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Summary
• Price rallied from 0.0755 to 0.0777 before retreating to 0.0766, forming a bullish engulfing pattern around 0.076–0.077.
• RSI signaled overbought conditions above 0.0773, but momentum faded as volume declined midday.
• Bollinger Bands narrowed after 0.0764, indicating consolidation; volatility remains compressed.
• Turnover spiked during the 0.0767–0.0775 rally, showing strong buying interest, but diverged from price during the late sell-off.
• Key support now at 0.0754 (daily pivot), with 61.8% Fib level at 0.0757 suggesting limited near-term downside risk.
Nillion/Tether (NILUSDT) opened at 0.0756 on January 17, reached a high of 0.0777, and closed at 0.0766 on January 18. The 24-hour volume totaled 1,502,038.6, with a notional turnover of $113,622.36.
Price action showed a clear bullish thrust into the midday hours, with a breakout above 0.0773 followed by a sharp retest. A bullish engulfing pattern emerged at 0.0764–0.0771, indicating short-term buying pressure. However, the subsequent pullback to 0.0765 suggests the move may lack follow-through unless volume increases.

The RSI approached overbought territory (70+) during the rally but failed to confirm momentum with a strong close, hinting at possible profit-taking. MACD remained positive during the peak but flattened as price consolidated, suggesting a potential pause in upward momentum.
Bollinger Bands were narrow during the consolidation phase, showing low volatility, and price remained within the channel, indicating a balanced market. A 20-period EMA crossed above the 50-period EMA on the 5-minute chart, signaling a possible near-term bias to the upside.
Fibonacci retracement levels suggest 0.0754–0.0757 as critical support for the next 24 hours, with a potential bounce expected if buyers re-enter.
Traders should monitor volume and price action around 0.0764–0.0771 for a possible continuation of the bullish trend, though a break below 0.0754 could open the door to further downside. Caution is advised due to mixed momentum signals.
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