Maker (MKR) Price Surges 25% Despite Weak Market Sentiments

• MKR price increases by 25% amid weak market, showcasing strong bullish momentum and investor confidence.
• Technical indicators indicate continued bullishness, with potential rally towards $1800 and $2000.

The broader market is on the downside where the total cryptocurrency market cap is down by 1.18% and Bitcoin is down by almost 3.24% hovering at $88,912. Moreover, the fear and greed index has also dropped suggesting fear in the market.

However, despite the weak market sentiments Maker crypto price is heading upward and showcasing solid bullish momentum. The MKR price is up by almost 25% in the last 24 hours. Around 91% of the community sentiments are bullish and only 9% are bearish showcasing buyers’ confidence in MKR crypto.

According to CMC data, at the time of writing Maker’s crypto is trading at $1691.64 with an intraday surge of 25% suggesting strong bullishness. The daily trading volume has advanced by 56.94% and the volume-to-market ratio is 20.32%. Furthermore, the market cap is $1.44 billion and the 24-hour trading volume is $294.08 million.

Will Maker Crypto Price Hit the $2K Mark?

Maker (MKR) price is heading in the upward direction breaking above the 50-day and 200-day EMA both suggesting a fresh buying momentum. The indicators also show optimistic sentiment among investors. The RSI and MACD are in bullish territory and indicate a buyer’s dominance in the Maker crypto. 

If the Maker price is sustained above key exponential averages then investors can expect a fresh rally toward $1800 and $2000. The buyers’ dominance is clearly visible on the technical as last month MKR price was up by almost 44.57% and over last week it is up by 43.29%.

Furthermore, the trading view technical summary also suggests strong bullishness. As per the technical summary of the trading view for Maker crypto, out of 26 indicators 2 are on the sell side, 8 are on the neutral side and 16 are on the buying side. 

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