$NEXO has seen a notable surge of 7.437% in the last 24 hours, reaching a high of 1.211.
Currently, the price is testing the upper Bollinger Band at 1.2159, indicating potential overextension.
If the price fails to break above this level, a reversal could occur.
Support is strong at 1.131; consider setting a stop-loss just below this level for risk management.
Volatility appears to be contracting, suggesting potential for a breakout either way.
Recommended action: wait for confirmation of a breakout or reversal before entering a trade.
