$MLN just completed a key volume breakout on the 2H timeframe.
The price is currently holding steady around 3.3500.
The core signal is this candlestick closing directly above the three mid-long term moving averages.
Volume has increased by 2.64 times.
This indicates that the breakout is backed by real capital.
🔥 The price is now sitting above the EMA144, 169, and 233.
Although the moving averages haven't fully aligned bullishly yet, the early signs of a trend reversal are present.
Currently, the RSI is around 55.4, with momentum expanding upwards.
The only concern is that the chasing cost is rising after a short-term spike.
Key support zone is between 3.0328 and 3.0588.
As long as this range holds, the upside potential is completely opened up.
📍 Keep an eye on the defensive point at 3.0328.
Trading plan (long):
Entry: 3.3500 – 3.3600
Stop loss: 3.0268
First target: 3.8474
Second target: 4.1757
Third target: 4.6680
Why choose this setup?
• 2.64 times the volume accompanying the breakout shows clear signs of capital entering
• Stop loss is set below the moving average support at 3.0328, making risk-reward and logic favorable
• RSI at 55.4 indicates that momentum isn't overheated yet, leaving room for further gains
• First time above the three lifelines, this is a standard trend confirmation point
⚠️ N.F.A. For reference only.👇️
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