$NGL is currently showing strong positive momentum, especially after confirming support around $0.072. This is a positive sign for further growth, with a potential target price of $0.19 in the short term. Investors may see a great opportunity if the coin continues to maintain its upward momentum, especially if macro factors continue to support the growth trend.
However, as with all crypto markets, corrections are inevitable. If the market experiences a sharp decline, a key support level would be $0.055. This is a price level that, if defended, could help $NGL maintain its recovery momentum and avoid a deeper decline.
An important factor to note is the correlation between $NGL and Bitcoin ($BTC). A surge in $BTC could have a big impact on the next move of $NGL. If $BTC continues to maintain a strong trend, it is likely that $NGL will follow the momentum and record a significant increase. Conversely, if BTC corrects sharply, $NGL may also be negatively affected.
Therefore, monitoring the volatility of BTC is extremely important in the investment strategy of $NGL. Important entry opportunities at strategic price levels of BTC will be the decisive factor for investors to grasp the trend and optimize profits from $NGL.
In short, $NGL is on a strong growth path, but paying attention to the supports and relationships with $BTC is indispensable to make accurate investment decisions.