Current market situation
NMR is currently showing signs of consolidation on the daily chart, sitting on significant horizontal support between $12.815 and $10.685. This area has previously served as an important level, preventing further declines.
Technical features of the schedule
NMR price has been in a downtrend, but recent consolidation at this key support level suggests possible buying interest. The descending trendline acting as resistance suggests that a break above it could signal a change in market momentum.
Possible price movement
If NMR holds above the current support zone, a rebound to $16.650 is possible, where resistance may emerge. Otherwise, if the price fails to hold support, it may lead to further declines, and lower support levels will become important to watch for possible price stabilization.
Summary and Prospects
NMR is at a key support level and its ability to hold or break this support will likely determine its short-term price direction. The coming trading sessions will be crucial in determining whether a bullish reversal or further decline occurs.
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