【$MLN Signal】Pullback to buy! 1H retracement supports EMA50, main force defending the market under negative funding rate

$MLN On the 1H timeframe, after a sharp surge yesterday, a healthy correction is underway, with the price falling back to a key support zone. The 4H large bullish candle confirms an upward trend, currently in the retracement confirmation stage. The order book shows deep buy support around 3.41, forming a support wall. Open interest remains stable, combined with a negative funding rate, indicating that bears are still paying fees, and the short squeeze risk has not been eliminated. The 1-hour RSI has fallen from overbought to neutral, building momentum for another rally.

🎯Direction: Long

⚡Entry/Order: 3.410 - 3.425

🛑Stop Loss: 3.340

🚀Target 1: 3.580

🚀Target 2: 3.750

🛡️Trade Management:

- Execution Strategy: Reduce 50% of the position after reaching Target 1, and move the stop loss up to the entry price. Hold the remaining position to aim for Target 2; if the price retraces and hits the trailing stop, exit all to lock in profits.

Order book logic: The price retraced from a high of 3.88, precisely testing the 1H EMA50 and 4H EMA20 resonance support zone. In a negative funding environment, open interest has not shown panic decline, indicating it’s not main force offloading, but rather a combination of longs taking profits and shorts adding positions. Buy orders below are significantly deeper than sell orders, showing clear main force support. Once stabilized at the support zone, it can easily trigger short covering and long entry, forming a new rally. The key risk is breaking below the previous low of 3.36, which would turn the trend into consolidation.

View real-time market 👇 $MLN

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