The NKN/USDT chart on the 4-hour timeframe is showing a bullish trend supported by a rising trendline, indicating a series of higher lows. The price is currently approaching a critical resistance zone around 0.0794 USDT, a level that has rejected upward momentum in previous attempts.
Analysis
Trend: NKN is in an uptrend, confirmed by the upward-sloping trendline and increasing price action.
Indicators: The Relative Strength Index (RSI) is currently around 61.73, suggesting that NKN is slightly overbought but still has room for potential upward movement before reaching overbought territory (>70).
Potential Bullish Breakout: If the price manages to break above the 0.0794 USDT resistance level, it could trigger further upside momentum.
Trade Idea
Entry Point: A potential entry is around the current price of 0.0766 USDT, with confirmation from bullish candlestick patterns or volume spikes in lower timeframes.
Take Profit (TP):
TP1: Set at 0.0794 USDT, the current resistance level.
TP2: Set at 0.0850 USDT if the breakout continues past the resistance.
Stop Loss (SL): Set at 0.0711 USDT, below the trendline support, to manage risk in case of a bearish reversal.
Analysis
Trend: NKN is in an uptrend, confirmed by the upward-sloping trendline and increasing price action.
Indicators: The Relative Strength Index (RSI) is currently around 61.73, suggesting that NKN is slightly overbought but still has room for potential upward movement before reaching overbought territory (>70).
Potential Bullish Breakout: If the price manages to break above the 0.0794 USDT resistance level, it could trigger further upside momentum.
Trade Idea
Entry Point: A potential entry is around the current price of 0.0766 USDT, with confirmation from bullish candlestick patterns or volume spikes in lower timeframes.
Take Profit (TP):
TP1: Set at 0.0794 USDT, the current resistance level.
TP2: Set at 0.0850 USDT if the breakout continues past the resistance.
Stop Loss (SL): Set at 0.0711 USDT, below the trendline support, to manage risk in case of a bearish reversal.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.