$NOM is trading around 0.00881 after a sharp daily push, but the structure is not as clean as the headline gain suggests. Price is sitting above the 7 EMA at 0.00777, which shows short term momentum is still intact, yet it remains below the 25 EMA near 0.00870 on some frames, hinting that this move may be more reactive than trend driven. The rejection near the 0.00897 high shows sellers are active early, and that matters. If buyers were fully in control, price would not hesitate this close to resistance. The market is excited, but not convinced.
Volume adds another layer of doubt. While raw volume is high, the moving averages of volume are flat, suggesting participation is not accelerating alongside price. That often shows up when late buyers chase a move rather than build it. Support sits around 0.00766 and then closer to 0.00736. A drop into that zone would not break the structure, but it would expose how fragile this rally really is. On the upside, anything above 0.009 without a clear volume expansion risks becoming a bull trap.
In short, $NOM looks strong on the surface but thin underneath. Momentum traders have the edge for now, but swing traders should be cautious. This is the kind of chart where patience pays more than excitement. Either it proves strength with acceptance above resistance, or it fades just as quickly as it moved up. Right now, both outcomes are very much on the table.
