NEXO finally broke the BIG 2$ resistance and it seems like we found support around 1.80$, but now the 2$ level isn`t a big resistance anymore. I guess next Week we will see some BIG candles on the 1D Chart. NEXO wasn`t affectet hard by the BTC price till this week. Now NEXO is affected by BTC much more than befor.
At the moment it is hard to tell if it will break trough 2.80$ from here, it depends on the moving of BTC, if BTC continue the dip i think NEXO will fall to .80 maybe we will find a support around 1.20 if we are lucky.
If BTC goes UP toward a new high it will be possible for Nexo to Breakout and mark a new ATH before BTC. Up to 5$ if we are lucky. Around there will be the next big restistance that i see.
Wait for retest/confirmation in the support/resistance zones on smaller timeframes like 1-4H Chart.
Worst case scenario will be if we have a much bigger dip then now or Nexo will have very bad reputation from somewhere. If thats the case i think it is possible to go back to .25.
We have to remeber that the next weeks announcements from NEXO it self will affect the price but also the things that dont work or stopped working will affect the price.
So be careful and be ready to go back in or load up some more.
PS. sorry for my rusty english xD
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NEXO is at the resistance line now and try to take off, we touched 3$ yesterday but it failed to breakout, maybe we will reach that target in the few next days or it could be that we need an announcement to get trough 3$ for our target of 5$. Don`t worrie too much, we are still on track!
@Dave-FX-Hunter, Thanks it looks like it will playout like my analysis!
Saityro
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Nice work!
How did you calcule this resistences/supports?
monotrix_
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@Saityro, thanks, i appriciate that! I look on high timeframes like from 4h upto 1W and usually take the last highs before an breakout (mostly when it failed to breakout) and put a support/resistence line there. If you want some more information on this or you have other question just DM me.