Added to the pre-surge watchlist: $NIL — up +115% over 30 days, with another +9.7% in the past 24h. Open interest is still building at $7.9M.
But take a measured look: the funding rate is still -0.005% (shorts are paying), so this isn’t a rush by longs to pile in; the OI/price ratio hasn’t shown any significant volume expansion. NIL has a history of frequent pullbacks of 40% or more. A sharp 30-day gain is par for the course with high-volatility coins, so don’t get carried away by one stretch of gains.
For the cautious: consider waiting for the 24h gain to stabilize, then see if a pullback holds above the previous low. Don’t chase the first green candle. #Alpha
But take a measured look: the funding rate is still -0.005% (shorts are paying), so this isn’t a rush by longs to pile in; the OI/price ratio hasn’t shown any significant volume expansion. NIL has a history of frequent pullbacks of 40% or more. A sharp 30-day gain is par for the course with high-volatility coins, so don’t get carried away by one stretch of gains.
For the cautious: consider waiting for the 24h gain to stabilize, then see if a pullback holds above the previous low. Don’t chase the first green candle. #Alpha