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?

Inhaltsverzeichnis

Thecoinrepublic.com

Weitere Artikel, die am 25. Juli 2024 veröffentlicht wurden

SEC Approves Grayscale and ProShares Ethereum ETFs for NYSE Arca Listing

Forbes Attacks Harris’s Economic Policies

Marathon Digital pivots to ‘full HODL’ with its $100M Bitcoin purchase

The rise and fall of celeb tokens: Over 99% of value wiped out

Russia Legalizes International Payments in Bitcoin

Cryptocurrency Investors Face Another Disappointing Month

Abonniere unseren kostenlosen Newsletter und erhalte tägliche Krypto-Updates!