Market Overview: Maker (MKRUSDT) Dips Sharply Amid High Volatility

• Maker (MKRUSDT) fell 9.6% in 24 hours, driven by a sharp selloff from $1,598 to $1,491.
• A bearish engulfing pattern formed on the 15-minute chart at the high of $1,598, signaling a potential reversal.
• RSI dropped below 30 in the latter half of the session, indicating oversold conditions.
• Volatility spiked during the sell-off, with a 15-minute range of $1,598 to $1,491.
• Price consolidated near the 20-period Bollinger Band lower boundary in late trading.

Market Overview

Maker (MKRUSDT) opened at $1,584.8 on 2025-08-24 at 12:00 ET, reached a high of $1,598.2, and closed the 24-hour period at $1,493.1 as of 12:00 ET on 2025-08-25. Total volume for the session was approximately 9,287.03 MKR, and notional turnover amounted to about $14,713,225. The sharp selloff was concentrated between 19:45 and 20:30 ET on 2025-08-24.

Structure & Formations

The price structure showed a bearish engulfing pattern at the peak of the session, confirming a potential reversal from the $1,598.2 high. This was followed by a rapid pullback to the 15-minute Bollinger Band lower boundary, suggesting a strong short-term bearish bias. A key support level appears to have formed near $1,491–$1,518, with a 61.8% Fibonacci retracement level also clustering in that range. A reversal from this zone could signal a potential bounce.

Moving Averages

On the 15-minute chart, the 20-period moving average dipped below the 50-period line, confirming a bearish crossover. On the daily chart, the 50-period MA remains above the 100 and 200-period lines, indicating a potential longer-term bearish trend. The price closed below the 50-period MA, reinforcing the short-term bearish momentum.

MACD & RSI

The MACD turned negative during the sell-off, with a bearish crossover occurring at the time of the bearish engulfing pattern. RSI dropped sharply below 30, signaling an oversold condition that may not necessarily lead to a reversal, especially if bearish pressure continues. However, a rebound in RSI could suggest short-term exhaustion of the sell-off.

Bollinger Bands

Volatility surged with the price breaking the upper Bollinger Band at $1,598.2 before falling back into the lower band by the end of the session. This expansion suggests increased market uncertainty. Price settled near the lower band in the final hours, indicating potential for a bounce, but only if bullish momentum builds.

Volume & Turnover

Volume spiked significantly during the sell-off phase, particularly during the 15-minute candle that closed at $1,544.8, which had a volume of 208.92 MKR. Turnover aligned with the price drop, with no major divergence between volume and price. This suggests that the selloff was supported by conviction rather than forced liquidation or wash trading.

Fibonacci Retracements

Applying Fibonacci to the 15-minute move from $1,598.2 to $1,491.8, the 61.8% retracement level sits at $1,547, which may act as a potential resistance on any short-term bounce. On a daily scale, the 61.8% retracement level of recent bearish moves remains a critical point to monitor for further bearish or bullish continuation.

Maker could test the $1,518–$1,491 support zone in the next 24 hours. A break below this range could see further downside toward $1,400. However, a strong rebound in RSI and volume may suggest short-term stabilization. Investors should remain cautious about market volatility and avoid overextending long positions without clear confirmation of a reversal.