MKR rallies over 10% as whales and smart money accumulate

MKR makes a strong return after months of decline, thanks to a renewed interest in whales and intelligent monetary investors.

According to Crypto.News data, Manufacturer (Mkr) jumped 11% to an intrajurnal summit of $ 1 197 on February 19, pushing its market capitalization closer to the $ 1 billion bar. The rally was accompanied by a peak in commercial volume of 28%, reaching $ 189 million, with a circulating offer of 845,384 tokens.

MKR was in a downward trend since the beginning of December, while it was negotiating nearly $ 2,400. While the token is still down 81% compared to its summit of $ 6,282, it earned more than 24% last week, reporting a strong recovery.

The wave seems to be mainly motivated by a Increase in the accumulation of whales and Smart Dex Traders.

A recent post X of the blockchain Icryptoai blockchain analysis company highlights a coherent purchase model among intelligent merchants and dexx whales, the purchase volume considerably exceeding sales volume, which traders consider an indicator of bullish feeling.

In addition, the cumulative volume Delta data show that MKR is in the Smart DEX traders accumulation area, which means that experienced traders actively increase their assets. Historical trends suggest that when MCV increases the sides of the price and the volume of trading, it often precedes omino.

MKR’s open interest has also jumped 20% in the last 24 hours per quince data. The long / short ratio is currently at 1.028. Such an increase in OI and the domination of long positions indicate a growing bullish feeling among the traders in the long term, which could support new price gains if the purchase of pressure remains strong.

However, if the lever effect is excessively strengthening, it can also increase the risk of compression.

Santiment data also reveals that the weighted social feeling for MKR has overturned positive since February 17, indicating that most discussions on social platforms are optimistic about the price of Altcoin prices. The tracker of community feelings in CoinmarketCap shows a similar trend, with 92% of more than 51,000 traders currently bullish on MKR.

MKR technical analysis

On the MKR / USDT graphic at 1 day, the MacD lines pointed out up with the MacD line located above the signal line. This suggests that the purchase of pressure for MKR continues to stay strong.

The Aroon indicator confirms this upward trend, with 100% aro aroma and 28.57% Aroon Down, signaling a dominant bullish momentum and minimum lowered pressure.

Its RSI is currently at 58 years old, indicating sustained bullish impulse and suggesting that the asset still has an important place for gains, in particular if it is supported by an increase in open interest and positive technical signals.

As such, MKR could continue its rally in the coming days before cooling off. Analysts also expressed a bullish view for Altcoin after having formed a descending channel model on the 12 -hour graph.

According to an analyst, the bullish scheme has been formed since December 4. With the recently altcoin exceeding the upper limit of the canal, it could still earn around 30%, according to to his prediction.

$ 1,220 serves as the next key resistance level, according to To analyst Ali Martinez, who underlined the sequential TD indicator, who had reported a purchase signal on the daily graphic. The indicator helps to identify the reversals of trends and a purchase signal, it suggests that it is offset the sale pressure, opening the way to a potential price rebound.

At the time of the press, MKR was negotiated at $ 1,170 per room.