$MLN
: Consolidation Near Key Support – Eyes on Potential Breakout
$MLN is currently trading at $22.68, showing slight gains after rebounding from a session low of $22.08. Despite testing the day’s high of $23.47, the price has faced resistance, resulting in a period of sideways movement. The support at $22.44 is crucial as buyers look to maintain control and push for a breakout above the immediate resistance at $22.87.
The Relative Strength Index (RSI) stands at 53.39, indicating a neutral market with potential for upward momentum. Additionally, the MACD shows a modest bullish crossover, reflecting growing optimism among buyers. If $MLN can reclaim and sustain levels above $22.87, it could signal renewed strength and push the price higher. However, a failure to hold support at $22.44 may prompt a retest of the lower range near $22.08.
The market is in a consolidation phase, and a decisive move appears imminent. Traders should closely monitor key support and resistance levels for confirmation of the next breakout or breakdown.