$MLN is squeezing shorts aggressively, but price is now entering exhaustion territory after the breakout extension.
No chase here.
The impulsive breakout above 3.10 succeeded structurally, and buyers still control short-term momentum with all EMAs aligned bullish on 15m. However, the current push into 3.75 shows signs of temporary exhaustion with long upper wicks appearing immediately after expansion. This is where late breakout longs usually get trapped if volume fails to sustain. Momentum has not fully failed yet, but continuation quality is deteriorating after a near-vertical move from 2.10 lows. Cleaner entries only appear either on a controlled pullback into 3.25–3.35 support or after a fresh consolidation breakout above 3.75.
Bullish structure remains valid while MLN holds above 3.25.
A failed hold below that level would confirm breakout rejection and shift short-term flow into distribution.