The team revealed a market maker sell-off, prompting a treasury buyback.
A bullish engulfing candle suggests a potential reversal toward $0.19.
NIL, native to the decentralized storage network project Nillion, suffered a brutal 48% crash. However, it seems to be recovering from that decline.
The sell-off broke through multiple support zones, dragging the token to an all-time low yesterday.
Since its launch in March, Nillion’s price has trended downward. As it stands, Sellers remain in control as fear-driven exits continue to pressure the altcoin.
At the time of writing, NIL’s price is hovering around $0.11, with charts showing no immediate signs of stabilization.
Will NIL recover, or is a deeper decline on the horizon? Let’s look at the charts.
Nillion Token Plummets
On the 4-hour chart, NIL’s Money Flow Index (MFI) reflects severe capital outflow, currently at an extremely oversold level as selling intensifies.
This dramatic MFI collapse highlights how aggressively liquidity is leaving the market, consistent with panic-driven exits.
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Similarly, the Moving Average Convergence Divergence (MACD) paints a bearish picture.
The 26 EMA (orange) has crossed above the 12 EMA (blue), accelerating downside momentum as the histogram prints deeper red bars.
This crossover confirms a strong bearish shift, suggesting sellers remain firmly in control.
If this momentum continues, Nillion’s price could revisit its all-time low at $0.084, and further selling pressure could push the price into lower areas.
A major catalyst behind this dump was a rumor that the Nillion core team sold their tokens. The speculation triggered fear among holders, prompting a wave of hurried selling.
However, the Nillion team quickly debunked the claim, clarifying that they have not sold a single token.
“Regarding the NIL price: No team or treasury tokens have moved. To confirm this yourself, check on-chain: https://mintscan.io/nillion/address.” The Nillion offical X handle revealed.
After that, it assured the community that it would continue to operate without disruption.
“We want to assure our users, community, and partners that all Nillion wallets remain fully secure. The network remains fully operational and will continue as usual without disruption. We are investigating this external variable and will report findings shortly,” the project added.
Nillion Spots Guilty Party
Interestingly, just hours after denying any involvement in the sell-off, the Nillion team announced that it had identified the cause. According to the project, an unnamed market maker sold NIL tokens without authorization.
“Our entire team was confused until we realized what happened: a market maker sold NIL tokens without legal authorization from the Nillion Association, then refused to respond to any team communications during the flash sell and the hours that followed,” the project stated.
To address the situation, Nillion said it will buy back the tokens using funds from its treasury, aiming to stabilize the market and reassure its community.
Is NIL Price Recovery Imminent?
Following the development, the 4-hour chart shows that Nillion’s price has broken out of the downtrend.
As seen below, a bullish engulfing candle has flashed. At the same time, the Relative Strength Index (RSI) has bounced from the oversold region.
With NIL bouncing from the critical $0.11 support, it could likely erase the correction it recently experienced.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
