MKR rallies over 10% as whales and smart money accumulate

MKR makes a strong comeback after months of deterioration, thanks to renewed interest rates and smart money investors.

According to Crypto.news data, Maker (MKR) jumped by 11% to an intraday highlight of $ 1,197 on February 19, which pushed his market haircut closer to the $ 1 billion. The rally was accompanied by a peak in trade volume of 28%, up to $ 189 million, with a circulating range of 845,384 tokens.

MKR was in a falling trend since the beginning of December when it was traded near $ 2,400. Although token is still falling by 81% compared to its highest highest point of $ 6,282, it has won more than 24% last week, indicating a strong recovery.

The increase seems to be mainly powered by an increase in accumulation of whales and smart DEX traders.

A recent X message from Blockchain -analyzed company ICRYPTOAI emphasizes a consistent buying pattern at smart DEX traders and whales, whereby purchase volume considerably exceeds the sales volume, that traders regard as an indicator for bullish sentiment.

In addition, cumulative volume -delta data shows that MKR is located in the battery zone of Smart Dex Traders, which means that experienced traders actively increase their participations. Historical trends suggest that when CVD rises in addition to price and trade volume, this often precedes further upward momentum.

The open interest of MKR has also risen 20% in the last 24 hours per Coinglass facts. The long/short ratio is currently 1,028. Such an increase in the OI and the dominance of long positions indicates a growing bullish sentiment among futures traders, who can support further price gains if buying pressure remains strong.

However, if leverage builds up excessively, this can also increase the risk of a long pinch.

Santiment data further reveals that weighted social sentiment for MKR has been positively reversed since 17 February, indicating that most discussions about social platforms are bullish about the price potential of Altcoin. The Community Sentiment Tracker on Coinmarketcap shows a similar trend, with 92% of more than 51K traders who are currently Bullish on MKR.

MKR Technical Analysis

On the 1-day MKR/USDT graph, the MACD lines are upset with the MACD line that is above the signal line. This suggests that buying pressure for MKR remains strong.

The Aroon -Indicator confirms this upward trend, with Aroon at 100% and Aroon with 28.57%, which indicates a dominant bullish momentum and minimal downward pressure.

The RSI is currently 58, which indicates sustainable bullish momentum and suggests that the active still has considerable room for profit, especially if supported by increasing open interest and positive technical signals.

As such, MKR could continue its meeting in the coming days before he cools down. Analysts have also expressed a bullish image for the Altcoin after it formed a falling channel pattern on the 12-hour graph.

According to an analyst, the Bullish pattern has been since December 4. according to To his prediction.

$ 1,220 serves as the next key resistance level, according to For analyst Ali Martinez, who pointed to the TD sequential indicator, who had marked a purchase signal on the daily graph. The indicator helps to spot trend covers and a purchase signal on it suggests decreasing sales pressure, so that the road is cleared for a potential price rebound.

At the time of the press, MKR traded at $ 1,170 per coin.