$NMR Higher volume on price increases suggests stronger bullish conviction, while low volume on dips may indicate weak selling pressure.
Key Technical Indicators:
Moving Averages (MA):
50-Day SMA: Estimated to hit $15.79 by mid-February 2025, per CoinCodex. If NMR is trading below this level today, it could indicate bearish pressure; above it, bullish momentum.
200-Day SMA: Projected to drop by mid-February 2025, suggesting a longer-term bearish trend unless NMR breaks above key resistance.
Relative Strength Index (RSI):
RSI of 34.01 in early 2025, indicating neutral conditions (not overbought or oversold). CoinDataFlow reported an RSI of 30.23 in March 2025, close to oversold territory. If RSI is below 30 today, NMR might be undervalued, signaling a potential buying opportunity; above 70, it could be overbought.
Bollinger Bands:
NMR was above the upper Bollinger Band on a 30-minute chart, indicating overbought conditions and a likely pullback. Check current charts to see if NMR is still near the upper band or reverting to the mean.
Support and Resistance Levels:
Support: Support around $7.8–$8.32. A support level at $11.26 in early 2025.
Resistance: Resistance is noted at $14.57, with potential to move to $16.55 if breached. A breakout above a falling wedge pattern, targeting $26 if momentum holds.
Confirm Trends:
If NMR is above the 50-day SMA and RSI is below 70, it may have bullish potential.
If near or above the upper Bollinger Band with high volume, expect a possible pullback.
Not Financial Advice, DYOR!!
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