$NEXO /USDT Analysis and Trade Setup💥

Current Price: 1.351 USDT

24h High: 1.415 USDT

24h Low: 1.303 USDT

24h Volume (NEXO): 1.41M

24h Volume (USDT): 1.91M

Overview:

$NEXO /USDT is showing a bullish trend with strong performance over the past year (+54.20%). Despite recent pullbacks in the last 7 and 30 days, it has gained momentum over the past 90 and 180 days, indicating a potential long-term upward trajectory.

Price Action and Support/Resistance Levels:

Key Support Level: 1.30 USDT (24h Low)

Key Resistance Level: 1.415 USDT (24h High)

Trading Opportunity:

Entry Point: At market price (~1.351 USDT), with a confirmation from price action (e.g., a break above 1.36 USDT)

Stop Loss: 1.30 USDT (protects against a bearish reversal)

Take Profit Levels:

TP1: 1.38 USDT (near the 24h high)

TP2: 1.45 USDT

TP3: 1.50 USDT (next resistance zone)

Technical Indicators:

RSI (14): Neutral to slightly bullish, suggesting there’s room for upward movement.

MACD: The MACD is showing a bullish crossover, reinforcing the bullish sentiment.

Risk/Reward:

With a well-placed stop loss around 1.30 USDT, this trade has an attractive risk/reward ratio, especially with TP1, TP2, and TP3 providing solid profit targets.

Note: Always practice risk management, and ensure you follow your plan when executing trades.

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