$NKN is sliding into a major demand zone after a 15% decline from recent highs.

Trading Plan Long $NKN

Entry: 0.00564 – 0.00566

SL: 0.00560

TP1: 0.00578

TP2: 0.00595

TP3: 0.00625

The asset has dropped from 0.00672 to 0.00565 — a 15% decline. The RSI reading at 14 suggests the asset is oversold. Volume is moderate but beginning to taper off, suggesting that sellers are losing conviction. The 4-hour chart shows a sharp decline with high volume, which often signals capitulation. This region has acted as support in the past, and historical support tends to hold until there's a significant shift in market structure. If buyers defend this level, we could see a move toward 0.00578 and then 0.00595. The SL is placed tight at 0.00560, while TP3 at 0.00625 targets a 10% upside from entry.

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