Everyone saw the price explosion, but the important thing is to understand what drove $NMR up so quickly before buying or selling at these levels.
Before the breakout, Short positions had built up alongside sharply negative funding. Once Spot liquidity came in, a cascade of liquidations began, turning sell positions into forced buy orders that pushed the price toward $19.
Now the picture has changed: Open Interest and CVD have started to decline, and the price is entering a correction and rebalancing phase.
๐ Correction levels Iโm watching:
Target 1: $14.61
Target 2: $14.17
Target 3: $13.72
Key retest zone: $12.80โ$13.20
So chasing $NMR after this breakout isnโt a good idea. Itโs better to wait for a correction and for the price to stabilize around support levels.
Before the breakout, Short positions had built up alongside sharply negative funding. Once Spot liquidity came in, a cascade of liquidations began, turning sell positions into forced buy orders that pushed the price toward $19.
Now the picture has changed: Open Interest and CVD have started to decline, and the price is entering a correction and rebalancing phase.
๐ Correction levels Iโm watching:
Target 1: $14.61
Target 2: $14.17
Target 3: $13.72
Key retest zone: $12.80โ$13.20
So chasing $NMR after this breakout isnโt a good idea. Itโs better to wait for a correction and for the price to stabilize around support levels.
