Market Overview for Enzyme/Tether (MLNUSDT): 24-Hour Analysis

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Tuesday, Dec 23, 2025 4:43 pm ET2min read
MLN
--
Aime RobotAime Summary

- MLNUSDT consolidates near $4.68–$4.70 with key support at $4.66 and resistance at $4.72.

- Bearish momentum confirmed by rising volume and bearish MACD divergence after failed rebound.

- RSI indicates oversold conditions, but bearish signals suggest further downside risks below $4.63.

- Fibonacci levels align with support at $4.69 and potential target at $4.56 if $4.63 breaks.

Summary
• Price consolidates around $4.68–$4.70, with key support near $4.66 and resistance near $4.72.
• Rising volume in late hours confirms bearish momentum after a failed rebound attempt.
• RSI suggests oversold conditions, while MACD shows bearish divergence.
• Bollinger Bands reflect moderate volatility, with prices near the lower band.
• Recent Fibonacci retracement levels align with key swing points near $4.69 and $4.63.

Market Overview

Enzyme/Tether (MLNUSDT) opened at $4.81 on December 22 at 12:00 ET, reached a high of $4.87, fell to a low of $4.63, and closed at $4.68 on December 23 at 12:00 ET. Total volume for the 24-hour period was 85,250.69 units, with a notional turnover of approximately $397,972.

Structure and Candlestick Formations

Price action reveals a bearish exhaustion pattern, with several key bearish engulfing candles forming between 01:30 and 02:00 ET, signaling profit-taking and renewed selling pressure. A long lower shadow at 05:45 ET suggests rejection at $4.66, a critical support level that appears to be holding. A doji formed at 11:45 ET, hinting at indecision near $4.66–$4.68.

Moving Averages

On the 5-minute chart, the 20-period MA crossed below the 50-period MA in late hours, reinforcing bearish momentum. Daily moving averages (50, 100, and 200) remain above current price levels, suggesting further downside could be supported by short-term buyers.

MACD and RSI

The MACD histogram has turned bearish after midday, with a widening gap between the line and signal, showing diverging price and momentum. RSI dipped below 30 in late hours, indicating potential oversold conditions, though bearish divergence in the MACD suggests caution for any rebounds.

Bollinger Bands

Volatility remains moderate, with Bollinger Bands narrowing slightly in the early hours and expanding in the late hours.

Price settled near the lower band at close, reinforcing bearish sentiment and indicating limited upside potential in the near term.

Volume and Turnover

Volume surged during the early morning sell-off, peaking at $4.75 and $4.69, with turnover aligning with key price declines. The divergence between rising volume and falling price after 07:00 ET suggests bearish conviction. Turnover remains consistent with volume patterns, offering no signs of manipulation.

Fibonacci Retracements

Applying Fibonacci retracement to the most recent 5-minute swing from $4.87 to $4.63, price appears to find temporary support near the 50% level ($4.75) and the 61.8% level ($4.69). A break below $4.63 could target the next key level at $4.56. On the daily chart, the 61.8% retracement aligns with recent support at $4.66.

In the next 24 hours,

MLNUSDT
may test the $4.66 support, with a potential for a short-term bounce if buyers step in. However, without a convincing reversal pattern or strong volume confirmation, further downside could be likely. Investors should remain cautious of bearish continuation risks amid mixed momentum signals.