Profit

$MLN Let's study how much it will drop after breaking 6.
I will enter a small position first. Short

{future}(MLNUSDT)
Short-term rebounds cannot hide the weakness, the 6-dollar mark may become a key test

Today, $MLN perpetual contracts welcomed a wave of rebound, with a 24-hour increase of over 26%, the latest price reported at 6.606 dollars. Behind the seemingly strong market, there are actually many hidden concerns. The previously focused 6-dollar mark remains a key observation point for the future.

From the market data, although MLN surged to 7.734 dollars during the day, it quickly fell back after that. In the 15-minute candlestick, the MA7 moving average is above the current price, forming short-term resistance. In terms of trading volume, although the 24-hour transaction amount reached 1.52 billion USDT, the volume after the price surge did not continue, and the recovery of the OBV indicator also shows a lack of strength, indicating that the funding support for this rebound is not solid.

Reviewing the performance over the cycle, behind the 30.68% increase of MLN in 7 days is a medium to long-term weakness of -4.92% in 30 days and -21.31% in 90 days. This rebound seems more like a repair market driven by short-term sentiment rather than a trend reversal. Combined with the previous trend, MLN has previously tested below the 6-dollar area multiple times. This mark is not only an important support level previously but also a watershed for market sentiment: if the subsequent volume cannot continue to expand, the price is likely to test 6 dollars again, or even approach the 24-hour low of 5.130 dollars; only by stabilizing above 6.8 dollars can further rebound space be opened up.

For trading, one must be cautious of the risk of a pullback after the rebound in the short term. The gain or loss of the 6-dollar mark will become the core signal for judging MLN's subsequent trend, do not chase high.