$NEXO /USDT Short Trade Setup

$NEXO is currently trading at $1.199, down by -2.91% in the last 24 hours, with low trading volume and clear signs of rejection from the $1.24-$1.25 resistance zone. The 24h low sits at $1.192, just slightly below the current price, indicating that bears are pressuring the price at key intraday levels. With momentum fading and no strong recovery signs, a short opportunity is developing below key resistance.

This setup is ideal for traders looking to capitalize on a potential move toward deeper support zones as NEXO weakens further below the psychological $1.20 handle.

Entry:

$1.199 (current price)

Stop Loss:

$1.230 — above the recent rejection wick and short-term resistance zone

Take Profit Targets:

TP1: $1.150 — local support level tested last week

TP2: $1.100 — key structural support on the 4H chart

TP3: $1.050 — major horizontal level and liquidity pocket from past consolidation

Risk-Reward Overview:

TP1: ~1.6x

TP2: ~3x

TP3: ~4.7x

Technical Insight:

NEXO has formed lower highs on the 1H and 4H charts, and every bounce has been met with decreasing volume, signaling weak bullish interest. The rejection from $1.244 and failure to maintain above $1.21 confirms resistance strength. A sustained breakdown below $1.190 may trigger a cascade effect as bulls lose control and sellers dominate the momentum.

Trade Management Tips:

Move stop loss to entry once TP1 is reached

Scale out at each target level to lock in profits

Avoid re-entering unless NEXO regains strength above $1.23 with volume confirmation

This is a momentum-based short setup with a clean invalidation and defined downside targets. Monitor closely for a breakdown candle below $1.190 with volume to confirm entry strength.

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