๐ $MLN /USDT โ FAILED BREAKOUT ABOVE $10.48, SLIDING BACK TO SUPPORT ZONE
$MLN /USDT spiked from $7.85 to a high of $10.48 in a rapid bullish impulse, but the breakout quickly lost steam. The hourly chart reveals strong rejection at the top, followed by a consistent downtrend that brought price back near $8.37. Bulls are attempting a defense here, but momentum remains weak.
For any reversal to take hold, price needs to reclaim the $8.88โ$9.10 range. A failure to hold above $8.00 could trigger a retest of the $7.85 low.
๐ Key Technical Zones: โข Resistance: $8.88 / $9.45
โข Support: $8.00 / $7.85
โข Trend: Short-term bearish, potential bounce brewing