$NIL

Based on the chart you provided, the NILUSDT pair is currently in an uptrend, and both the 50 MA (Moving Average) and 200 MA are trending upwards, which can be a bullish signal. However, a few factors should be considered:

Key Considerations:

Bullish Trend: The price has recently rallied well and is holding the support level.

Increasing Volume: The volume has significantly increased in the last few candles, which usually confirms market movement.

Sharp Retracement: A large candle appears at the recent peak, causing a slight pullback—this could be a profit-taking phase.

Check RSI and Other Indicators: If RSI is overbought (above 70), a temporary correction might occur.

What Should You Do?

Short Position Consideration: If you believe the price is overbought and will struggle to break resistance, a short position could be taken for the short term.

Long Position Consideration: If the price holds the support level and bounces back, a long position might be a good option.

My Suggestion:

For Scalping Trades: Wait a bit—if the price stabilizes around $0.80-$0.82 and shows signs of a bounce, a long entry could be a good option.

For New Entries: A long trade can be considered if the price holds the $0.78-$0.80 support level.

Stop-loss: If you go long, set a stop-loss around $0.75-$0.77 to minimize risk.