Maker (MKR) don go high because of Sky Protocol Upgrade, Golden Cross, and USDS Launch as bullish momentum dey build up
Maker (MKR) don dey rise well well, e don pass 17% and e reach di highest price wey e don see since mid-May, now e dey trade near $2,000. Dis kain jump come after some technical signs like golden cross for di 4-hour chart and e break above serious resistance, meaning say di market strong well well for bull. Dis upward movement happen after market fall scatter for late 2023, and e dey show say recovery don dey happen for three months now. Wetin make di rally strong pass na MakerDAO go dey move to Sky Protocol, wey include converting MKR to di new SKY governance token and dem launch USDS stablecoin rewards program. More than 420,000 MKR tokens don already change, wey reduce di amount wey dey circulate and boost demand. Trading volume don increase almost 50% to $200 million, with technical indicators like Supertrend, MACD, RSI, OBV, and CMF all showing say people dey buy pass. Key resistance levels for $2,076 and $2,428 na wetin dem dey look; if di momentum continue and e break dem, e fit gain more, but if e fail, e fit fall go around $1,412. Di protocol wey change name from MKR to SKY, di governance reforms wey dey happen, and di sweet staking yields don add fundamental support for people wey dey hold am long term. For crypto traders, di combination of di bullish technical setup and di protocol upgrades dey show opportunities for quick rallies and long term gains.
Bullish
Plenty technical signs, like golden cross, Supertrend, MACD, and big volume, all dey show say MKR get strong bullish power. The ongoing upgrade to Sky Protocol, the new name to SKY, and plenty rewards from USDS stablecoin program don dey reduce MKR wey dey market and dey make people wan buy am, both traders and people wey wan hold am for long. This mix of technical and structural things dey show say the price go still dey go up for short to middle time. But, traders gats watch important resistance levels, because if e no fit break dem, e fit drop small. Before before, like this kind governance upgrade and supply reduction don dey cause steady price increase, so for now, MKR outlook dey bullish.