$NEXO is currently trading close to the upper Bollinger Band at 1.2276.
This signals potential overextension, indicating a pullback could be imminent.
Support sits at 1.19, while resistance at 1.23 remains intact.
Volatility appears to be contracting, suggesting a potential consolidation phase.
Traders should consider placing a stop-loss slightly below 1.19 to mitigate risks.
Recommended action: wait for a clearer price movement signal before making a trade.
