Maker (MKR) dey face possible pullback after 17% rally, with $2,000 support dey shine as futures dey lead and spot sellers dey take profit
Maker (MKR) don kuku 17% for di last 24 hours, mainly because strong long positions dey for di Futures market, where di Open Interest Weighted Funding Rate reach 0.0170%, na di third-highest dis year. Even though plenty traders for derivatives get bullish mindset, spot market people dem sell pass $1 million MKR, wey show say dem dey do profit-taking and get some tanda caution underneath. Technical analysis talk say MKR don change di $1,962 level become support, but as spot selling still dey continue, e fit cause price make e comot small, with additional support for $1,867. Top indicators like Bollinger Bands plus Money Flow Index (MFI) wey dey 66.62 show say buyers still dey interested and say short-term small fall fit spark fresh buying. Important zones wey traders suppose watch na di supports at $1,962 and $1,867: if dem fit hold these, e fit help MKR target next main resistance at $2,400. Market now balance optimism from Futures and caution wey show for spot, wey make MKR immediate direction still dey unsure and e dey sensitive to how momentum and liquidity change.
Neutral
Maker (MKR) don enjoy big 17% rise because people dey optimistic for Futures market plus high Open Interest Weighted Funding Rate, but at the same time the spot market dey sell off more than $1 million show say people dey take profit and dey cautious for di market. Main technical support levels for $1,962 and $1,867 together with signals from Bollinger Bands and MFI talk say e fit either bounce back or fall small. This difference between derivatives and spot action dey often come before wahala with high volatility and e no too clear where trend go go. Based on past cases, like similar spikes wey follow correction in 2023 and early 2024 after Futures rally, the news show say short term outlook balance with risk for both sides. So, the impact best to call am neutral until clear movement show.