š$NMR /USDT Market Analysis (1H Timeframe)
Current Price: $8.95
24H High / Low: $12.036 / $8.114
Price Action: +8.04% in 24H, but showing clear rejection after a massive spike.
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š§ Technical Overview:
Trend: Short-term bearish after a parabolic spike followed by a sharp dump.
Moving Averages:
MA(7): $9.08 ā Price is below ā short-term pressure.
MA(25): $9.72 ā Acts as strong dynamic resistance.
MA(99): $8.91 ā Currently testing this level for support.
Volume: Spike on breakout, now tapering ā momentum fading.
Candlestick Structure: Consecutive red candles, lower highs/lows = downtrend confirmation.
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š„ Market Sentiment: Bearish Bias
> Price is rejecting from key MAs, forming a descending structure. Support is being tested at MA(99). Unless bulls reclaim $9.70+, the trend favors further downside.
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š SPOT Trading Setup
ā SHORT (high probability):
Entry: $8.90 ā $9.10 (after a minor bounce or candle rejection)
Stop-loss: $9.75 (above MA(25))
Target 1: $8.10
Target 2: $7.93 (recent low)
Target 3: $7.72 (next visible support zone)
Risk/Reward: 1:2.5+
š” LONG (counter-trend, risky):
Only if strong bullish candle off $8.90 level
Entry: $8.90 ā $9.00
Stop-loss: $8.50
Target 1: $9.72 (MA 25)
Target 2: $10.43 (previous breakdown area)
Risk/Reward: 1:2 (high risk)
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āļø Futures Trading Plan
š Short Setup:
Entry: $9.00 rejection or retest of broken trendline
Leverage: 3xā5x
SL: $9.75
TP1: $8.10
TP2: $7.93
TP3: $7.72
š Long Setup (Only if support confirmed):
Entry: Bounce from $8.90
SL: $8.50
TP1: $9.72
TP2: $10.43
Leverage: 2xā3x (use caution)
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š Final Thoughts:
Market structure is bearish unless $9.72 is reclaimed.
Volume is decreasing ā less buying interest.
Ideal strategy: Sell the lower high, then buy near major support if price stabilizes.