My charts are simple, to the point. I hate to see a lot of trendlines, indicators bla bla as I strongly believe trading doesn't require all those gibberish analysis that really confuses instead of simply explains things. Support and resistance is all i need to make 80% of my analysis, I put up indicators when I just want to get confirmation of my hypothesis
So as...
Hi dear friends, hope you are well and welcome to the new trade setup of Nexo token with US Dollar pair.
On a 4-hr time frame, NEXO has formed a bullish Gartley move.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (1.010).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. NEXOUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (1.010).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. NEXOUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
Nexo (NEXOUSD) has been trading within a Channel Down since the May 12 2021 High. The last Lower Low was priced on on June 30 and since then the price has rallied almost +120%, breaking above both the 1D MA50 (blue trend-line) and the 1D MA100 (green trend-line) with the two about to form a Bullish Cross.
The same 1D MA50/100 Bullish Cross was formed during the...
Perhaps we are seeing the formation of a cup and handle pattern. if the pattern continues, the uptrend will continue. To confirm, the $1.1 level must be broken.
The NEXO token has been consolidating into the ascending triangle pattern for the past several months.
The NEXO token is making inside the candle in the weekly price chart.
What will be next; breakout or breakdown?
As per the Fibonacci Retracement, bulls need to keep NAXO price above $2.5 (which is 0.5-level Fibonacci); below this level, buyers will continue...
With Bitcoin recovering, Nexo wants to escape the parallel channel.
See the chart for the trade idea and the horizontal lines as resistance levels.
Keep risk managament in mind.
This token can have good growth with more Cardano activity, but it has grown well right now, and with the latest market correction, it has dropped well and can be bought, and it is good for holding a token.
In the new year, when more DeFi projects are known, they will probably have a better approach to lending projects like Nexus.
this token on binance...
here is a fairly solid Nexo 1 week chart with resistance and support levels laid out. On the dip look for that lowest green box if entire market tanks (same with .41 level n below for crypto.com/CRO coin) but if not that first dip or buy box is not a bad place to accumulate with a backup to cost average in if she or whatever alt your chasing goes lower.
short term...
BINANCE
