MILK has been on a downward trend since its mid-January peak, with limited rebound momentum and lacking fundamental support. The technical bearish pattern remains unchanged, with the $0.00105–$0.00110 range being a key support area; a break below this could lead to further declines. Liquidity is weakening and market risk appetite has not shown significant improvement. It is recommended to remain on the sidelines in the short term. Unless there is substantial positive news from the project side, it is not advisable to buy low in anticipation of a rebound. Instead, focus on overall market risk sentiment and the movement of major cryptocurrencies as operational guidelines.

Since mid-January, MILK's price has continuously declined from its peak of $0.0041, with several rebounds failing to reverse the pattern of lower highs and lower lows. Notably, after hitting a stage low of $0.001465 on January 28, there were volume-driven rallies on February 5 and February 11, but the price quickly fell back, indicating a lack of follow-through buying from bulls. On the current daily chart, the $0.00105–$0.00110 zone serves as short-term support; breaking below it could trigger further declines. The $0.00145–$0.00160 range has become strong resistance, with multiple attempts to break above failing to hold. Trading volume has significantly shrunk recently, reflecting decreased participation, and technically, the bearish trend remains prominent.

Following the release of US January non-farm payroll employment data on February 11, the market grappled with concerns over slowing economic growth and expectations of marginal easing in monetary policy. The short-term style switched from risk aversion to chasing rebounds. MILK surged quickly from $0.00119 to a high of $0.001788 that day, showing temporary recovery in risk appetite as macro data was released. However, this sentiment-driven rally lacked sustained momentum; the next day, prices swiftly fell back to around $0.00110, indicating the market still needs time to digest potential negative factors such as weak employment growth and geopolitical uncertainty, resulting in increased short-term volatility.

Although non-farm data temporarily restored volatility, the overall market still faces the pressure of a high interest rate environment and slowing economic growth. For MILK, there has not been any substantial positive development supporting the project’s fundamentals, and liquidity remains relatively limited, making it more sensitive to macro risks. If global risk appetite does not sustainably improve, and major assets such as Bitcoin and Ethereum continue to test key support levels, MILK's market performance is unlikely to diverge from broader trends, with a higher probability of sideways trading at low levels or further downside. Mid- to long-term attention should focus on recovery in overall market risk appetite and progress in the project’s own ecosystem; otherwise, the bearish pattern will be difficult to reverse in the short term.

MilkyWay

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