- Maker (MKR) price is up 17% to trade at $1,299 as Bitcoin and Ethereum rebound.
- MKR is showing resilience amid a broader shift for real world assets (RWA) tokens.
- Could Maker bounce to $2000 or is $900 next?
Maker (MKR), the governance token of Sky (formerly MakerDAO) and the Maker protocol, has posted a strong bounce, rising more than 17% to trade at $1,299.
This surge over the past 24 hours reflects a broader market flip, with a 24-hour trading volume of $123 million underscoring fresh buying activity.
As MKR’s price rebounds, analysts have pointed to the key trend of resilience among real-world assets (RWA) tokens.
Pendle, Sky (formerly MakerDAO), Ondo Finance, Athena, and MANTRA have all seen notable spikes in 24-hour trading volume.
Sky is among the top gainers in this aspect, as this analyst notes in a post on X.
MKR price shows resilience
Sky Ecosystem, Maker’s broader platform, recorded $33 million in weekly trading volume as RWA projects pushed higher following the dump on Monday.
As noted above, this resilience in the RWA space has bolstered investor confidence in MKR.
That’s despite the broader market sentiment remaining cautious with the Fear & Greed Index, currently at 19.
It means extreme fear in the crypto market. However, MKR’s upward trajectory in the past 24 hours indicates resilience as bulls look to defy the downtrend across most altcoins.
Maker’s token reached lows of $1,052 on April 7 amid a tariffs-driven sell-off.
However, it hovered near $1,300 at the time of writing, showing a 17% spike in 24 hours and a potential V-shaped recovery that has characterized some top gainers in the market today.
What’s next for the Maker (MKR) price?
Maker price hovers at a critical resistance level.
If bulls push higher, the token could rise to the supply zone at $1,500. Above this, buyers may fancy $2,200 and higher.
Nonetheless, the crypto market continues to face headwinds amid risk-off sentiment as reciprocal tax policy engulfs global trade partners.
Since “Liberation Day”, most stocks and crypto have dropped as investor sentiment took a hit.
Ethereum and other altcoins may thus dictate MKR’s short-term price action despite its strong fundamentals.
In this case, a dip could push the token’s value under $1,000 again. Recent lows around $900 remain a key level for bulls.
“MKR on the daily time frame is breaking down from a symmetrical triangle pattern, which is typically a bearish signal. At the moment, $MKR is resting on a horizontal support zone, but given the overall bearish momentum across the market, there’s a strong possibility that this support could break as well,” crypto analyst Alpha Crypto posted on X.
