Market Overview for Enzyme/Tether (MLNUSDT): Consolidation Amid Mixed Momentum

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Friday, Jan 2, 2026 5:10 pm ET1min read
MLN
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Aime RobotAime Summary

- Enzyme/Tether (MLNUSDT) traded in a 4.76–4.81 range, with a late push to 4.84 and sharp 0700–0800 ET sell-off to 4.75.

- A bullish 5-minute engulfing pattern at 4.78 and weak MACD crossover suggest potential short-term support but fragile reversal signals.

- RSI remained neutral while Bollinger Bands showed moderate volatility, with volume failing to confirm strong bearish momentum despite price drops.

- Key watchpoints include 4.80 retests for bullish confirmation and 4.75 breakdown risks, with 4.86–4.87 as potential near-term resistance.

Summary
• Price drifted within a 4.76–4.81 range overnight, consolidating after a late-night upsurge.
• Volume spiked during the 0700–0800 ET sell-off, coinciding with a sharp price drop to 4.75.
• A bullish 5-minute engulfing pattern emerged near 4.78, hinting at potential short-term support.
• RSI suggests neutral momentum, while Bollinger Bands reflect moderate volatility.

Enzyme/Tether (MLNUSDT) opened at $4.79 on 2026-01-01 12:00 ET, reached a high of $4.84, dropped to a low of $4.75, and closed at $4.86 by 2026-01-02 12:00 ET. The total 24-hour volume was 18,267.65, with a notional turnover of $87,886.97.

Structure & Formations


The price remained in a defined 4.76–4.81 range for much of the day, with a late morning push to 4.84 suggesting growing buyer interest. A bullish 5-minute engulfing pattern appeared near 4.78, potentially signaling a short-term rebound.
A bearish evening at 4.75 showed a sharp breakdown, but no decisive reversal patterns emerged during that decline.

Volume & Turnover


Volume spiked during the 0700–0800 ET period as the price dropped sharply to 4.75, indicating a significant sell-off. However, turnover failed to confirm a strong bearish move, as the price rebounded quickly. The final hours showed increased volume again with a push above 4.80, suggesting renewed buying interest.

Momentum & Volatility


RSI hovered in the neutral range, with no overbought or oversold readings over the 24-hour period. MACD showed a weak bullish crossover late morning, aligning with the price move above 4.80. Bollinger Bands remained wide, indicating moderate volatility, with price spending much of the session near the midline.

Bullish and Bearish Signals

The late push above 4.80 into 4.84, combined with a bullish engulfing pattern, may signal a potential short-term reversal to the upside. However, the earlier breakdown to 4.75 shows that support is fragile. A retest of 4.80 could confirm a resumption of the upward trend.

Forward-Looking Observation


If 4.80 holds and volume confirms a bullish breakout,
MLNUSDT
may test 4.86–4.87 over the next 24 hours. However, caution is warranted if the price revisits 4.75, as a breakdown could trigger further volatility. Investors should watch for a confirmation candle above 4.81 and divergence in volume as key risk signals.