Maker (MKR) Surges on Sky Protocol Upgrade, Golden Cross, and USDS Launch as Bullish Momentum Builds

Maker (MKR) has experienced a sustained rally, climbing over 17% and reaching its highest price since mid-May, trading near the $2,000 mark. The surge follows technical signals such as a golden cross on the 4-hour chart and a breakout above major resistance, signaling strong bullish momentum. This uptrend comes after a sharp correction in late 2023 and reflects an ongoing three-month recovery. The rally is further fueled by MakerDAO’s ongoing transition to the Sky Protocol, including the conversion of MKR to the new SKY governance token and the launch of the USDS stablecoin rewards program. Over 420,000 MKR tokens have already been converted, shrinking circulating supply and boosting demand. Trading volume has risen nearly 50% to $200 million, with technical indicators like Supertrend, MACD, RSI, OBV, and CMF all signaling increased buying pressure. Key resistance levels at $2,076 and $2,428 are in focus; sustained momentum could see further gains if these are breached, while failure could trigger pullbacks toward $1,412. The protocol’s rebrand from MKR to SKY, ongoing governance reforms, and attractive staking yields add fundamental support for long-term holders. For crypto traders, the combined bullish technical setup and protocol upgrades highlight opportunities for short-term rallies and long-term gains.