NEXO token - Great company, good token to invest, but not now
Not complaining about Nexo
I'm using their service since 2019 and loving what they provide !
They will probably become leader in the crypto borrowing niche in a very near futur.
They did well through the liquidity crisis of this bear market, so I believe in them.
About investing in this token, here is my opinion, for futur reference:
- short term : impossible to predict what is going to happen in the next weeks, but I would say altcoin are still at risk because we are not in a bull run, and 2023 will most probably a long and boring accumulation year, with that crappy recession on it's way. I would keep a bearish biais on the very short term, but I care more about longer time horizon
- medium term : I think we will meet good long entry point later in 2023. Just look at the montly graph in both BTC and USD pair, it just look that it needs to deflate more. Then enter sideways for many weeks, that's when I'll look for big bag purchase ! I already did a very nice bought of NEXO token at 0.12 in the previous bullrun and had a nice 15x on my trade. So I'll patiently wait for a similar market structure to unfold before entering !
- long term : I'm not good on price prediction, but if everything goes well, the NEXO token should at least make new ATH and maybe reach some 10$+ price range ! Let's see !
I'm using their service since 2019 and loving what they provide !
They will probably become leader in the crypto borrowing niche in a very near futur.
They did well through the liquidity crisis of this bear market, so I believe in them.
About investing in this token, here is my opinion, for futur reference:
- short term : impossible to predict what is going to happen in the next weeks, but I would say altcoin are still at risk because we are not in a bull run, and 2023 will most probably a long and boring accumulation year, with that crappy recession on it's way. I would keep a bearish biais on the very short term, but I care more about longer time horizon
- medium term : I think we will meet good long entry point later in 2023. Just look at the montly graph in both BTC and USD pair, it just look that it needs to deflate more. Then enter sideways for many weeks, that's when I'll look for big bag purchase ! I already did a very nice bought of NEXO token at 0.12 in the previous bullrun and had a nice 15x on my trade. So I'll patiently wait for a similar market structure to unfold before entering !
- long term : I'm not good on price prediction, but if everything goes well, the NEXO token should at least make new ATH and maybe reach some 10$+ price range ! Let's see !
Comment:
my entry during the last cycle is in the small yellow circle. It was definitely one my bast swing trade. I wish I will find a similar market structure later in 2023
Comment:
USD pair is only -86%, it can go lower than that, altcoins are risky during bear market. It can fall now, or on 6 months, but sure it can go lower !
In any case, I will not buy this token before we have a long sideway accumulation to confirm market stabilisation
In any case, I will not buy this token before we have a long sideway accumulation to confirm market stabilisation
Comment:
NEXO/USD at critical point... Triangle about to break anytime...
Downside target is still around 0.26 USD
I would prefer a break to the upside, but for the moment there is no confirmation !
Downside target is still around 0.26 USD
I would prefer a break to the upside, but for the moment there is no confirmation !