- Maker (MKR) is on a strong uptrend with a 20% surge this week, driven by bullish technical indicators and record-high revenue.
- Market confidence remains high as the funding rate stays positive, suggesting further price gains toward the $1,700 resistance level.
The cryptocurrency Maker (MKR) achieved another 6% increase in its value as trading reached $1,189 on Wednesday. Positive on-chain metrics and technical signal indicators have caused the cryptocurrency to experience its current more than 20% weekly growth. Investor confidence increases, so MKR seems likely to keep climbing in value.
Maker’s Record Revenue Boosts Investor Confidence
On February 12, MKR executed a main technical breakout when prices surpassed a descending trendline pattern. The token performed a 9.28% increase, pushing its closing price to exceed $1,023 and recording a new high at $1,189 by Wednesday. Investor momentum shows growth potential for MKR to achieve a 42% price increase before reaching the daily resistance point at $1,700.
The technical analysis pointers correspond with the optimistic market view. Technical analysis through RSI shows the indicator reaches 59 points, which exceeds 50 and indicates a positive price direction. Analytical data from the Moving Average Convergence Divergence (MACD) indicator shows a bullish crossover, which confirms that investors should buy while signaling that market prices will continue rising.
The most recent revenue statistics from Maker obtained through Artemis show that the company generated $10 million in sales on February 10, the highest figure for the year. The significant revenue increase demonstrates increased network operations that could strengthen market sentiment. The cumulative effect of these conditions represents a good outlook for MKR’s future pricing scenario.
Maker Revenue chart
MKR’s Positive Funding Rate Reflects Strong Market Sentiment
Coinglass’s OI-Weighted Funding Rate data demonstrates positive market sentiments. The OI-Weighted Funding Rate provides a measurement of future trader emotional orientation through its analysis of open interest positions. Short position holders are currently receiving payments from long position traders since MKR’s funding rate is 0.0009% positive.
A funding rate with a positive value usually indicates market optimism since investors believe MKR will increase in value more than it will decrease.
MKR OI-Weighted Funding Rate chart
Investors currently demonstrate rising trust in MKR because they prefer assets with strong fundamentals and revenue-based benefits. Maker’s excellent operational performance and rising revenue generate positive signals for forthcoming monetary bullishness.
Strong technical and fundamental support indicates that MKR will rise toward the $1,700 resistance point when purchase activity continues. Market conditions and macroeconomic elements may affect its price direction. Investors and traders need to track crucial support and resistance zones to predict market price shifts.
The new price highs, increased revenue, and positive funding rates confirm MKR’s current bullish market trend. These positive market trends suggest MKR will uphold its increasing value because investors will be attracted to its demonstrated growth potential.
