I'm looking at $NIL taking a sharp drop down to 0.07638, cleanly breaking below the MA60 line at 0.07689. The structure is heavy, with lower highs forming and price currently hugging local support.
Price is pulling back hard after rejecting earlier highs, trading well under the MA60 dynamic resistance. While the sell-off is aggressive, jumping short right at local lows or longing without a base is high risk. I'd like to see a relief bounce back up toward the broken MA60 line around 0.07689 to test it as resistance before looking for continuation lower, while a strong push back above 0.07732 invalidates the short bias.
Trade idea:
📍 Entry: 0.07680 - 0.07700 (retest of MA60 / breakdown zone)
🎯 TP1: 0.07630
🎯 TP2: 0.07550
🎯 TP3: 0.07287 (24h Low retest)
🛑 Invalidation: 0.07735
A break and hold above 0.07735 reclaims the previous consolidation range and negates the immediate bearish pressure.
Waiting for a clean retest rather than chasing the breakdown at the bottom.
#NIL @Nillion $NIL
Price is pulling back hard after rejecting earlier highs, trading well under the MA60 dynamic resistance. While the sell-off is aggressive, jumping short right at local lows or longing without a base is high risk. I'd like to see a relief bounce back up toward the broken MA60 line around 0.07689 to test it as resistance before looking for continuation lower, while a strong push back above 0.07732 invalidates the short bias.
Trade idea:
📍 Entry: 0.07680 - 0.07700 (retest of MA60 / breakdown zone)
🎯 TP1: 0.07630
🎯 TP2: 0.07550
🎯 TP3: 0.07287 (24h Low retest)
🛑 Invalidation: 0.07735
A break and hold above 0.07735 reclaims the previous consolidation range and negates the immediate bearish pressure.
Waiting for a clean retest rather than chasing the breakdown at the bottom.
#NIL @Nillion $NIL