đą MLN/USDT â Market Overview
MLN just had a massive bounce, jumping nearly +47% in a single day â thatâs a serious move. The price is now sitting around $7.88, after falling as low as $3.08 recently. So basically, the bulls have come back strong and taken control.
đ Whatâs Happening on the Chart
You can see a huge green candle â thatâs a strong sign of buying pressure. After that heavy crash earlier (around $9.8 â $3.0), the coin is now recovering fast, forming what looks like a V-shaped comeback.
This kind of move usually means buyers stepped in aggressively after a panic sell-off.
âïž Indicators SayâŠ
RSI = 70.5 â The coin is getting close to overbought, meaning it might take a short breather soon before moving again.
Volume has exploded â which confirms that the move is real, not a fake pump. Big players are likely buying.
Price is above key moving averages, meaning short-term trend is now bullish.
đ§ Important Levels
Immediate Support: around $7.20
Strong Support: near $5.70
Resistance Zone: around $9.20â$9.80
If MLN breaks past $9.80, it could easily target $10+ next. But if it drops under $7.00, a short dip toward $6 might happen.
đĄ Trading View (Not Financial Advice)
If youâre thinking of a long (buy) setup, wait for a small dip around $7.2â7.5, then target $8.8â9.8.
Keep a stop-loss below $6.8 just in case the market flips.
If youâre thinking of shorting, it only makes sense if the price fails to hold $7.0, then aim for $6.0 or lower.
đź Bottom Line
The market mood is strongly bullish right now.
Short-term traders might take profit soon (since RSI is high), so expect some sideways or minor pullback movement.
As long as the price stays above $7, MLN looks ready for another leg up.
