Technical analysis by Motivation_Voice about Symbol NKN: Buy recommendation (6/27/2024)

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.