Technical analysis by nakreko about Symbol MLN on 2/21/2024

We examine the chart on a weekly time frame. It has moved in a constantly falling channel for almost 2 years. Recently, the channel has moved closer to its upper band. Although the price constantly decreased, RSI and MACD, on the contrary, increased and gave a positive divergence. It should not be forgotten that this positive discrepancy has continued for a period of weeks and for almost 2 years. It is a very positive situation that the price is above EMA 21 (Blue line). However, the second average EMA that needs to pass is 55 (Red line). The fact that EMA 55 matches the channel upper band exactly shows that this will be a strong resistance. When we look at the price chart, we see that MLN likes to pump upwards. Coins like this often break trend lines with very high candles. So, you wait for it to break the trend and then retest the trend so you can buy it, but you wait in vain. I mean, even before approaching the trend line, pump candles may appear like the previous ones. If this happens again, it may rise to 41.18. A coin not to be missed by those who say they like risk. HOWEVER; If the upper band of the channel is not broken, there may be a movement towards the lower band of the channel. The first resistance seems to be around 14.80. Of course, what I say here is entirely my thoughts. There is no such thing as necessarily going to happen. It is not investment advice. Abundant Profits.