NEXO Technical Analysis in Daily Timeframe

Jul 29

Hello everyone, I’m Cryptorphic.
For the past seven years, I’ve been sharing insightful charts and analysis.

Follow me for:
~ Unbiased analyses on trending altcoins.
~ Identifying altcoins with 10x-50x potential.
~ Futures trade setups.
~ Daily updates on Bitcoin and Ethereum.
~ High time frame (HTF) market bottom and top calls.
~ Short-term market movements.
~ Charts supported by critical fundamentals.

Now, let’s dive into this chart analysis:

NEXO is trailing in the middle of the support and resistance trendlines. It is interesting to see how the 50 EMA disallows the price from moving further, while the support at $1.170 holds it.

A close above the 50 EMA will push the price for a short-term gain of 20%-25%. If the support weakens, consider entering NEXO at around $1.065.

Key levels:

- Primary Support: $1.170
- Lower Support: $1.065
- Primary Resistance: 50 EMA ($1.22)
- Short-term Target: $1.4 to $1.5

DYOR, NFA.

Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!

Thank you!

#PEACE