Decentralized lending protocol Morpho’s native token MORPHO has risen approximately 15% in the past 24 hours, successfully breaking through the previous consolidation range. Unlike a simple price surge, this round of increase is accompanied by multiple on-chain indicators improving simultaneously, indicating that genuine funds and user behavior are supporting this market trend. The market is beginning to reassess MORPHO’s medium-term potential.
From on-chain data, Morpho’s total value locked (TVL) has risen in tandem with the token price. According to DefiLlama statistics, the amount of assets locked within the protocol has recently increased significantly, suggesting that funds are more inclined to stay within the protocol to earn yields rather than frequently circulating in the secondary market. Historical experience shows that altcoins driven by sentiment tend to rise and fall quickly, whereas projects supported by user participation and capital accumulation are more likely to establish relatively lasting trends.
Another key signal is the 90-day average token age increasing. Even amid a rapid price increase, the token circulation speed has not noticeably accelerated, indicating that many holders are choosing to continue holding rather than short-term profit-taking. This “rising price, stagnant tokens” structure often alleviates selling pressure and creates conditions for the trend to continue.
On the technical side, the stochastic RSI has rebounded from oversold territory, showing that bullish momentum is recovering. In the short term, a slight pullback or sideways movement after the rapid price increase is not surprising; the key is whether the support around $1.1 can hold steady. If this level remains defended, the market may test the potential resistance at around $1.4.
Against the backdrop of the DeFi sector gradually warming up, MORPHO’s TVL growth, improved token holding structure, and strengthening momentum indicators together form a relatively solid bullish foundation. As long as funds and user confidence do not experience a significant reversal, this price movement of MORPHO may not be just a fleeting moment.
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