Market Overview for Maker (MKRUSDT): Strong Bullish Momentum Amid Elevated Volatility

• Maker (MKRUSDT) closed near the 24-hour high at 1502.7, showing bullish momentum after a sharp late-day rally.
• Key support levels appear at 1480–1485, while resistance is forming near 1505–1515 on the daily timeframe.
• Volatility expanded significantly in the afternoon, with large volume spikes during the upward push.
• RSI and MACD both indicate strengthening bullish momentum, though overbought conditions may emerge in the next 24 hours.
• Bollinger Bands show price near the upper band, signaling a potential consolidation or pullback may follow.

Market Overview

Maker (MKRUSDT) opened at 1488.5 on August 25 at 16:00 ET and closed at 1502.7 at 12:00 ET on August 26, hitting a high of 1566.0 and a low of 1460.5. The total traded volume over the 24-hour period was 4,470.62 MKR, with a notional turnover of $6,685,675.

Structure & Formations

The price of Maker exhibited a clear bullish trend, especially in the second half of the day. A notable break above the 1500 level and a strong continuation to 1565 marked the day's most significant move. A key support zone has emerged around 1480–1485, with several bullish engulfing patterns observed during the afternoon rally. A large bullish harami in the early morning (01:15–01:45 ET) signaled a possible reversal from a downtrend. A bearish evening star may be forming if the current upward move stalls in the near future.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both crossed to the upside around midday, confirming a shift in momentum. The 50-period moving average is currently at approximately 1492. The daily chart shows the 50-period MA at 1485, the 100-period at 1470, and the 200-period at 1460. Price is comfortably above all three, reinforcing the strength of the current bull trend.

MACD & RSI

The MACD line crossed above the signal line around 04:30 ET and has remained bullish throughout the day, with a positive divergence suggesting continued upward pressure. The RSI has climbed into overbought territory near 70, which may hint at a short-term pullback or consolidation. However, as long as the RSI remains above 50, bullish sentiment is likely to persist.

Bollinger Bands

Volatility expanded significantly in the afternoon, with the upper Bollinger Band reaching 1540. Price closed near the upper band at 1502.7, which is a strong bullish signal. A contraction in the bands may be expected during the next consolidation phase, potentially leading to a breakout scenario.

Volume & Turnover

Volume spiked sharply during the afternoon push to 1565, with over 300 MKR traded in a single 15-minute period. Turnover also increased in sync with price action, confirming the strength of the move. A divergence between price and volume may emerge if the rally stalls, which would suggest weakening momentum.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from 1460.5 to 1565.0, the 50% retracement level is at 1512.5, which aligns with the current price range. The 61.8% level is at 1535.5, which may serve as a potential target if the bullish trend continues.

Visual Reference

The next 24 hours may see MKRUSDT testing the 1515–1520 range, with the potential for a consolidation phase following the overbought RSI levels. Investors should remain cautious of short-term pullbacks and watch for any bearish divergences in volume and momentum indicators.