Technical Analysis for $MLN

/USDT on Binance

Current Price: $21.49

24h Change: +4.81%

24h High: $21.78 | 24h Low: $20.46

Overview

MLN (Enzyme) has shown bullish momentum in the past 24 hours, reaching a high of $21.78. Currently, slight retracement is observed, with support around $21.00 and resistance near $21.80. The overall sentiment indicates potential for further upward movement if key resistance levels are broken.

Key Levels and Targets 🎯

1. Target 1: $22.20

This level represents minor resistance from previous trading activity. Breaking this point confirms short-term bullish continuation.

2. Target 2: $23.50

A psychological resistance and significant technical level based on past price action. If this level is breached, MLN/USDT may attract higher trading volume.

3. Target 3: $25.00

A medium-term target in a strongly bullish scenario. It aligns with Fibonacci extensions and historical data as a potential peak.

Support Levels

$21.00: Immediate support; maintaining this level is crucial for a bullish outlook.

$20.50: A critical zone to watch if the price continues to retrace.

Indicators:

RSI: Neutral, with room for upward momentum.

Volume: Increasing, suggesting strong trader interest.

Moving Averages: The 50 EMA indicates bullish pressure if the price holds above it.

Disclaimer: This is not financial advice. Conduct your research before making investment decisions. Stay tuned for more updates!