$NOM /USDT is trading lower in the last 24h, with a notable pullback from recent swing highs. According to Binance pricing, the token is down ~20–25% in the past day.
Price remains below short-term moving averages, reflecting bearish short-term momentum.
📊 Chart Structure
On the daily chart, NOM looks to be consolidating within a descending range or falling wedge pattern — a classical setup that often precedes a reversal if buyers break out upward.
Some chart views show potential bottoming and a slight uptick in volume, suggesting sellers are tiring out.
📈 Technical Signals
Bullish scenario: A breakout above the immediate resistance trendline (~recent daily highs) could open room for continuation to higher levels with targets near previous sideways resistance zones.
Bearish scenario: Continued trading below key moving averages and failure to break out can extend the downtrend or sideways range pressure.
📌 Summary
Short-term: Bearish to neutral — price action shows correction and resistance pressure.
Setup to watch: Break above the descending wedge/resistance line would shift momentum toward short-term bulls.
Risk note: Volume and broader market sentiment remain key for confirmation.
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