$MKR is currently in a bearish market structure, trading at 1678 USDT, just above a critical support level of 1649 USDT. The low RSI of 29.42 suggests oversold conditions, indicating potential for a rebound. A range-bound trading strategy could be prudent, waiting for a breakout above resistance at 1852 USDT. However, traders should remain cautious due to Bitcoin’s volatility and macroeconomic uncertainties that might influence broader market dynamics.
