Based on the 1-hour chart for $NKN from Binance, here are my key observations and a short-term price movement prediction:
Key Technical Indicators:
1. Current Price: $0.0402 (+17.20% in 24h).
2. Volume Spike: Increasing volume confirms buying interest and supports the price breakout.
3. Moving Averages:
MA(7): 0.0393 — short-term trend is bullish.
MA(25): 0.0364 — medium-term trend is turning bullish.
MA(99): 0.0378 — price is now above long-term resistance, indicating a breakout.
4. RSI(7): 74.25 — indicates overbought conditions.
5. Candlestick Pattern: Strong green candles with higher highs and higher lows indicate strong upward momentum.
Short-Term Prediction (1–4 hours):
Bullish Bias: Given the strong breakout above the MA(99) and high volume, price could test $0.0437 (24h high) again.
Caution: RSI is above 70, signaling a potential short-term pullback or consolidation before another leg up.
Potential Scenarios:
1. Bullish Continuation:
Target: $0.0445–$0.0450
Confirmed if price stays above $0.0395 support.
2. Pullback Zone:
If RSI triggers a sell-off, support levels to watch: $0.0390 and $0.0375 (MA(99)).
