The Morpho token (MORPHO) gained 10% to test the $2.10 resistance level on April 10, 2026, as trading volume for the DeFi protocol doubled.
The price surge was accompanied by a significant increase in on-chain activity, according to data from CoinGecko. "The doubling in volume indicates a strong influx of buying pressure, which is now challenging a key technical barrier," said a researcher at Kaiko.
Data shows the move was primarily spot-driven, with open interest on perpetual futures contracts seeing a more modest 5% increase. The rally pushed Morpho’s market capitalization to just under $300 million. Morpho is a decentralized lending protocol on Ethereum that aims to provide more efficient lending and borrowing rates.
A sustained break above the $2.10 level, which has acted as resistance since early March, could trigger a new wave of buying and continue the uptrend. However, failure to breach this level could see profit-taking and a potential retest of support near $1.85.
This article is for informational purposes only and does not constitute investment advice.
