$MLN /USDT- Bullish Momentum 🚀
Support: $8.61 | Resistance: $9.25
$MLN is currently trading at $9.07, experiencing a slight decline of -0.01413% from the previous close. The price has reached an intraday high of $9.25 and a low of $8.61, indicating a consolidation phase within this range. A breakout above $9.25 could signal a continuation of the bullish trend.
Fibonacci Levels:
Retracement Status: Approaching the 61.8% Fibonacci retracement level.
Price Zones:
Support: $8.61
Resistance: $9.25
A breakout above the 61.8% retracement level could lead to further upward movement.
RSI:
Value: Not specified in the provided data.
Interpretation: An RSI value above 70 would indicate overbought conditions, suggesting a potential pullback. Conversely, an RSI below 30 would indicate oversold conditions, suggesting a potential buying opportunity.
Entry Zones:
Safer: $8.70 – $8.90
Rationale: Aligns with recent support levels, offering a more conservative entry point.
Aggressive: $8.50 – $8.70
Rationale: Near previous support levels, suitable for traders with higher risk tolerance.
Take-Profit Zones:
TP1: $9.25
Rationale: Previous resistance level, potential for price rejection.
TP2: $9.50
Rationale: Next major resistance level, potential for further upward movement.
Stop-Loss Ideas:
Conservative: $8.40
Rationale: Below recent support levels, minimizing risk in case of a bearish reversal.
Tight: $8.60
Rationale: Just below immediate support, suitable for short-term traders seeking to limit potential losses.
