Gazing at the Prospects of Maverick Protocol (MAV): Ready to Follow SEI Footsteps?

Amidst the anticipation surrounding the onset of altseason, the native crypto of Maverick Protocol (MAV) is displaying a potential price pattern ready to soar, closely resembling the trajectory of SEI Network (SEI), which skyrocketed earlier this year.

What is Maverick Protocol?

Maverick Protocol is a new infrastructure for decentralized finance, having launched its dApps on the Ethereum mainnet. The platform is designed to facilitate the most liquid markets for traders, liquidity providers, DAO treasury funds, and developers, backed by a revolutionary Automated Market Maker (AMM).

On its official dApps site, users can seamlessly swap tokens, participate in liquidity pool creation, and explore the innovative liquidity modes unique to Maverick Protocol.

"We founded Maverick to provide crucial market infrastructure needed to eliminate inefficiencies from DeFi and help the industry grow to new levels. In a very short time, we have consistently delivered strong capital efficiency to liquidity providers and equipped token projects with new incentive tools to build liquidity using precisely targeted rewards. This fundraising allows us to continue realizing our mission in creating a stronger and more efficient DeFi ecosystem for everyone," said one of its founders, Alvin Xu, as quoted by Fintech Global.

To get started, a self-custody wallet and a certain number of tokens are required. Maverick Protocol wisely provides a comprehensive guide to assist users in navigating the swap and pool features.

What sets Maverick Protocol apart is not just its cutting-edge technology but also the exceptional support it has garnered from major players in the crypto investment landscape.

Backed by big institutions such as Founders Fund, Pantera Capital, Coinbase Ventures, Binance Labs, Circle Ventures, and Gemini, Maverick Protocol showcases its credibility and has positioned itself as a key player in the decentralized finance (DeFi) realm.

Technical Analysis

Technically, the price of the native crypto, Maverick Protocol (MAV), has risen by over 140% since early November 2023, indicating a bullish pattern with the potential to break through the main resistance area.

In the newly initiated altseason, this area is expected to be breached, although the price formed two inverted hammer candles, not followed by substantial selling pressure.

What's intriguing about MAV's price pattern is its resemblance to the pattern held by SEI crypto before its tremendous surge of over 300%, making it one of the top-performing cryptos in late 2023 and early this year.

After SEI broke through its resistance area, initiated by an inverted hammer candle, its price skyrocketed, even touching $1 before a brief correction and attempting to recover at the time of writing.

At this moment, SEI and MAV are exhibiting nearly similar performance, growing over 12%, with no signs of slowing down, as shown in the data table below, taken from the Tokocrypto mobile app.

However, it's worth noting that MAV's price is not guaranteed to follow SEI's footsteps, especially if its resistance area hasn't been perfectly breached on the weekly chart.

Nevertheless, the newly commenced altseason is expected to propel its price higher, with a dream target of $1 among its supporters.

It's essential to emphasize that this article is not financial advice or a recommendation to invest in a specific crypto asset but merely serves as information and an option to support readers' personal analysis. DYOR (Do Your Own Research).