Market Overview for Nillion (NILUSDT)

• Nillion (NILUSDT) traded in a 24-hour range between $0.2884 and $0.3055, showing choppy momentum with late-day strength.

• Key support around $0.2950 and resistance at $0.3025 emerged, with a bearish divergence in RSI signaling possible pullback.

• Bollinger Bands widened during the morning hours, indicating increased volatility as price tested upper and lower boundaries.

• On-balance volume increased after 16:00 ET as price surged, confirming late-session bullish activity.

• The 20-period moving average crossed above the 50-period line late in the 24-hour window, hinting at short-term bullish momentum.

Nillion (NILUSDT) opened at $0.2952 on 2025-08-07 at 12:00 ET and closed at $0.2982 on 2025-08-08 at 12:00 ET, with a high of $0.3055 and low of $0.2884. Total volume for the 24-hour period was 5.29 million units, while notional turnover reached $1,586,730.

Structure & Formations

The 15-minute chart showed a series of small bullish and bearish engulfing patterns, particularly between 19:00 ET and 20:30 ET, as price bounced between key levels. A potential bearish divergence appeared around 15:30 ET, where price made higher lows but RSI failed to follow. A key support level at $0.2950 was retested multiple times and held during the overnight session, suggesting a temporary floor. Resistance at $0.3025 appeared significant, especially after a failed breakout attempt in the afternoon.

Moving Averages

On the 15-minute chart, the 20-period moving average crossed above the 50-period MA at 04:45 ET, signaling short-term bullish momentum. However, the 50-period line remained above the 100-period MA, indicating mixed signals in the short-term trend. Over the daily timeframe, the 50-period MA (not explicitly provided) likely remains above the 200-period MA, suggesting a broader bullish setup if the price can consolidate above $0.3025.

MACD & RSI

MACD crossed into positive territory around 04:00 ET and remained above the signal line through 09:00 ET before rolling over, suggesting fading momentum. The RSI peaked above 50 in the morning and dipped below 45 by 15:00 ET, hinting at a potential oversold condition and possible rebound. A bearish divergence between price and RSI emerged in the late afternoon, which could signal a near-term correction unless volume confirms the move higher.

Bollinger Bands

Bollinger Bands expanded in the early hours, reaching a width of approximately 0.010 during the 04:00–06:00 ET window. Price moved between the upper and lower bands during this time, showing increased volatility. By 12:00 ET, the bands had begun to contract slightly, which may indicate a period of consolidation or a potential breakout if price holds above the 15-minute 20-period MA.

Volume & Turnover

Volume surged during the afternoon, particularly between 14:00 ET and 16:00 ET, as price moved up from $0.2962 to $0.2992. Notional turnover also spiked during this period, confirming the strength of the move. However, a divergence appeared after 16:00 ET, where volume decreased while price continued to push higher, suggesting weakening conviction. The late-session rally was supported by increased volume at $0.2982, providing some confirmation for the near-term top.

Fibonacci Retracements

Applying Fibonacci levels to the morning low at $0.2884 and the high at $0.3055, the 38.2% retracement level sits near $0.2973 and the 61.8% level at $0.3015. Price tested the 38.2% level twice and bounced off, suggesting moderate support. The 61.8% level, however, resisted further upside, especially after a failed breakout in the early afternoon. If price pulls back below $0.2973, the next target could be the $0.2950–$0.2945 range.

Nillion appears to be consolidating around key technical levels, with a potential for a test of $0.3030 if buyers step in for confirmation. However, bearish momentum indicators and a late-volume divergence raise caution for further upside in the near term. Investors should watch for a breakdown below $0.2950 or a confirmed breakout above $0.3025 for directional clarity. As always, sharp volatility remains a risk due to the crypto market's inherent sensitivity to macro conditions.