NuCypher work-lock released today, resulting in quick sell-off.
If and only if 0.54 does not hold, then 0.44 is the next support level, followed by 0.32 which is less likely but also possible.
Previous idea's triangle seems to have been broken down, though we remain in the downward channel. Idea is linked below. If NuCypher ever decides to be bullish again, the resistances previous posted are still valid.
I think you managed to make the most confusing chart for NU yet.
rbower
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I guess we can just split the difference at 0.36
Crypto_Krieger
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There was no worklock sell off as the released tokens are staggered, because nearly all stakers are yet to complete the 180 day staking period; some haven’t even started. So there was virtually no increase in circulating supply as of yet and no sell off of released tokens. Most will restake anyway or hold for new ATH. There was an official post about this on NU’s discord a few days ago explaining this in full from the founders.
Volumes aren’t presently consistent enough to break the resistance although it’s just a matter of time before volumes plough in and price goes to ATH.
kakola
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@Crypto_Krieger, Yessir. The CoinList staking intervals are there, but thankfully the prior worklock is staggered.
kakola
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Oh it should also be noted that the vertical orange lines are the 35-day worklock period intervals.