptocurrency market could potentially shift the balance in favor of buyers. A clear breakout above the $1,730 mark would be viewed as a crucial signal for MKR’s next upward move.
 is being traded at $1,702.22, reflecting a slight daily increase of 0.22%. An intraday high of $1,796.85 was reached by the token.){kind=link}