- 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
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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
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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.
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