$NIL Bearish Rejection – Breakdown Confirmed
NIL rejected firmly at the 0.05376 level after a strong rally and is now sliding toward 0.05149 with momentum shifting decisively to the downside. The asset has lost its bullish momentum, and sellers are stepping back in.
🔻 Market Bias: SHORT
🔹 Entry Zone: 0.05120 – 0.05160
🔹 Stop Loss: 0.05300
🎯 Profit Targets:
• TP1: 0.05000
• TP2: 0.04900
• TP3: 0.04750
Leverage: 10x – 15x
Technical Outlook:
· RSI(6) at 68.17 – Dropping from overbought levels, indicating momentum shift to the downside with more room to fall.
· MACD: Green histogram is contracting, signaling a potential bearish crossover ahead.
· Structure: Failure to hold 0.05250 followed by a rejection candle with lower highs forming.
· Volume: Selling volume is increasing on the pullback, confirming bearish control.
The rally from 0.04611 has likely topped at 0.05376. If price breaks below 0.05100, acceleration toward 0.05000 and deeper levels is likely. Do not try to catch this falling knife. 📉