🔰 PAIR: $NKN /USDT

🟢 Short Position Justification:

NKN/USDT is currently exhibiting bearish momentum, with technical indicators suggesting a potential downward movement. The 4-hour chart shows the price struggling below the 50-day moving average, indicating resistance around the $0.0380 level. Additionally, the Relative Strength Index (RSI) is trending downward, approaching the oversold territory, which often precedes further price declines. The Moving Average Convergence Divergence (MACD) also shows a bearish crossover, reinforcing the likelihood of a short-term downtrend.

📉 Entry Targets:

🔸 $0.0367

🔸 $0.0376

🎯 Take Profit Levels:

1⃣ $0.0358

2⃣ $0.0350

3⃣ $0.0337

❌ Stop Loss: $0.0386

📈 Leverage: Cross (50x)

This setup aims to capitalize on the anticipated short-term bearish movement in NKN/USDT, with defined entry and exit points to manage risk effectively. Always ensure to monitor the market closely and adjust your strategy as needed.