NILUSDT is in a clear downtrend on the 4h chart. Price fell from 0.07612 to 0.06191 with mostly red candles and lower highs. The latest candle is a big red one with strong volume, and the long wick above shows sellers pushed price down hard.
RSI(6) is at 18 and RSI(14) is near 31, so the coin is oversold. A small bounce can happen, but I would not call it a reversal yet. MACD is flat below zero, which means momentum is still weak.
Best levels:
Support is 0.06157 first, then 0.06084 below it.
Resistance is 0.06404 first, then 0.06724.
A long needs a 4h close above 0.06404. A short looks better only if price closes under 0.06157. Keep your stop loss tight because this is a risky perp trade.
$NIL
#PriceActionAnalysis #Market_Update
RSI(6) is at 18 and RSI(14) is near 31, so the coin is oversold. A small bounce can happen, but I would not call it a reversal yet. MACD is flat below zero, which means momentum is still weak.
Best levels:
Support is 0.06157 first, then 0.06084 below it.
Resistance is 0.06404 first, then 0.06724.
A long needs a 4h close above 0.06404. A short looks better only if price closes under 0.06157. Keep your stop loss tight because this is a risky perp trade.
$NIL
#PriceActionAnalysis #Market_Update
