Maker

Long

Show

Million

Coin

<p><strong>MKR price</strong> has escaped a three-month correction phase and gained momentum in the past few sessions. Recently, it made a triple bottom formation around the $2100 mark and saw exponential growth.</p> 
<p>Following the market recovery, it recuperated over 40% this month and climbed above its key moving averages. Furthermore, it displayed a golden crossover, and the coin is poised for a significant upmove ahead.</p> 
<p>Recently, it gave a falling wedge breakout, and a fresh bullish reversal wave was noted in the last few sessions. Notably, it has revisited the $3000 mark but failed to cross and faced rejection.</p> 
<p>Still, the buyers have gained strength and could resume the bullish wave ahead. Once the MKR price succeeds in crossing the $3050 mark, a sustained reversal may shift the coin’s trajectory toward the $3500 mark soon.</p> 
<p>The <a href="https://www.thecoinrepublic.com/price-prediction/maker/">MKR </a>coin was traded in a significant retracement phase for the past three months and was corrected over 50% from the $4000 mark. However, the signs of trend reversal were noted, and the coin could retain its gains soon.</p> 
<h2 class="wp-block-heading" id="h-how-is-mkr-price-doing"><strong>How is MKR Price Doing?</strong></h2> 
<p>At press time, the <strong>MKR price </strong>was trading<strong> </strong>at $2759.20 with an intraday surge of 2.36%, reflecting neutrality on the charts. It had a monthly return ratio of -1.90% and 1.20% yearly, reflecting long consolidation.</p> 
<p>The pair of MKR/BTC was at 0.0420 BTC, and the market cap was $2.58 Billion. Analysts were bullish and suggested that the <strong>MKR price</strong> may deliver a sharp upmove beyond the $3000 mark ahead.</p> 
<h2 class="wp-block-heading" id="h-mkr-price-action-outlook"><strong>MKR Price Action Outlook</strong></h2> 
<p>Maker coin was traded under <strong>bullish influence,</strong> signifying a fresh higher high and a volume surge. Recently, it showed a trend reversal and denoted bullish potential.</p> 
<p>A short covering move can be seen once <strong>MKR </strong>bulls succeed in sustaining beyond the $3050 mark.</p> <iframe loading="lazy" title="Santiment Chart: Price (MKR), Volume (MKR)" width="800" height="425" src="https://embed.santiment.net/chart?ps=maker&amp;pt=MKR&amp;df=2024-01-24T18%3A29%3A59.904Z&amp;dt=2024-07-24T18%3A29%3A59.904Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%2326C953%3B%23D2D6E7&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>The RSI curve stayed in the overbought zone, and a positive crossover was noted. It implied the sustained buying pressure on the chart.</p> 
<p>Moreover, the MACD indicator plotted the green bars on the histogram and indicated a significant uptrend was imminent.</p> 
<h2 class="wp-block-heading" id="h-maker-s-traders-looks-optimistic"><strong>Maker’s Traders Looks Optimistic</strong></h2> 
<p>Per the Global In/Out of the Money (GIOM), 81% of MKR addresses were making profits and looked optimistic. At the same time, only 18% of holders were facing unrealized losses.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="238" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-86-1024x238.png" alt="GIOM Indicator | Source: IntoTheBlock" class="wp-image-621531" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-86-1024x238.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-86-300x70.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-86-768x179.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-86-1536x357.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-86-150x35.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-86-696x162.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-86-1068x248.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-86.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  <strong>GIOM Indicator | Source: IntoTheBlock</strong>
 </figcaption>
</figure> 
<p>This significant holding data showed that <strong>MKR </strong>is poised for the upmove and may continue to shift the gains upward. It may stretch the bullish wave toward the $4000 mark soon.</p> 
<h2 class="wp-block-heading" id="h-surge-in-popularity"><strong>Surge In Popularity</strong></h2> 
<p>The Social dominance data witnessed a sharp rise of over 12% and rose beyond the zero line. It revealed the increase in the investors’ chatter on the social media platforms.</p> <iframe loading="lazy" title="Santiment Chart: Weighted sentiment (Total) (MKR), Social Dominance (MKR)" width="800" height="425" src="https://embed.santiment.net/chart?ps=maker&amp;pt=MKR&amp;df=2024-01-24T18%3A29%3A59.904Z&amp;dt=2024-07-24T18%3A29%3A59.904Z&amp;emcg=1&amp;emhwm=1&amp;wm=sentiment_volume_consumed_total%3Bsocial_dominance_total&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>Likewise, the weighted sentiment data witnessed a revival from the bottom and noted a rise of over 6%. This implied a change in the market dynamics.</p> 
<p>@Impluse, in his tweet, said that the MKR coin is poised for a significant upside ahead.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24MKR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MKR</a> looks quite good for a move up <a href="https://t.co/HBdkpqqX8q">pic.twitter.com/HBdkpqqX8q</a></p>— Impulse (@Impulse606) <a href="https://twitter.com/Impulse606/status/1815665565513441756?ref_src=twsrc%5Etfw">July 23, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-futures-data-witnessed-long-additions-nbsp"><strong>Futures Data Witnessed Long Additions&nbsp;</strong></h2> 
<p>Following the price rise of over 3% intraday, a significant surge in the open interest was noted. Its OI data showed a rise of over 6.80% to $142.63 Million in the past 24 hours.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="231" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-87-1024x231.png" alt="Open Interest Data | Source: Coinglass" class="wp-image-621537" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-87-1024x231.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-87-300x68.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-87-768x173.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-87-150x34.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-87-696x157.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-87-1068x241.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-87.png 1452w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  Open Interest Data | Source: Coinglass
 </figcaption>
</figure> 
<p>The liquidity data indicated that the buyers have outpaced the bears, and a significant upside can be anticipated ahead.</p> 
<p>The immediate support levels for the <strong>MKR coin </strong>at press time were $2650 and $2500, whereas the key upside hurdles were around $2860 and $3050.</p> 
<h2 class="wp-block-heading" id="h-can-maker-show-the-outperformance-ahead"><strong>Can Maker Show The Outperformance Ahead?</strong></h2> 
<p>The <strong>MKR price</strong> took support on the 20-day EMA mark and made a higher low formation in the intraday session. Its short-term trend favors the upside, and the coin could continue to blast beyond the $3050 mark.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/07/24/maker-looks-bullish-can-mkr-price-break-3000-this-month/">Maker Looks Bullish: Can MKR Price Break $3000 this Month?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Maker Looks Bullish: Can MKR Price Break $3000 this Month?

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