$MLN is under heavy pressure right now. 📉
The pair touched a 24H high near $3.00, but sellers completely took control after the rejection. Price dropped sharply and is now trading around $2.40 with more than 7% downside on the day.
What makes this move important is the bigger picture: • 7D performance: -23.81% • 30D performance: -23.08% • 90D performance: -34.60% • 1Y performance: -72.57%
This is not just a small correction anymore. The chart clearly shows strong bearish momentum after the failed push toward $2.60. Buyers tried to defend the $2.38 zone, but volume still looks weak compared to the selling pressure.
Right now, $2.38 is acting as the key short-term support. If this level breaks, panic selling could increase very fast. On the other side, MLN needs a strong recovery above $2.50–$2.60 to rebuild confidence in the market.
Traders are watching closely because these types of sharp drops often create high-risk but high-opportunity setups. Volatility is increasing and the next move could be aggressive in either direction. ⚡
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