A short technical analysis and trade signal for $MLN /USDT:
Technical Analysis:
Current Price: $23.25 (Up 6.26% in 24 hours)
Trend: The price has been rising, indicating a bullish momentum.
Support Level: $21.82 (24h low) — key support zone.
Resistance Level: $24.65 (24h high) — initial resistance to watch.
Relative Strength Index (RSI): The RSI is likely in a neutral to slightly overbought zone, suggesting caution for potential retracement.
Volume: The 24h volume of 183,320.71 MLN with 4.24M USDT shows decent liquidity, indicating strong market interest.
Trade Signal:
Buy Signal: Enter long positions near the support level at $21.82 or on any pullbacks towards $22.00.
Target Levels:
1. Target 1: $24.00 (resistance level breakout).
2. Target 2: $24.65 (24h high).
3. Target 3: $25.50 (next resistance, if momentum continues).
Stop-Loss: Place stop-loss just below $21.50 to manage risk.
Trade Momentum:
Momentum: Bullish, as the price is above key support levels and showing upward movement. However, the market may face resistance near $24.65, so a breakout above this level could lead to further gains.
Keep an eye on volume and RSI for confirmation of continued upward movement or potential reversal.
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