Currently, NIGHTUSDT is in a correction (retrace) phase after experiencing a significant increase to reach the High area in the range of $0.11999.
Price Structure: The price is forming lower highs, indicating that selling pressure is still quite dominant in the short term.
EMA (Moving Average): The price is currently below the EMA lines (likely EMA 20 and 50). As long as the price fails to break back above these lines, the trend is likely to remain bearish or consolidate downward.
Key Levels & Fibonacci Retracement
You have marked the crucial red box area:
Demand Area (Red Box): Located in the range of $0.05000 - $0.05500.
Fibonacci 0.618: The golden ratio level is at $0.05193. Historically, this level often acts as a reversal point where buyers start to re-enter the market.
Psychological Support: There is a low level at $0.01000, but it is still very far below.
Translated with DeepL.com (free version)
Price Structure: The price is forming lower highs, indicating that selling pressure is still quite dominant in the short term.
EMA (Moving Average): The price is currently below the EMA lines (likely EMA 20 and 50). As long as the price fails to break back above these lines, the trend is likely to remain bearish or consolidate downward.
Key Levels & Fibonacci Retracement
You have marked the crucial red box area:
Demand Area (Red Box): Located in the range of $0.05000 - $0.05500.
Fibonacci 0.618: The golden ratio level is at $0.05193. Historically, this level often acts as a reversal point where buyers start to re-enter the market.
Psychological Support: There is a low level at $0.01000, but it is still very far below.
Translated with DeepL.com (free version)
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.