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Maker (MKR) Price Prediction – When will MKR hit $5000?

Maker (MKR) Price Prediction

MakerDAO has recently experienced substantial progress in its fundamentals. Positively, the platform has regained profitability after implementing modifications to its lending rates. Senior research analyst at Messari Kunal Goel stated in an interview that MakerDAO experienced a resurgence in profitability after a phase characterized by augmented expenditure on incentives.

MakerDAO, an issuer of the $5 billion stablecoin DAI and one of the largest crypto lending protocols, has increased its revenue by investing its substantial stablecoin reserves strategically in real-world assets, such as U.S. government bonds. In pursuit of higher returns in conventional finance, the platform additionally engages in lending to banks as part of a strategic reorientation called "Endgame."

MakerDAO also experienced a decline in profit projections due to a recent transient escalation in incentives for DAI holders, which peaked at 8%. In an effort to recoup its losses, the platform subsequently modified its incentive framework through a reduction in rewards and an increase in borrowing rates.

Holders of MKR are eligible to profit from MakerDAO's profitability via a token buyback program implemented the month prior. This initiative aims to decrease the market's outstanding supply of MKR tokens by allocating surplus revenues from the platform's treasury.

According to DefiLlama data, the lending platform Spark, which is intricately linked to Maker, has witnessed remarkable expansion, approaching an all-time peak of $700 million in total value locked (TVL) on the protocol. Earlier this month, Rune Christensen, the founder of MakerDAO, unveiled a plan to distribute Spark's SPK tokens via airdrop.

Let’s see the MKR price prediction price direction from the MKRUSDT technical analysis:

MKR/USDT Bullish Continuation Is Potent

MKRUSDT Bullish Continuation Is Potent

In the daily MKR/USDT price, the broader market direction is bullish as the recent price shows a higher high formation. Moreover, the highest trading volume level since the August 2023 low also supports bulls. As per the current reading, the most active level since the 17 August 2023 low is at 1127.00 level, which is above the current price. 

In the higher timeframe, the current monthly candle trades within a bullish body of the previous month, while the current trades as an inside bar formation. Based on the weekly and monthly timeframes, the overall momentum is bullish where a new weekly close above the 1514.00 high could be a strong bullish signal.

In the daily price, the 20-day Exponential Moving Average is the immediate support from where a strong bullish reversal has come. Moreover, the 100-day SMA is below the current price with an upward slope, which is also a strong long signal. Moreover, the current price is trading within a descending channel, from where a bullish breakout could resume the existing momentum

However, the relative Strength Index (RSI) shows a strong bearish recovery after recovering from the 70.00 line and reaching the 50.00 line.

Based on the daily price projection of MKR/USDT, the overall market momentum is bullish. A bullish channel breakout and a daily close above the 1488.00 level could be a strong bullish opportunity. The current target level would be the 1773.00 level, which is the 161.8% Fibonacci Extension level from the current swing zone.

On the bearish side, investors should monitor how the price reacts to the 1327.00 support. A bearish daily close below the 1300.00 level could offer a minor bearish recovery, targeting the 981.00 level.

MKR/USDT Formed A Falling Wedge Breakout

MKRUSDT Formed A Falling Wedge Breakout

In the H4 timeframe, the broader market momentum is corrective as it trades within a falling wedge. However, a strong bullish breakout is seen, supported by the dynamic Kijun Sen support, which could be a strong bullish continuation opportunity.

In the future cloud, the Senkou Span A and B came close to a bullish crossover possibility, where the current ADX shows corrections at the 20.00 line.

Based on the H4 structure, investors should monitor how the price reacts to the wedge resistance, which is currently working as a support. In that case, an additional bullish recovery with a daily candle above the 1488.00 level could be a conservative bullish opportunity, targeting the 1700.00 level.

On the flip side, a daily candle below the 1326.00 support level could offer a short opportunity where the main aim is to test the 1200.00 psychological level. 

MKR/USDT Intraday Price Action Analysis

MKRUSDT Intraday Price Action Analysis

In the H2 timeframe, the current price is facing strong resistance at the 1451.00 resistance level, which is a critical high volume level. Moreover, the current bullish pressure from the 1326.00 support came with a demand zone formation, from where a  bullish reversal can happen.

Based on this outlook, a downside recovery with a bullish reversal from the 1385.00 to 1326.00 area could be a long signal targeting the 1600.00 resistance level.

On the other hand, a  bearish reversal is in play, which came with a bearish reversal at the 1451.00 resistance level. Moreover, a bearish daily candle below the 1326.00 support level could be a short opportunity, targeting the 1260.00 level for the coming days.


Based on the current market momentum is bullish in the daily chart, where a validation from the lower timeframe could offer an early buying opportunity. Therefore, investors should monitor how the price trades at the H4 wedge support to find a strong long signal.

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