Technical analysis by ProfitsNinja about Symbol NKN: Sell recommendation (12/10/2024)

NKNUSDT on the 1-hour timeframe exhibited a strong bearish momentum, achieving 125% profit at 5x leverage. The short trade setup, captured using the Risological Swing Trading Indicator, has successfully hit TP1 to TP3, with TP4 likely to be achieved shortly.Key Levels:TP1: 0.12615 ✅TP2: 0.11428 ✅TP3: 0.10241 ✅TP4: 0.09508 🔄Technical Analysis:The trade commenced at 0.13348 with a stop-loss set at 0.13942, ensuring effective risk management. The price has consistently moved below the Risological trend line, affirming the downtrend. The sharp breakdown below key support levels accelerated the move towards the profit targets. The setup reflects the accuracy and power of the Risological Swing Trading Indicator in identifying high-reward, low-risk opportunities.Namaste!