Are We About to Witness a Major NMRUST Drop? Key Levels to WatchYello Paradisers! Are we on the brink of a significant drop in #NMRUST? The recent price action hints that we could be heading lower, so it’s crucial to stay alert. Here’s what’s unfolding:
💎#NMRUST has been stuck in a downtrend on the major timeframe, consistently making lower lows and lower highs. Recently, however, the price reversed after setting a new lower low and moved up to form equal highs near the previous lower high. This move has sparked some interest, but don’t get too excited just yet.
💎The pair grabbed liquidity near this level, but the key observation here is that the candle didn’t close above the supply box. This signals that sellers are still dominant in the market. Currently, NMRUST is hovering around the supply box, which is between $15.53 and $16.67. This area is critical because it suggests there’s a strong probability for the price to fall from here.
💎If the downtrend resumes, the first support zone to watch is around $13.25. Should the selling pressure continue, we could see NMRUST drop further to the major support zone at $12.20, and possibly even down to $10.10.
💎However, it’s essential to keep an eye on the invalidation level. If the price reclaims the supply box and we see a strong 12-hour candle close above $18.59, this would shift the trend bias and invalidate the bearish outlook.
For now, be cautious and prepare for a possible drop. Stay disciplined and monitor these levels closely to navigate the potential moves effectively.
Trade smart, Paradisers! Stay focused, patient, and disciplined. This is the only way you will make it far in your crypto trading journey. Be a PRO
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