Gathering thoughts for future reference.
I have noticed very similar behaviour on these two assets. NKN looks to be having a similar run to RALLY soon, as we see volume increasing upon reaching the previous spike high. Volatility is also increasing as we come into the high. RSI heavily trending in bullish control zone.
Looking for an explosive 24-48 hour move...
Still time for retest atleast to 0.39, NKN is going through a very strong resistence on the ichimouku cloud, it's fighting through it but that is why you're finding big red candles come in out of nowehere, it's under bearish territory.
However, it went over strong resistence levels on the daily, and is not retesting the 0.40 - 0.35 as support.
DMI is bullish,...
NKNUSDT Technical analaysis Update
NKN/USDT currently trading at $0.2550
Resistance Zone Breakout.
In the above chart, price multiple times touched resistance after continuous consolidation finally we can see the resistance zone breakout.
Buy level : Above $0.250
Stop loss: $0.209
NKNUSDT is making a cup handle formation in the 4h frame time. The support and resistance lines are given in the graphic. The main resistance line of the formation is 0.89$. Once it is broken upwards and after a possible re-test, it is good to open a position or hop in. This is not a finance advice. DYOR.
A newer crypto currency that has been released yesterday on Coinbase at a very low price still. Price is following an ascending trendline & an uptrend. Price has now found a Demand Zone, which also aligns with the 61.8 fibonacci retracement. From this area, I will be watching price to make a move higher for potential a new higher high next.
💎Technical Analysis Summary💎
-NKN broke its key level for support after trading above 150s sat
-The price tried to reclaim the previous region but failed
-It painted a Bearish retest and if the Bulls can't show up a fight
-Potential downtrend structure is likely to happen this week
-Please don't try to catch a falling knife without a trading...