Maker (MKR) Tests $1,500 Psychological Level: Will the Price Drop to IDR 22 Million? (4/3/25)

Jakarta, Pintu News – Maker (MKR) is under significant selling pressure after experiencing a 10% drop in the last 24 hours. Currently, MKR is trading at around Rp24,301,600 ($1,473.92), based on data from CoinMarketCap.

Despite the price drop, MKR’s trading volume increased by 54% to IDR4.74 trillion ($288 million). This shows that despite the bearish nature of the market, there is interest from investors looking for trend reversal opportunities. This activity could be an early indicator that MKR may experience significant movement in the near future.

Critical $1,500 Level: Defense or Further Decline?

MKR is currently testing the psychological support level around IDR24,733,500 ($1,500). Technically, the daily chart structure shows a bearish bias, which may cause the price to drop deeper if this level does not hold.

If MKR fails to maintain its price above IDR24,733,500 ($1,500), there is a possibility that the price will drop further to the next support level at IDR22,170,800 ($1,345). Currently, the market is still showing uncertainty, with bullish investors trying to defend this level while selling pressure is still dominant.

Also Read: Why is Ripple Still Fighting in Court Despite SEC Dropping Another Crypto Case?

Accumulation by Large Investors?

Although the price trend appears bearish, on-chain data shows more optimistic signals. MKR’s large transaction activity increased by more than 10% in the last 24 hours, signaling movement from large investors.

According to a report from Lookonchain, one of the large crypto wallets “0xB4eA” recently purchased 3,334 MKR worth IDR 80.7 billion ($4.89 million) from decentralized exchanges and Binance. In addition, a new wallet called “0x1d1d” withdrew 900 MKR worth IDR21.98 billion ($1.33 million) from Binance, indicating a possible accumulation of these assets. In addition to accumulation by large investors, the growth of the MKR network has also been on the rise with the current growth rate reaching 1.29%.

Maker (MKR) Price Movement Outlook

Currently, the market is waiting for the outcome of the battle between buyers and sellers around the IDR24,733,500 ($1,500) level. If buying pressure can sustain the price above this level, there is a chance of a stronger price recovery in the near term.

However, if selling pressure continues to dominate, MKR’s price is likely to drop to the next support level of IDR22,170,800 ($1,345). Therefore, investors are advised to monitor price movements and trading volume closely before making investment decisions.

Also Read: XRP Faces Hurdle at $2.4: Can Bulls Break Through? (4/3/25)

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• AMBCrypto. Will Maker (MKR) Dip to $1,345? The Ongoing Decline Suggests Accessed March 4, 2025.
• Featured Image: CryptoSlate