Maker’s price has jumped 10% in the last day, making it the biggest gainer in crypto right now. MKR sits at $1,114.41 at writing, with trading volume up 5.16% – showing good market interest. The price rise lines up with technical breakouts and big investors buying more.
The CVD leaderboard shows Smart Dex Traders and Whales are buying up MKR across different timeframes. These big players are dominating the buy side on decentralized exchanges, which supports a bullish outlook.
With buy volume beating sell volume from these wealthy traders, MKR sits in what analysts call the SDT Accumulation Zone. This means big institutional traders are positioning themselves for more price increases.
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What you'll learn 👉
Maker Technical Analysis: Breakout and Key Resistance Levels
MKR’s price action shows a breakout from a descending channel, suggesting a potential trend reversal. The breakout occurred above a key resistance level of $1,070, which has now turned into a support zone. Technical analysis suggests that if bullish momentum persists, the next resistance level lies between $1,300 and $1,350, indicating a possible 50% price increase.
Elite analyst World Of Charts noted on X that MKR’s price was initially analyzed at $1,070, and within hours, the price surged to $1,132, yielding a 10% gain. The trader further emphasized their confidence in the ongoing rally while pointing out that many other traders are facing losses.
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Spot Demand and Market Conditions Favor Further Gains
Additional market indicators reveal that MKR’s surge is largely driven by spot market demand rather than leveraged speculation. Top analyst Kiyotaka pointed out that despite a broader market downturn, MKR has reclaimed the $1,100 level, marking a two-week high.
The tweet also highlighted that negative funding rates and historically low open interest suggest a short squeeze scenario, where traders betting against MKR may be forced to cover their positions, further fueling the price rally.
Open interest on derivative platforms is at a 1.5-year low, signaling a decline in leveraged positions. Meanwhile, Cumulative Volume Delta (CVD) data confirms that spot buyers are in control, reinforcing the argument that MKR’s price movement is supported by real demand rather than speculative trading.
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Maker keeps showing strong upward momentum, supported by institutional buying, spot market demand, and breaking through key technical levels. The price has pushed past $1,100, and if things keep going this way, it might test the $1,300-$1,350 range next. With negative funding rates and reduced leverage, market conditions favor further upward movement. Traders and investors are closely watching to see if Maker’s price can sustain its rally amid broader market volatility.
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