MLN is on the cusp of a massive breakdown, with the current price hovering just above 2.1800, and I'm watching that OB zone like a hawk - a sweep of the recent highs could be the catalyst for a sharp decline. The higher time frame bias is undoubtedly bearish, and the RSI is sitting at 62, indicating we're not yet oversold, but rather, primed for a move lower.
From a technical standpoint, we're seeing a clear OB+FVG Sandwich zone, which is a high-probability reversal area - the smart money is likely waiting to short this coin, and I'm right there with them. The volume is relatively low at 0.6x, which could be a sign that we're due for a volatility spike.
Here are the key levels to watch:
- Entry: 2.2400
- TP1: 2.1114 (RR 1.7x)
- TP2: 1.9186 (RR 4.2x)
- SL: 2.3171
With the SMC Score at 5.8/10, I'm confident in this short setup. If you're looking to get in on this trade, make sure to keep a close eye on the OB zone and be ready to short $MLNUSDT with a target of 2.1114.
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