🚨 $NOM SHORT: PEAK REJECTION AT 0.0090? 📉 [Short]
NOM has put up an impressive 12.93% gain today, but it just faced a heavy rejection at the 0.008930 local high. The 1H chart shows a bearish engulfing candle forming, suggesting that the "exhaustion pump" is over and a correction is imminent.
📉 TRADE SETUP
Entry Zone: 0.008650 – 0.008850 (Enter on the current resistance retest)
Target 1: 0.008110 (EMA 25 Support)
Target 2: 0.007570 (Major EMA 99 Floor)
Stop Loss: 0.009150 (Safe gap above the recent 24h peak)
🔍 THE ANALYSIS
The price is currently overextended after a vertical climb from the 0.007168 low. On the 1H timeframe, the MACD histogram is starting to fade, and the RSI is likely approaching overbought territory. By placing the Stop Loss at 0.009150, we protect against sudden "wick" volatility while targeting a healthy retracement to the EMA 25. A breakdown below the 0.008506 (EMA 7) would confirm the bearish shift toward the 0.0081 level.
Will NOM hold the 0.0085 level or are we heading back to the 0.0075 support floor? Drop your thoughts below! 👇
