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Summary
• Price dropped from 0.0748 to 0.0718, forming key support at 0.0718 and resistance at 0.0741.
• Volume spiked at 0.0718, confirming short-term support but leaving bearish momentum unresolved.
• RSI hovered near 30–40, indicating moderate oversold conditions without a clear reversal signal.
• Bollinger Bands narrowed before 0.0725, hinting at a possible breakout or breakdown ahead.
Nillion/Tether (NILUSDT) opened at 0.0737 and traded between 0.0718 and 0.0748, closing at 0.0727. The pair saw a total volume of 9,985,126.1 and a turnover of 716,966.69 USD.
Price Structure and Key Levels
Price tested key resistance at 0.0741 and support at 0.0718 multiple times. A bearish engulfing pattern formed near 0.0728, and a doji appeared around 0.0725, suggesting indecision. Fibonacci retracement levels from the 0.0741–0.0718 swing suggest 0.0727 as a 38.2% retracement level, which may offer short-term resistance.
Volatility and Momentum Indicators
Bollinger Bands narrowed around 0.0725–0.0731, indicating a potential breakout. RSI remained in a range-bound 30–40 zone, with no clear reversal signal. MACD remained below zero, confirming bearish momentum.
Volume and Turnover Analysis
Volume surged at 0.0718, validating the support level, while turnover spiked during the 19:00–20:00 ET window. Price and turnover aligned at key support, reinforcing the validity of the level.
While the 0.0718 support appears solid, traders should watch for a break below that level to confirm further bearish intent. A rebound above 0.0727 could signal a short-term pullback, but bearish momentum remains intact for now. Investors should be mindful of potential volatility if the 0.0718 level fails.
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