Market Overview for Maker/Tether (MKRUSDT) on 2025-09-14

• Price opened at $1794.8 and closed at $1904.8 within a 24-hour period with a high of $1919.6 and low of $1760.5.
• A sharp upward thrust emerged after a key bearish reversal at $1767.1 on 17:15 ET.
• Volume surged on the final 15-minute candles, signaling increased conviction in the rally.
• RSI signaled overbought conditions near the peak, suggesting potential pullback risk.
• Bollinger Bands showed a recent widening, indicating rising volatility post-breakout.

Maker/Tether (MKRUSDT) opened at $1794.8 on September 13 at 12:00 ET, reached a high of $1919.6 and a low of $1760.5, and closed at $1904.8 by 12:00 ET the following day. The 24-hour notional volume totaled 919.1322 MKR, with a turnover of approximately $1,643,287 USD, based on cumulative volume and price data.

Structure & Formations

The price action displayed a distinct bearish reversal at $1767.1 on 17:15 ET, with a close near the session low. A subsequent recovery showed a strong bullish engulfing pattern forming between 19:30 and 22:30 ET, with a high of $1919.6 and a close of $1904.8. A bearish doji appeared briefly at $1834.4 during the overnight hours, suggesting indecision before a final bullish reversal took hold. Key support levels include $1767.1, $1784.4, and $1800.0, while resistance is now at $1919.6, with the next potential ceiling likely near the 20-period moving average.

Moving Averages & Momentum

On the 15-minute chart, the 20-period and 50-period moving averages are trending upwards, indicating sustained bullish momentum. The 20-period MA currently sits at approximately $1855, while the 50-period MA is around $1865. On the daily timeframe, the 50-, 100-, and 200-period moving averages are aligning in a bullish convergence. This suggests continued support for higher prices, particularly if the pair holds above $1850 in the near term.

MACD is in positive territory with a strong histogram divergence, confirming a powerful upswing. RSI reached overbought levels above 70 multiple times, most recently at $1919.6, signaling caution. Traders may expect a near-term correction or consolidation before further upside potential.

Bollinger Bands & Volatility

Bollinger Bands expanded significantly during the late night hours, reflecting increased volatility as prices surged past key resistance. By 05:45 ET, the price was trading near the upper band, with the midline at approximately $1850. The widening of the bands confirms heightened market activity and growing conviction in the bullish move. If the current momentum stalls, prices may retreat into the middle band before finding renewed strength.

Volume & Turnover

Volume spiked sharply during the late evening hours, particularly in the final 15-minute candles before 06:15 ET. The most active candle recorded a turnover of $2,093,521 USD at $1902.7, with 231.8745 MKR traded. This volume spike aligns with the price break above $1900 and reinforces the likelihood of a sustained move higher. However, no clear divergence between volume and price was observed, indicating that the buying pressure was consistent.

Fibonacci Retracements

Fibonacci levels on the 15-minute chart highlight key retracement zones. A critical 61.8% level was observed near $1850, which the price retested before surging again. On the daily chart, the 38.2% and 61.8% retracement levels align with $1810 and $1767, respectively, both of which were tested and held. These levels may serve as psychological barriers for near-term support and resistance.

Backtest Hypothesis

A potential backtest strategy could focus on the convergence of the 20- and 50-period moving averages as entry triggers, with stops placed just below key Fibonacci retracement levels. Given the sharp 15-minute volume spikes and bullish engulfing pattern, a rule-based system could enter long positions on a close above $1865, with a profit target aligned with the 61.8% Fibonacci extension near $1930 and a stop at $1820. This approach would aim to capture the continuation of the breakout with a defined risk-reward profile.