$NKN

Current Market Conditions

Price: $0.0432 (up +23.08%)

24H High: $0.0434, close to current price (likely a resistance)

RSI(6): 86.15 → Overbought

MACD: Positive, bullish crossover

Volume: Spiking up (momentum confirmation)

Moving Averages: MA(5) > MA(10) → Bullish short-term trend

Trade Suggestion (Short-Term Swing or Scalping)

1. Entry Point (Long):

Wait for a pullback to the $0.0400 - $0.0410 range:

This aligns with a possible support zone near recent consolidation.

Avoid chasing the price at a local peak (overbought RSI > 80).

2. Stop Loss:

Set SL at $0.0385

Below recent structure lows and under minor support to allow for volatility.

3. Take Profit (TP):

Target TP at $0.0455 - $0.0465

Slightly above the current 24H high, aiming for a breakout.

Potential measured move from the last upward leg (~$0.0362 to $0.0434).

Reasons:

RSI is overbought → Caution for immediate entry.

Strong upward momentum supported by volume and MACD.

Risk-reward ratio (RRR) of approx 1:2 if entered after pullback.

Do you plan to hold short-term or are you considering a longer position (4H or 1D)?