- NFP exiting a long-term downward channel could mean the market has started a reverse trend.
- Support is seen at $0.0972, and the move will be considered bullish only if $0.1085 is broken.
- Even though NFP is up recently, the lack of trading volume is a warning sign about the strength of the rise.
NFP (NFPrompt) is breaking out of a multi-month downtrend and is about to test a key technical level. According to the daily chart, NFP has just broken through its downward channel, which had kept price movements in check since late 2024.
With the price at $0.1041—up 5.4% over the last day—analysts are carefully watching for more evidence of a long-term bullish trend. Price has made some promising early moves, although a real reversal will need more evidence at the current resistance levels.
Technical Outlook Points to Shift in Momentum
For the last few months, the chart shows NFP moving in a one-directional downtrend with clear signs of a developing falling wedge. Still, that pattern seems to be losing strength. In May, NFP moved higher than the upper line of the descending wedge and has stayed above it since then.
Currently, $0.0972 is the main support area for the asset, and $0.1085 appears as a new hurdle for prices to overcome. A daily close above this resistance level could serve as a strong validation of trend reversal, paving the way for an extended rally. Reaching the $0.14 area seems possible if this breakout succeeds, suggesting a 30% jump from now.
NFP Eyes Rebound, But Weak Volume Clouds Rally Strength
Volume trends will play an important role as the sessions continue. In the current market, the move up doesn’t show strong volume spikes, thus making the rally’s strength questionable. There is a likelihood that selling activity will arise at these resistance points: $0.1085 and $0.115 in the near term.
Volume data is going to matter a lot in coming sessions. In the current market, the move up doesn’t show strong volume spikes, thus making the rally’s strength questionable. There is a likelihood that selling activity will arise at these resistance points: $0.1085 and $0.115 in the near term.
After a severe downtrend, NFP’s chart suggests early signs of a bullish comeback. A retracement of the downtrend could happen if the token manages to overcome resistance and stays in gain.
