The currency recently experienced a "pump" that brought it to the 4.09 range, followed by a natural and calm correction. We are now in a "accumulation" phase or retesting previous support areas, which makes it one to watch.
๐ฏ Potential price targets (seize the opportunity):
โข First target: 3.95 (near resistance area).
โข Second target: 4.10 (breaking the last peak).
โข Strategic target: 4.50 (if the positive market momentum continues).
๐ Controversial scenarios:
โข Positive scenario: A breakout above 3.85 and stabilizing above it with an hourly candle opens the door for a qualitative leap towards 4.10 and then further levels.
โข Cautious scenario: The current volatility requires monitoring the key support areas at 3.65 and 3.40; breaking these areas may lead to a temporary drop to liquidate contracts.
๐ Buy and sell zones:
โข Buying: The ideal area currently is between 3.70 and 3.75.
โข Selling: Take partial profits at 3.95, and hold the rest for the strategic target.
๐ก A golden tip for traders:
"Don't chase long green candles!" Entering now in a calm phase after the price explosion is much better than entering at the peak. Stick to a stop loss below the 3.40 area to protect your capital.
๐ What will happen in the coming days?
The currency is expected to experience a phase of sideways consolidation before the second attempt to break the $4 level. If the currency can maintain closes above 3.70, the next explosion will just be a matter of time.
โ Question for discussion:
Do you think MLN can break the $5 barrier before the end of the month? Share your opinion in the comments!
โค๏ธ If you liked the analysis, please give us a like, comment, and follow to receive all the latest updates.