MakerDAO (MKR) Defies Market Trend, Poised for 50% Surge
In this bearish market trend, major assets are working to gain momentum, and Makerdao (MKR) outperforms major cryptocurrencies, violating market trends. As of February 18, 2025, MKR has risen 7% in the past 24 hours, surpassing the crypto market and showing signs of a potential price rebound.
Current Price of Makerdao (MKR)
MKR is currently trading at close to $1,065, and during the same period it has attracted interest and confidence from traders and investors, resulting in a 10% increase in trading volume. This impressive price surge appears to be shifting MKR sentiment from a downward trend to an upward trend in bearish market sentiment.
MKR price action and upcoming levels
According to expert technical analysis, MKR has been in a downward trend under the channel price action mode that has been declining. However, with the recent uptrend, prices are about to get rid of this downward pattern.
Based on recent price momentum and historical patterns, if MKR violates this pattern and closes the $1,070 level above the daily candle, it is very likely to reach the $1,600 level in the future, potentially soaring 50%.
During the rally, MKR may experience a slight resistance slightly close to $1,100, as the current 200 exponential moving average (EMA) of the daily time range is located close to that level.
Bearish Chain Indicators
Investors and long-term holders have begun dumping MKR tokens after this bullish price action and recent price increases, according to Chain Analytics.com. Small shop.
Data from spot inflows/outflows suggests that the exchange has witnessed $1.85 million worth of MKR tokens over the past 24 hours, indicating a potential sell-off. Inflows of assets from wallets to exchanges are often seen as signs of potential price declines and increased sales pressure.
When these chain indicators are combined with technical analysis, it seems that assets are optimistic. However, as prices soar, it could give those who bought during the recent decline, placing the holdings they hold for profit bookings.
