NEXO Technical Analysis in Daily TimeframeHello everyone, I’m Cryptorphic.
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Now, let’s dive into this chart analysis:
NEXO is trailing in the middle of the support and resistance trendlines. It is interesting to see how the 50 EMA disallows the price from moving further, while the support at $1.170 holds it.
A close above the 50 EMA will push the price for a short-term gain of 20%-25%. If the support weakens, consider entering NEXO at around $1.065.
Key levels:
- Primary Support: $1.170
- Lower Support: $1.065
- Primary Resistance: 50 EMA ($1.22)
- Short-term Target: $1.4 to $1.5
DYOR, NFA.
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