🔻 $NIL /USDT SHORT SETUP ALERT 🔻
Nillion ($NIL ) is attempting a weak relief bounce after a sharp descent from its peak! 🚨
Following a major parabolic expansion that topped out at $0.14950,$NIL experienced a heavy sell-off. The current green daily candle represents a potential low-volume dead-cat bounce right into resistance near EMA(7). With RSI(6) resetting to 54.70, the asset has room for another leg down if resistance holds.
Key Technical Breakdown:
* Overhead Resistance Zone: The $0.09200–$0.09950 range acts as strong resistance (near 24h high of $0.09948 and daily EMA7 at $0.09099).
* Decreasing Volume on Bounce: The recent upward move is supported by lower trading volume compared to the initial breakdown phase.
* Lower High Structure: The overall structure points toward a potential lower-high formation following the peak high rejection at $0.14950.
Trade Setup:
* Entry Zone: $0.09300 – $0.09900 (Look for rejection wicks or weakness on lower timeframes near $0.09950)
* Stop Loss (SL): $0.10650 (Positioned safely above local lower-high structure)
* Take Profit Targets:
* 🎯 TP 1: $0.08200 (Recent daily swing low support)
* 🎯 TP 2: $0.07370 (EMA25 retest zone)
* 🎯 TP 3: $0.06000 (Major psychological support level)
⚠️️ Risk Notice: Manage your risk carefully and adjust position size according to your risk management plan.
#NIL #CryptoTrading #ShortSetup #BinanceSquareTalks #CryptoSignals