📉 Technical Analysis of NXPC/USDT – Dated June 1, 2025
The Nexpace ($NXPC) cryptocurrency has experienced a significant decline in the past hours, with its price dropping by 10.17% to settle at 1.3424 USDT at the time of writing this post.
🔍 Key Technical Points:
Overall Trend: Strongly bearish on larger time frames.
Nearest Support: 1.3165 USDT – Breaking this may open the door for further declines.
Current Resistance: 1.3775 USDT – Breaking this may indicate the beginning of a temporary rebound.
RSI Indicator (14): Trading in the oversold area on the 4-hour frame (21.75), which may warn of a near-term rebound.
Stochastic RSI: Shows overbought conditions on the short frame (15 minutes), indicating the likelihood of a short-term correction downward.
📊 Moving Averages (EMA):
The price is below the 50, 100, and 200 moving averages, which reinforces the bearish trend and reduces the chances of a strong rise in the near future.
⚠️ Alert for Traders: Despite some rebound indicators appearing on the short frame, the overall trend remains clearly negative. It is advised to be cautious and not make hasty decisions before confirming strong technical breakouts or improvements in momentum indicators.
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