On the daily charts, the NGL token price has been moving within a narrow range near the $2 mark. Despite market volatility, the token has maintained its bullish position. However, there are efforts by buyers to break free and surpass the $2 mark.

Although there have been range-bound movements and consolidation in the price action, technical indicators are suggesting a potential upward movement for the token, with a likely crossing of the $2.50 mark in the near future. As long as the price remains above $1.60, the token is expected to continue its positive momentum. The daily trading volume has decreased by 23.67% to $2.94 million, indicating a decrease in investor interest.

From a technical perspective, the current trend is neutral, with the token trading above key moving averages, indicating a bullish sentiment. However, the market has shown uncertainty due to a lack of clear direction between bullish and bearish forces.

In terms of Fibonacci levels, the NGL price has held above the 38.2% zone and is trading around the midline, indicating neutrality. The RSI curve has entered the overbought region, showing a negative crossover.

The total supply of the NGL token is 990 million, with a volume-to-market cap ratio of 0.00177, ranking it 1961 in the global crypto market.

Summary

The NGL token price continues to fluctuate near the $2 mark, exhibiting range-bound movements. The neutral trend reflects multiple rejections at the $2 mark, leading to a period of uncertainty and indecision among investors.

Technical Levels

Support Levels: $1.50 and $1

Resistance Levels: $2 and $2.30

Disclaimer

The opinions expressed in this article are for informational purposes only and do not constitute financial or investment advice. It is important to conduct thorough research and analysis before making any financial decisions.