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Title: Maker: Can short-term bullishness push MKR towards $1,500?
Introduction:
As of March 31st, 2025, the selling pressure on Bitcoin led to a loss of 11% in MKR’s value. Despite this setback, the bulls are expected to regain their composure and drive a recovery.
Market Analysis:
The short-term bullishness that arose from the recent gains is likely to push MKR towards $1,500. The price action revealed a bearish swing structure coupled with a bullish substructure on the 1-day chart. This suggests that investors should be cautiously optimistic about their prospects.
Technical Indicators:
According to TradingView’s data, there are several significant indicators pointing toward a potential surge in the MKR market. Firstly, the OBV (On Balance Volume) chart showed steady buying pressure over the past month. The retracement to $1,115 in early March did not dampen the bulls’ spirits, and they have been able to maintain their momentum since then.
Furthermore, the MACD line has climbed above the zero line, although it is barely above this level. This could suggest that MKR’s buying pressure might still be a bit subdued. Additionally, if one examines the Fibonacci levels, we can see how the price has managed to climb back above 78.6% at $1,273.
Source: https://ambcrypto.com/maker-can-short-term-bullishness-push-mkr-towards-1500/
