Maker (MKR) Stays Off Bitcoin’s Effect

The crypto market largely has a bearish tone because Bitcoin is currently retracing to lower price levels. However, the Maker market appears to diverge from this trend, as it remains generally afloat and continues to hold some gains at the time of writing.

Maker Statistics

Current Price: $2,136

Market Capitalization: $1.79B

Circulating Supply: 847.22K

Total Supply: 1M

CoinMarketCap Rank: 3,203

Key Price Levels

Resistance: $2,250, $2,500, $3,000

Support: $2,000, $1,750, $1,500

Maker Bulls Stand Strong

Price activity in the MKR/USDT market remains largely stable. Currently, the market is holding a gain of 3.04%. Additionally, the most recent price candle on the chart has appeared above the 9-day EMA line. Although this candle is red, it has a contracted upward body, indicating ongoing bullish activity.

Furthermore, the Moving Average Convergence Divergence (MACD) indicator lines are positioned above the equilibrium level and are maintaining an upward trajectory. Similarly, the histogram bars of the MACD remains green and above the equilibrium level, which signals that despite minor downward retracement, bullish momentum is still dominant.

MKR Holds Firm Above $2,000 Baseline

Price action in the 4-hour Maker market remains elevated above key support thresholds. Even in this timeframe, price activity is above the 9-day EMA line. However, the last two price candles on this chart are red, suggesting some minor setbacks in the price movement. Notably, these candles have small body sizes, indicating limited selling pressure.

Nevertheless, the MACD indicator lines remain above the equilibrium level. An upward crossover has recently occurred, and the lines are continuing to rise. This suggests that the market is shaping up to potentially test the $2,250 resistance level in the near term.

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