Enzyme ($MLN) Price Prediction 2024–2030: Can It Overcome Past Dips and Rebound?

• 2024: Based on the current growth rate and 50-day moving average, $MLN could reach $25 by the end of the year. However, a break below the $13.40 support level could cause a drop to $10.
• 2025: If it maintains its upward trajectory, $MLN could reach $47 or fall below $16 if it fails to break the current resistance level.
• 2030: Depending on Enzyme Finance platform updates and broader market conditions, $MLN has the potential to reach a target price of $98 or find a new support level at $11.

Enzyme's ($MLN) price has always been volatile, which earned it a monitoring tag on Binance and put it at risk of delisting.

Now that the token has stepped out onto the recovery path and the monitoring tag has been removed, you can trade $MLN without passing Binance's risk assessment quiz. Let's explore $MLN price prediction for 2024 and beyond.

What Is Enzyme ($MLN)?$MLN is the native token of Enzyme Finance, a decentralized asset management platform built on Ethereum.

Historically, asset management has been the domain of professionals, but Enzyme lowers entry barriers and allows anyone to create, manage, and invest in custom financial vehicles like liquidity pools and funds. $MLN gives users access to the platform's services and governance rights.

$MLN Historical Price

After soaring to $246 in 2018 and bringing its early supporters an over 500% gain, $MLN fell below its listing price of $40. It recovered briefly in 2020, only to dip again, reaching its all-time low of $1.80.

In 2021, $MLN rebounded to $147 but slumped below $30 and now stands at $20.73.

Luckily for $MLN's long-term holders, the token has been on an upward trend this year, with a 13.89% year-to-date increase.

While $MLN is still a long way from its all-time high, technical analysis suggests the token has begun a cautious recovery.

$MLN Price Prediction 2024

Currently, $MLN is trending bullish, with the 50-day moving average sloping up but below $MLN's current price. This suggests that the buying pressure is stronger than the selling pressure and could provide support if the price were to pull back.

Meanwhile, a Relative Strength Index of 46.6 (neutral) indicates that $MLN's price will unlikely experience drastic swings in the near future.

If $MLN continues its growth trajectory at the current monthly rate of 4.3%, it may reach $25 by the end of the year.

This scenario is plausible given that Enzyme is preparing to deploy on Arbitrum. This will allow integration with projects within the ecosystem and potentially increase $MLN adoption.

However, if $MLN breaks below its support level of $13.40, investor sentiment could turn bearish and lead to further decline. A brief rebound and a failure to regain its former level would confirm the bearish trend and $MLN could find a new support level at $10.

$MLN Price Prediction 2025$MLN's price in 2025 depends on its ability to break its $26.30 resistance level.

Repeated failed attempts at recovery may indicate a loss of momentum and cause a bearish sentiment, causing it tofall below $16, a 20% dip from the current price.

The potential US recession, tightening government regulations, or lack of project updates could force $MLN to drop below $4, repeating the 2019 scenario.

This would translate into an 80% loss for investors who bought it at $20.

On the other hand, favorable macroeconomic conditions and significant project advancements could support $MLN's upward trajectory, helping it reach $47 by the end of the year. This translates into a 132% increase from the current price.

$MLN Price Prediction 2030$MLN's historical price movements suggest it could go either way. In the most favorable outcome, we predict it to reach $98, representing a roughly 383% gain for investors who bought it in 2020.

In a negative outcome, $MLN could find a new support level at $11, a 45% drop from the current price. Given $MLN's history of extreme volatility and lasting bearish phases, a rebound from this slip would be unlikely.

It's worth noting that technical analysis has less power for predicting Enzyme's price in the long term.

This is because the crypto market is susceptible to external forces like the regulatory landscape, macroeconomic conditions, and technological innovations. All these factors can impact $MLN's price.

Can $MLN Regain Its Glory?

$MLN's price history is erratic, which makes its future uncertain. Ultimately, $MLN's value hinges on the adoption and development of the underlying project, Enzyme Finance.

Whether $MLN is a good investment depends on your trust in the project's long-term vision, its ability to execute its roadmap, and the overall growth of the DeFi industry.

References

Click to expand and view references

• Enzyme (TradingView)
• Enzyme (CoinMarketCap)
• What is Enzyme? (Enzyme Finance Docs)
• Enzyme (X)
• Announcement (Binance)
• Relative Strength Index (RSI) Indicator Explained With Formula (Investopedia)

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