Some things never change😄
Yesterday we highlighted this exact rejection zone, and once again price failed to break above it. Sellers defended the same resistance, confirming that this level remains a major supply area.
Across multiple timeframes, $NIL is starting to lose key moving averages:
15mins Chart Analysis : Price is testing MA99. A close below it would strengthen short-term bearish momentum.
1Hr Chart Analysis : Price is slipping below the MA25, showing buyers are losing control.
4Hr Chart Analysis : Price is also testing the MA99, making this an important support area.
Daily Chart Analysis : Price is sitting around the MA25, and a daily close below it would weaken the higher-timeframe structure.
MACD momentum is fading across the lower timeframes, while RSI is drifting lower, suggesting buying pressure is cooling.
🔻 If these MA supports are lost with strong selling volume:
First downside reaction: 0.0320
Next Zone likely at 0.0310
⚠️ Before Taking a Position
Don't enter a trade just because price touches support.
Wait for:
✅ A candle close below the key MA support.
✅ Increasing sell volume confirming the breakdown.
✅ RSI staying below 50 or making lower lows.
✅ MACD maintaining bearish momentum (no bullish crossover).
If volume is weak or RSI starts recovering, the move could turn into a fake breakdown and lead to a bounce.
For now, the bias remains cautiously bearish while price trades below the recent rejection zone. A clean reclaim above these moving averages would invalidate the immediate bearish outlook.
Yesterday we highlighted this exact rejection zone, and once again price failed to break above it. Sellers defended the same resistance, confirming that this level remains a major supply area.
Across multiple timeframes, $NIL is starting to lose key moving averages:
15mins Chart Analysis : Price is testing MA99. A close below it would strengthen short-term bearish momentum.
1Hr Chart Analysis : Price is slipping below the MA25, showing buyers are losing control.
4Hr Chart Analysis : Price is also testing the MA99, making this an important support area.
Daily Chart Analysis : Price is sitting around the MA25, and a daily close below it would weaken the higher-timeframe structure.
MACD momentum is fading across the lower timeframes, while RSI is drifting lower, suggesting buying pressure is cooling.
🔻 If these MA supports are lost with strong selling volume:
First downside reaction: 0.0320
Next Zone likely at 0.0310
⚠️ Before Taking a Position
Don't enter a trade just because price touches support.
Wait for:
✅ A candle close below the key MA support.
✅ Increasing sell volume confirming the breakdown.
✅ RSI staying below 50 or making lower lows.
✅ MACD maintaining bearish momentum (no bullish crossover).
If volume is weak or RSI starts recovering, the move could turn into a fake breakdown and lead to a bounce.
For now, the bias remains cautiously bearish while price trades below the recent rejection zone. A clean reclaim above these moving averages would invalidate the immediate bearish outlook.