Market Overview for Nillion/Tether (NILUSDT) on 2026-01-08

Summary
• Price declined from 0.0736 to 0.0682, forming bearish patterns and testing key support levels.
• High volatility and volume spikes occurred during the early hours, followed by consolidation.
• RSI indicates oversold conditions, while Bollinger Bands widen, signaling increased uncertainty.
• Volume and turnover diverged in the final hours, suggesting potential distribution or indecision.
• 61.8% Fibonacci level near 0.0696 appears to act as a temporary floor.

Nillion/Tether (NILUSDT) opened at 0.0718 (12:00 ET − 1), reached a high of 0.0736, and closed at 0.0682 by 12:00 ET today. Total 24-hour volume was 4,873,314.4, with notional turnover at 337,778.73 USDT.

Structure & Formations

The price action formed several bearish candlestick patterns, including a bearish engulfing formation and a long lower shadow near the 0.0682 close. Key support levels emerged around 0.0682–0.0685, while resistance is evident at 0.0695–0.0700.

Indicators & Momentum

MACD turned bearish with a negative crossover, reinforcing downward momentum. RSI approached oversold territory (~25), suggesting a potential short-term bounce. However, divergence between RSI and price indicates lingering bearish pressure.

Volatility & Bollinger Bands

Bollinger Bands expanded during the early morning session, indicating heightened volatility. The price remained near the lower band for most of the day, signaling a weak trend and potential for a mean reversion.

Volume & Turnover

Volume surged in the early hours, with a notable 232,283.0 volume bar at 00:45 ET coinciding with a sharp drop to 0.0704. However, volume waned in the final hours, with turnover failing to confirm any strong directional move, suggesting a period of consolidation or distribution.

Fibonacci Retracements

The 61.8% Fibonacci retracement level at 0.0696 acted as a minor support. A break below 0.0682 could target 0.0675–0.0670 for further correction, aligning with a key psychological round level.

The market appears to be in a transitional phase, with bearish momentum still intact despite oversold RSI. A rebound above 0.0693 could test the 0.0696–0.0700 range, but traders should remain cautious of potential follow-through selling if key supports fail.