Watch these Fibonacci's Retracements! 👀

Nio is doing amazingly well these days, but in the past two days we see a congestion, and now NIO finally hit the 38.2% retracement.

Nio must not trade below this level, or it’ll hit the 61.8% next, around 45.50. But if the retracement holds the price, then the 50 is the next stop!

snapshot

We have a strong momentum here, and for now we must focus on the 38.2% retracement. If NIO corrects, the 20ma in the 4h chart is also a support.

All of this tells me that NIO is going to hit the 50s,even if it drops, as we have a lot of supports around.

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See you soon,
Melissa.
Fibonacci RetracementTechnical IndicatorsNIORelative Strength Index (RSI)Support and ResistanceTrend Analysis

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