- MKR holds above major moving averages, confirming bullish market structure.
- Rising volume and RSI spike signal strong buyer momentum underway.
Maker (MKR) has shown strong bullish momentum following a month-long consolidation period. Crypto analyst Daan Crypto Trades noted on July 18, 2025, that MKR had been trading in a tight consolidation range for over a month. According to his analysis, the price had formed a clear compression pattern on the daily chart, with horizontal resistance around $2,070.
Daan emphasized the importance of this structure, highlighting it as a typical precursor to a breakout. He also pointed out that MKR’s price remained above both the 50-day and 200-day moving averages, a historically bullish technical signal.
Trading volume during this period remained steady, suggesting accumulation rather than distribution. This constant activity often reflects investor confidence building ahead of a move.
Daan projected that if the breakout confirms, the next price targets could reach the December highs near $2,500, with a longer-term resistance zone at $2,820.
MKR/USDT Breaks Resistance with Rising Momentum
At press time on July 18, 2025, Maker had already broken above the key $2,070 resistance level, climbing 3.63% to $2,191.5. This breakout followed a strong bounce from the $1,850 support level, where MKR recently found a base after a brief dip. The price then surged through $2,050 resistance with solid momentum, driven by increasing trading volume, a strong signal of buyer control.
Technical indicators now show bullish strength. The Relative Strength Index (RSI) has risen to 76.02, placing MKR in overbought territory.
While this suggests high momentum, such levels often precede short-term pullbacks or price consolidation. Analysts note that key support levels now stand at $2,050 and $1,850, while $2,200 is the next immediate resistance.
What Traders Should Watch Next
Market participants are closely monitoring the $2,200 level. A confirmed breakout above this point could clear the path for further gains toward $2,500 and beyond. Daan Crypto Trades suggests that a decisive close above $2,200 would validate the breakout thesis, increasing the probability of a move toward $2,820.
However, traders are advised to watch for potential short-term pullbacks, especially with the RSI in overbought territory. Maintaining support above $2,050 will be crucial for bulls. As volume and price action continue to align, MKR remains on watch for a potential sustained rally.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
