📉 $MKR /USDT Market Update – $1,582 (-4.93%)
📊 Market Overview
📌 Current Price: $1,582 (-4.93%)
📌 24H High: $1,730
📌 24H Low: $1,569
📌 24H Volume: 22,023 MKR / 36.29M USDT
📉 Technical Analysis
✅ Support Levels:
$1,570 - $1,560 → Immediate support
$1,500 - $1,480 → Strong support
🚀 Resistance Levels:
$1,630 - $1,670 → Immediate resistance
$1,700 - $1,730 → Key breakout zone
📈 Indicators & Trend Analysis
🔹 RSI: Near oversold (~35) → Possible bounce if demand increases
🔹 MACD: Bearish crossover → Downward momentum still present
🔹 Bollinger Bands: Trading near lower band → High volatility expected
📉 Trading Strategy
📌 Bullish Scenario:
If MKR reclaims $1,630, a push to $1,670 - $1,700 is likely
Breaking $1,700+ could lead to a recovery towards $1,750
📌 Bearish Scenario:
A drop below $1,560 could push MKR towards $1,500 - $1,480
Breaking $1,480 would confirm further downside
⚠️ Risk Management:
🔹 Stop-loss: Below $1,560
🔹 Take profit: $1,670 - $1,700
🔍 Final Thoughts
MKR is facing selling pressure, but the $1,560 - $1,570 zone is crucial support. A bounce could happen if buyers step in, but failure to hold could lead to further declines. Traders should monitor volume for confirmation.