The Maker (MKR) token price surged over 44% last week. Despite significant sales by large investors, on-chain and technical analysis data support a positive outlook for MKR.
Maker Derivatives and On-Chain Analysis
The MKR token experienced significant growth, rising over 44% in value despite market trends. Coinglass data indicate a substantial spike in open interest for MKR on derivative exchanges, reaching $116.85 million. The total value of assets locked in MKR increased to $5.675 billion. Santiment data shows negative spikes in the realized profit/loss metric, indicating potential capitulation and readiness for price recovery.
Maker (MKR) Weekly Price Forecast
Since February 12, 2025, MKR's price has been steadily increasing, reaching $1,473. Breaking through resistance levels at $1,632 and $2,050 could indicate continued growth, with potential support at $1,125 in case of a correction. Technical indicators like MACD and RSI confirm MKR's positive momentum. Sales by large holders did not negatively affect the token's price.
MKR Holds Steady Amidst DAO Drama
The Sky Protocol community is debating a proposal to relax borrowing conditions against MKR tokens. Some community members argue that the proposed changes could double the credit line for MKR holders. Despite the ongoing debate, the token's price continues to rally. Furthermore, $17 million worth of MKR tokens were burned this week, supporting price gains.
MKR maintains stability amid volatility, supported by on-chain and technical data. The steady growth reflects investor confidence in the token's long-term prospects.
