$NKN Faces Rejection at $0.0582 — Short Trade in Play

After a nearly 98% intraday surge, NKN/USDT has sharply rejected from the $0.0582 supply zone. The price is currently trading at $0.0460, showing signs of a potential reversal as momentum fades.

24H High / Low:

High: 0.0582

Low: 0.0226

Volume: Surging on peak wick rejections

1H Chart Analysis: Price printed a double top near resistance and broke down, forming a lower high and rejecting from the key liquidity zone.

Short Trade Plan:

Entry Zone: 0.0460

Final Target: 0.0226

Stop Loss: 0.0582

Why This Setup Makes Sense: Price shows exhaustion after extended rally. Strong rejection and bearish engulfing suggest more downside if key support breaks.

Risk Strategy: Partial profit at 0.0350 recommended. Monitor for bounce at mid-support.

Take short trade here on $NKN

#NKNUSDT #ShortSetup #BearishReversal #CryptoTrade #BinanceSignals