$MLN /USDT Technical Analysis – March 31, 2025
The MLN/USDT pair has shown significant bullish momentum today, with the price surging by 18.99% to trade at $12.97 at the time of analysis. Below is a detailed breakdown of the current technical indicators and chart patterns:
Key Technical Insights
Bollinger Bands Strategy:
The "BBandLE +2" signal suggests a strong bullish breakout above the upper Bollinger Band.
The price has moved from a prolonged bearish phase (red zone) into a bullish phase (green zone).
Momentum Indicators:
RSI: The daily RSI is at 74.83, indicating overbought conditions but strong buying momentum.
Stochastic RSI: A bullish crossover reinforces upward movement.
Moving Averages:
All short- and medium-term SMAs (5, 10, 20, 50) are bullish, confirming the trend shift.
Other Indicators:
MACD: Bullish crossover supports continued price growth.
ADX: Indicates a strong trend.
MFI: Overbought, signaling high buying activity but caution for potential pullbacks.
VWAP: Still in a downtrend, suggesting resistance to further upward movement.
Current Price Action
MLN/USDT is trading at $12.97 (+18.99%), with a daily high of $16.32.
The price has broken key resistance levels, but overbought indicators suggest possible consolidation or retracement.
Key Levels to Monitor
Resistance: $14.00–$16.00
Support: $11.00 and $10.32
Conclusion
MLN/USDT is showing strong bullish momentum, supported by technical indicators and a breakout from the Bollinger Bands’ upper range. However, overbought conditions warrant caution for traders looking to enter new positions.
Trading Tip: Consider taking profits near resistance levels or waiting for a retracement to support zones for re-entry opportunities. Keep an eye on volume and VWAP trends for additional confirmation of sustained momentum.
