NEXO: rally or correction? key levels to watch for today

NEXO. Who’s hunting yields instead of meme pumps right now? Lending tokens are back on the radar as the market rotates into higher‑yield plays, and after that nasty flush NEXO already squeezed hard off the lows. According to market chatter, centralized earn platforms are seeing renewed interest, so this move is not happening in a vacuum.

On the 4H chart price is parked right in a fat supply zone around 0.84‑0.87 where we last distributed before the dump. RSI just cooled from overbought and is rolling over, while VPVR shows the main volume magnet lower, near 0.79‑0.80. So short term I lean to a corrective move down before any serious breakout. I might be wrong, but fading euphoric bounces into old supply has paid my bills more than once.

My base case: rejection from this zone and a pullback toward 0.80, maybe 0.76, where I’ll watch for a fresh long setup ✅. Aggressive traders can look for shorts here with invalidation above 0.88, targeting that 0.80 cluster. If bulls punch through 0.87 on strong volume, the door opens to 0.93 then the psychological 1.00, but a clean break and hold below 0.80 would be a warning to step aside ⚠️.