🚨 🔥🔥🔥
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💡 Quick technical analysis:
✅ Fiery rebound!
After touching the bottom at $0.0175, NKN skyrocketed until it touched $0.0600 before calming down – and now it's returning strongly again at $0.0406 with a 23.78% increase in just 24 hours!
✅ RSI is in the overbought zone!
The RSI indicator is at 81.73, indicating very strong buying momentum – but also calls for caution against a nearby correction.
✅ MACD is in a slightly positive crossover state
The DIF line has started to cross with the DEA line – buying momentum is in its early stages and we may see additional green candles soon.
✅ Significant increase in trading volume (Vol):
The daily trading volume on NKN has exceeded 410 million units! Indicating unusual interest from investors at this price level.
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🚀 Expected scenario:
If the price can break the nearby resistance at $0.0446 (highest price in 24 hours), we may see a new surge towards $0.050 and then $0.060.
In case of a correction, the area of $0.0340 is considered strong support that could bring the price back up again.
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📊 Are we witnessing a formation of an explosive pattern?!
🔍 'Ascending Base' pattern?
The price formed a clear bottom at $0.0175 and then gradually rose with higher peaks – resembling a Cup & Handle pattern associated with rapid explosions.
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🚨 Supporting signals from the indicators:
RSI > 80 → very high buying momentum, but calls for monitoring a potential slight correction.
MACD is positive → momentum is gradually increasing.
Huge volume → large liquidity influx often means readiness for a strong movement.
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🎯 Expected upcoming movement:
Continuous rise if $0.0446 is surpassed
Next resistances: 0.0500 then 0.0600
Vital support: $0.0340
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💬 My personal opinion:
NKN is at a pivotal moment – everything points to an impending explosion, but due to the high RSI, it is wise to monitor any potential correction to enter from a stronger point.
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✅ Final advice:
Use a stop loss below $0.033 to protect your capital.
Follow the indicators moment by moment, the market is moving fast!
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📢 Do you expect NKN to exceed $0.0600 in the coming days? Or will we see a correction first? Share your opinion with me!