$NKN /USDT Short Signal Alert
Current Price: $0.04058 (Binance)
Change: -15.63% (24H)
Timeframe: 4H
Trade Setup:
NKN/USDT has shown an explosive move to a high of $0.05799, followed by a clear rejection and retracement, indicating potential exhaustion in buying momentum.
Entry (Sell): $0.04050 – $0.04150
Take Profit Targets:
TP1: $0.03750
TP2: $0.03420
TP3: $0.03050
Stop Loss: $0.04560 (Above recent rejection zone)
Key Points:
Bearish Divergence: RSI(30) is cooling off from overbought territory (currently at 67.71), signaling reduced buying strength.
MACD: Bullish momentum is fading; histogram is declining.
Volume Decline: Falling volume on recent green candles suggests weakening buyer interest.
Rejection Zone: Strong rejection near $0.058 with long upper wicks confirms resistance.
Pro Tip:
Watch for a breakdown below $0.03750 for momentum confirmation. Avoid shorting if price reclaims $0.04560 with strong volume.$NKN