Key Takeaways
- Record-Breaking Metrics: MakerDAO hit $42.19M in monthly fees and $27.71M in revenues, with all-time fees reaching $560.01M.
- Price Decline: MKR dropped from $2,425 to $1,521, breaking below the 38.20% Fibonacci level ($1,680).
- Market Sentiment: Resistance ($1,602–$1,772) outweighs support ($1,413–$1,434), signaling potential further decline.
- Critical Levels: A bearish continuation may test $1,054, while a bullish reversal could target $2,000.
As Bitcoin (BTC) struggles below $94,000 and Ethereum (ETH) lingers under $3,400, MakerDAO’s MKR token clings to the $1,500 psychological threshold. Despite a 18.94% monthly drop, the network celebrates record-breaking on-chain activity, hinting at long-term bullish potential.
MakerDAO’s December Network Milestones
Despite market volatility, MakerDAO achieved unprecedented metrics in December:
- Monthly Fees: Surpassed $40M, reaching **$42.19M**.
- Revenues: Crossed $27.71M, a new all-time high.
- All-Time Fees: Now $560.01M, reflecting sustained network usage.
👉 Explore how MakerDAO’s growth compares to other DeFi giants
These milestones suggest resilience amid bearish conditions, with analysts eyeing 2025 as a potential bull-run catalyst.
MKR Price Technical Breakdown
Chart Patterns & Indicators
- Falling Wedge: MKR declined from $2,425 to $1,521, threatening the $1,500 support.
- EMA Lines: Price trades below 200-day, 50-day, and 100-day EMAs, signaling bearish momentum.
- RSI: Hovers near 40, indicating weak buying pressure but no oversold conditions yet.
Fibonacci Levels
- Breakdown: Fell below 38.20% level ($1,680); next target is 23.60% (~$1,400).
- Reversal Scenario: A breakout above the wedge’s resistance could propel MKR toward $2,000.
On-Chain Insights: Demand vs. Supply
Resistance vs. Support
- Supply Zone ($1,602–$1,772): 138.09K MKR held by 3.61K addresses.
- Demand Zone ($1,413–$1,434): Only 2.75K MKR held by 1.16K addresses.
The disparity suggests weak buying interest near current levels, increasing downside risks.
👉 Discover how on-chain data can predict crypto trends
FAQs
1. Why did MKR price drop recently?
- Broader crypto market downtrend (BTC/ETH declines) and profit-taking after earlier rallies.
2. What’s the significance of MakerDAO’s fee records?
- High fees indicate robust network usage, often a precursor to long-term price appreciation.
3. Can MKR rebound in 2025?
- If macroeconomic conditions improve and DeFi adoption grows, MKR could target $2,000+.
4. What’s the worst-case scenario for MKR?
- A breakdown below $1,400 may lead to a test of $1,054 (next major support).
Conclusion
While MakerDAO’s fundamentals shine, MKR faces short-term bearish pressure. Traders should monitor:
- Key Supports: $1,500 (psychological), $1,400 (technical).
- Catalysts: Network growth, BTC/ETH recovery, and 2025 market trends.
For strategic traders, this dip could present a high-risk, high-reward opportunity.
Disclaimer: This analysis is for informational purposes only. Conduct independent research before investing.
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