The altcoin market is volatile, and $NOM is currently under heavy selling pressure. Letâs break down the local setup.
đ Current Situation:
The price is trapped in a descending channel. Indicators on higher timeframes (4H/1D) are signaling deep oversold conditions (RSI < 30). Historically, this often precedes a technical bounce.
đ Key Levels (USDT):
Support Zone: $0.0065 â $0.0075. This is a critical area. If the price holds here an
d we see a volume spike, a reversal is possible. A breakdown below this level opens the way to new lows.
Local Resistance: $0.0100. A key psychological level. Consolidating above this mark would be the first signal of a trend shift.
Bounce Target: $0.012 â $0.015. The zone where short-term speculators are likely to take profits.
đĄ Technical View:
Currently, the asset looks risky ("catching a falling knife") but interesting for bottom hunters. Moving Averages (MA) are acting as overhead resistance, confirming the bearish trend. For a long entry, it is safer to wait for confirmation or a "Double Bottom" pattern formation around $0.007.
â ïž Risk Management:
This is a high-volatility asset. Always use stop-losses when trading counter-trend.
đŹ What are your thoughts on $NOM? Are you DCAing here or waiting for lower levels?
