$NOM short setup:
Market Sentiment
Status: "Late longs" are likely to be trapped as momentum overextends.
Pattern: Recent explosive gains (up +50% to +90% in 24h) are showing signs of exhaustion near resistance.
Thesis: Volume divergence on the 15m/1h charts suggests a "bull trap" is forming, making a reversal likely.
Trade Setup (SHORT)
Entry Zone: $0.0165 – $0.0172
Stop-Loss: $0.0180 (protection against further breakout)
Primary Targets:
TP1: $0.0155
TP2: $0.0145
TP3: $0.0125
The Outlook
Short-Term: Heavily bearish; indicators like the RSI are signaling extremely overbought conditions.
Key Risk:
$NOM is highly volatile today; if it clears $0.0180 with high volume, the short thesis is invalidated.
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