$MLN Just Snapped the Downtrend! Bulls Are Back? đą
After weeks of bleeding red, $MLN (Enzyme) just pulled off a textbook breakout â bouncing from a low of $7.85 straight to a local high of $8.90 in just hours. Currently holding around $8.69, this could be the start of a reversal for the DeFi veteran. đ
đ Chart Breakdown:
đ„ Massive Bullish Candle: Strong buy-side momentum after a long consolidation and gradual decline.
đ Previous Trend: MLN had been down -58.68% YoY, but today's bounce of +7.02% hints at a sentiment shift.
đą Order Book Strength: 64.18% buyers vs 35.82% sellers â the bulls are clearly louder today.
đ§ Market Psychology:
This move likely liquidated short positions, opening the path for a trend reversal.
If $8.47â$8.50 holds as support, we could be looking at $9+ retest or even a trend reversal confirmation above $9.10.
⥠Quick Sentiment Snap:
đ 24h High: $8.90
đ 24h Low: $7.85
đ Volume Surge: Strong move with 420K MLN traded â that's no fluke.
đŹ Are we witnessing the start of $MLN âs DeFi comeback? Or just a dead cat bounce?
Drop your thoughts below. đ
đ Not Financial Advice â just chart vibes. Always DYOR and stay sharp. đđđ
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