Search ForexCrunch
  • MKR/USD has been outperforming the rest of the crypto market for the past month.
  • Another bull break today on June 9 took Maker up to $725 from its open price at $559.

Maker is currently trading at $710 at the time of writing after a massive 22% price surge today. This is the second significant bull breakout for Maker in the past 30 days. On May 29, MKR/USD also saw a similar move going from $344 up to $524. The digital asset started consolidating for around a week before turning bullish again. 

MKR/USD daily chart

MKRUSD

Clearly, MKR is extremely bullish right now and has broken several resistance levels. There is only one significant resistance point that MKR hasn’t cracked yet, the high of $727 set in February. Although this recent bull run looks superb for MKR, it’s important to remember the digital asset was trading at around $900 last year.

MKR/USD 1-hour chart

MKRUSD

The hourly chart shows that the majority of the surge happened in the first two hours but Maker has continued seeing gains in the last hour as well. The 12-EMA is far away and will serve as support eventually when MKR starts consolidating. 

Expert score

5

Etoro - Best For Beginner & Experts

  • 0% Commission and No stamp Duty
  • Regulated by US,UK & International Stock
  • Copy Successfull Traders
Your capital is at risk.