$NIL has moved from around $0.040 to above $0.10 in just a week, with volume rising sharply along the way.
What makes this move interesting is the upcoming Nillion Encrypted Covenants launch on Ethereum mainnet, scheduled for September 28. The market appears to be pricing in that event already.
Now the important part is the $0.085–$0.075 area. If NIL can hold above this zone after such a fast move, the bullish structure stays interesting. But after a 150%+ move in 30 days, volatility and profit taking can also become much stronger.
#NIL
What makes this move interesting is the upcoming Nillion Encrypted Covenants launch on Ethereum mainnet, scheduled for September 28. The market appears to be pricing in that event already.
Now the important part is the $0.085–$0.075 area. If NIL can hold above this zone after such a fast move, the bullish structure stays interesting. But after a 150%+ move in 30 days, volatility and profit taking can also become much stronger.
#NIL
