Greetings, dear friends!
$NIL In one day it added about 32%, but after reaching 0.14950 the price has already pulled back to 0.127.
On the 15-minute chart, the price is currently practically at AVL 0.12825. Below it runs the Supertrend at 0.12093. As long as this level holds, it’s too early to talk about a break in the current move.
On the 4-hour chart, the picture is similar: Supertrend is at 0.08968, and AVL is at 0.13567. That means the price is still significantly above the main support, but it still needs to reach back above 0.1357.
It’s interesting to look at the futures as well. After the rise to 0.14950, open interest began to decline. At the same time, by accounts now there are 54.81% shorts versus 45.19% longs; funding is 0.005%.
As for the levels, I would look first of all at 0.1209 and 0.1357. Above 0.1357, there is still the possibility of a retest of 0.1495. Below 0.1209, the next noticeable level on the chart is around 0.1100.
The reason for the increased attention to $NIL is also coming from the project itself. Nillion lists September 28 as the release date for Dusk on the Ethereum mainnet. This is the first stage of launching Covenants on Ethereum L1.
Meanwhile, the scale of the move over the past days has already been very large: from the close around 0.062 on September 20 to a maximum of 0.149 on September 24.
Therefore, the key levels now are precisely 0.1209 and 0.1357. Holding the first keeps the growth structure intact, and a return above the second will make it possible to check the 0.1495 maximum again. Losing 0.1209 will significantly increase the probability of a move toward 0.1100.
This is my personal analysis of the chart and market data, not financial advice, an investment recommendation, or a trading recommendation. This is especially true for trading futures and using leverage.