Ethereum exploded strongly, and the rise was surging! Maker (MKR) won $5,000!
Ethereum (ETH) broke through the downward dilemma, and Maker (MKR) ushered in a key turnaround, with a target price of $5,000, which is expected to restore market confidence. At present, 62% of MKR holders have made profits, and the recovery trend is fully demonstrated. It is closely linked to the growth path of Ethereum and has strong synergy. COINOTAG's top analyst pointed out: "The technical pattern shows that MKR's bullishness is not simply speculation, and there is a solid market indicator behind it."
The surge in Ethereum has made Maker (MKR) the focus, and MKR bid farewell to the long-term decline in 2024. Its 2025 target of $5,000 is closely linked to Ethereum's bullish trend, showing that the crypto market is revitalized. MKR is currently at $1,727.42, just experiencing a small drop of 0.69%, reflecting the volatility brought about by rapid market changes.
MKR price trend is at a critical node, breaking through the March-November 2024 downtrend, creating conditions for an upward move, as evidenced by the bullish cup-and-handle pattern on the chart. The "cup" is the accumulation period, and the "handle" is the consolidation period. It may break out later, and technical indicators are conducive to medium-term price improvement.
MKR is currently priced at about $1,746, between the key support of $1,760 and the support of $1,440. For traders, the resistance levels of $2,200 and $3,800 and the potential peak of $4,400 are of great significance. The recent golden cross formed by the 50-day moving average crossing the 200-day moving average significantly indicates its potential for bullish momentum.
Although the indicators are positive, MKR is currently trading below the 200-day moving average ($1,919), which may become a direct resistance. If it is difficult to hold $1,700, it may test the $1,500 support, and traders need to be cautious about risks.
