-Nexus is now testing the important weekly key level of support -This is the swing low last May trading history -The Bulls must defend this area otherwise the Bears will take the lead -I'm expecting NXS to consolidate inside this triangle pattern until EOY -You don't want to hold on bags without any Bullish price action -So my recommendation is to wait until the trendline resistance is broken upward
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How low can it go? currently there are 28 Millions coins locked in staking.
Currernt supply is 64 M minus 28 M locked is 36 M coins. Demand is not there yet, but considering the current price I assume that Bears cannot take control because there is no much room left to the downside.
Sure, from 1600 sats to 800 sats is a big 50% loss, but if you jump on an illiquid asset like that it must be espected and it's only a buy, buy and buy, just a retarded buy until this thing shine.
PolarHusk
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@cryptosphynxs, the 1600s area is crucial, if that level breaks. New price discovery will occur.