NKN/USDT TF W Price Dynamics and Volume Profile

27 Jun

NKNUSDT

The chart is of NKN/USDT on a weekly timeframe using Heikin Ashi candlesticks. Here's a detailed analysis of the chart:

1. **Price Levels and Volume Profile**:
- **Current Price**: NKN is trading at $0.0833.
- **Key Levels**:
- **Resistance Zone**: Around $0.81 to $0.97.
- **Support Zone**: Around $0.0055 to $0.0400.

2. **Volume by Price**:
- There is a significant volume accumulation around the $0.0833 level, indicating strong interest and potential support at this price.

3. **Price Action**:
- The price has been fluctuating within a range, with major resistance around the $0.81 level and support around the $0.0400 level.

4. **Historical High and Low**:
- Historical high around $1.4890.
- Historical low around $0.0055.

5. **Heikin Ashi Analysis**:
- The Heikin Ashi candles suggest a bearish trend, indicated by the red candles and the overall downward movement in the recent weeks.

6. **Trend Analysis**:
- The long-term trend appears to be bearish with significant resistance levels yet to be broken for any potential reversal.