Following the previous idea on NXT/BTC, price went down to 361.8% Fibonacci at 1480 shatoshis, that has been rejected cleanly. The previous prediction was quite precise, and after rejecting the support NXT/BTC broke above the downtrend trendline suggesting the the trend might be about to reverse.
At this point NXT is facing several resistance levels that it has to overcome in order to start a longer term uptrend. Fist strong resistance is 2000 satoshis area, break and close above it should push price further up to a 50% Fibs at 2600 satoshis.
On the other hand, price could still continue to consolidate between 2k and 1.5k satoshis and potentially produce spike below the current support before moving higher. All-in-all the short term upside potential is there and the reaction to the 2k satoshis resistance should show the strength of the NXT against the Bitcoin.
Thanks for this. I believe NXT VTC IOTA EMC2 are doing very well against bitcoin because these coins always take the lead in a bull or bear market and they have already bottomed from this correction and are getting ready for the next bull run. that is why they are doing so well against bitcoin. Bitcoin eth and ltc will follow the suit soon after they bottom also. Eth should not go below 350.