$NMR is trying to hold its recent push above 11.50, but the chart looks conflicted. Short term momentum is still leaning upward, with price trading above the 7 and 25 EMAs. That usually signals buyers are active, although the spread between these averages is narrow, which hints the move isn’t all that convincing. The 99 EMA sits almost flat around 11.16, telling you the broader trend has been drifting rather than driving. If bulls want to keep control, they need to defend the 11.70 to 11.80 area, because anything under that starts to feel like the rally was just a quick squeeze and not real strength.
What stands out is the volume. The 24-hour turnover in USDT is huge compared to NMR’s own volume, which suggests liquidity is coming from traders rotating stablecoins rather than long term holders building positions. That kind of flow often leads to sharp whipsaws. If price loses 11.20, the chart opens up toward the recent low around 10.90. On the upside, 11.90 to 12.00 is the wall. If $NMR fails there again, expect traders to call the whole move a bluff.
Overall, the setup looks like a coin trying to stage a comeback but still carrying a reputation for being choppy and easily pushed around. It can break higher, but nothing about this chart says it will be smooth. This is the kind of environment where overconfidence gets punished fast.