Swing Trading Signal & Technical Analysis for $MLN /USDT
Current Price Action**
Current Price: $11.19 (-13.26% 24h change)
- 24h Range: $10.79 (Low) - $13.12 (High)
- Volume: 977,969.15 MLN / $11.61M USDT
- Market Sentiment: Bearish (DeFi sector under pressure).
Key Technical Indicators
1. Trend Analysis
- Short-Term Trend: Downtrend (Price below MA(5): 132,371.762 and MA(10): 249,407.989).
- Resistance Levels: $13.13 (recent high), $14.82 (next key resistance).
- Support Levels: $11.19 (current), $9.75 (critical swing low).
2. Moving Averages (MA/EMA)
- MA(5) vs. MA(10): Death Cross (MA(5) below MA(10)) confirms bearish momentum.
- Price Position: Trading below both MAs, indicating seller dominance.
3. Volume & Volatility
- Volume Spike: 24h volume is elevated (977K MLN), suggesting capitulation or accumulation near $11.19.
- **Volatility:** Wide 24h range ($2.33) signals high volatility; potential for sharp reversals.
4. **Oscillators (MACD, RSI inferred)**
- **MACD:** Likely bearish (no histogram data, but price action suggests momentum favors sellers).
- **RSI (Estimated):** Potentially oversold (if RSI <30), but no confirmation.
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#### **Swing Trading Signal**
**Signal:** **Conditional Buy Setup** (High-Risk, Aggressive Trade)
- **Entry Zone:** $10.80 - $11.20 (retest of 24h low with volume confirmation).
- **Stop-Loss:** Below $9.75 (swing low invalidation).
- **Take-Profit Targets:**
- **TP1:** $12.50 (near MA resistance)
- **TP2:** $13.13 (24h high)
- **Risk-Reward Ratio:** ~1:2 (if entry at $11.00, SL $9.75, TP $12.50).
**Note:** Wait for:
1. Bullish reversal candle (e.g., hammer, engulfing) at support.
2. Volume surge on upside breakout above $11.50.
