- Whale dominance and strong net inflows signaled growing institutional confidence in MKR’s breakout.
- Volatility compression and rising long interest hinted at an explosive move toward $1,950.
Maker [MKR] is gaining momentum after finally breaking out of a nine-month symmetrical triangle that has capped its price action since August 2024.
The breakout comes as MKR surges past the $1,500 resistance level, registering a 7.35% daily gain to trade at $1,482.20 at press time.
MKR has been coiling within converging trendlines, forming a classic symmetrical triangle with lower highs and higher lows. The recent bullish candle sliced through the descending trendline, confirming an early breakout.
Based on the pattern’s height, this setup projects a potential 30% move, positioning $1,950 as a realistic upside target—provided buyers maintain pressure and invalidate any retest failures.
Source: TradingView
Whale accumulation and investor concentration
Maker’s supply remains highly concentrated in the hands of a few dominant players.
Currently, 53.63% of MKR is controlled by only 11 whale wallets, accounting for over 624,000 MKR. On the other end of the spectrum, a total of 111 investor wallets hold just 29.79% of the circulating supply.
This tight distribution gives whales outsized influence over price direction, especially during volatile phases. Therefore, any coordinated accumulation or distribution from these entities could easily skew MKR’s trend trajectory.
Source: IntoTheBlock
Supporting the price breakout is a remarkable spike in large-holder netflows. Over the last 90 days, the metric has surged by +1901.66%, pointing to an intensified wave of accumulation between February and April.
Notably, the most significant inflows occurred near the $1,300–$1,400 range, which closely aligns with MKR’s consolidation zone inside the triangle. This timing indicates strategic accumulation just before the resistance break—further reinforcing the bullish narrative.
Derivatives positioning – Do leveraged traders believe in the breakout?
On Binance, derivatives traders are increasingly aligning with bullish expectations. The long/short ratio climbed to 1.15, with 53.38% of accounts positioned long as of the 23rd of April.
While this is not an overwhelming majority, the bias has flipped upward in recent sessions, suggesting rising confidence among leveraged traders. This sentiment shift often precedes volatility expansion and price acceleration, especially after a clean technical breakout.
Source: Coinglass
Volatility trends – Will the squeeze lead to an explosive move?
Volatility metrics show MKR trading in a historically compressed range. Its 30-day volatility dropped to 72%, down from 87.3% earlier this month. This kind of compression, paired with breakout conditions, often precedes strong directional movement.
With MKR now trading above the triangle and volatility at a low, the probability of a sharp move to the upside increases significantly.
Source: IntoTheBlock
Is $1,950 within reach for MKR?
Maker’s breakout above the symmetrical triangle, supported by whale accumulation, large-holder net inflows, and growing long interest, paints a solidly bullish backdrop. The declining volatility further heightens the likelihood of a sharp continuation move.
Still, holding above $1,500 in the coming sessions will be crucial to confirming strength. If bulls can sustain this level, MKR could very well rally toward the $1,950 target in the near term.
