On the $$NIL 4-hour chart, two long upper wicks appeared. The level 0.0480 looks like a “welded” ceiling. Of the $45.6M trading volume, at least 30% is active sell orders stacked up. From a technical perspective, the MACD has just formed a dead cross above the zero line, and the RSI has fallen from 84 to 68—this is a typical momentum exhaustion signal in an overbought zone. Don’t listen to people shouting “break to new highs.” The 24h range has already run from 0.0355 to 0.0480, consuming 40% of the upside. Now at 0.0447, that’s the main force distributing.

I guess you haven’t closed your position yet, so listen: breaking below 0.0415 (the 50% pullback level of the 24h gain) is the first straw. More importantly, 0.0388—this is support from the prior small consolidation. Once it breaks, 0.0350 is the bears’ paradise. In terms of execution: if you’re flat, place a small short probe with limit orders in the 0.0430–0.0445 range, set your stop-loss at 0.0490 (the prior high breakout confirmation level), and keep position sizing within 5%. Long positions, don’t touch—unless you’re betting it can hold above 0.0480; the odds are even lower than winning 10U in a Gate lottery.
I’m specifically watching weak coins for entries. If you don’t believe me, check my past statements—yesterday I warned that a certain project’s daily chart was topped with bearish divergence, and it then dropped 18% directly. If you find this useful, tap like and double-click. I’ll keep watching the market and send signals.