$NKN Due to the significant rise in the RSI index, caution is advised regarding the possibility of a near-term correction. However, if the high trading volume continues, the upward movement may persist. NKN shows strong performance with the potential for further gains, but caution is advised due to the possible correction from overbought conditions.
Overall trend:
- The NKN coin is experiencing strong upward movement, having reached a high of 0.0446.
- Moving averages indicate an upward trend, with the short-term average (7 days) crossing above the longer averages (25 and 99 days), reinforcing the likelihood of continued gains.
- The RSI is at 82.25, indicating that the coin is in overbought territory and may be prone to a correction in the near term.
Technical indicators:
- The MACD is positive, indicating that the upward momentum is continuing.
- Trading volume is high, especially in the NKN/USDT pair, reflecting significant interest from buyers.
Key levels:
- Support: 0.0367 (7-day moving average) then 0.0348 (25-day moving average).
- Resistance: 0.0446 (today's high). If this resistance is broken, the coin may target the 0.05 level.
Quick recommendation:
- For current buyers: It is preferable to stay in the trade with a stop-loss at 0.0367.
- For new traders: Wait for a correction to the 0.037-0.038 levels for a safer entry.
