Here is your professional technical analysis post for Binance Square:
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$NEXO USDT BEARISH REVERSAL – SELLERS TAKING BACK CONTROL ⚠️
NEXO/USDT is currently trading at $1.208 after failing to hold above $1.233 and breaking below key moving averages. The price is now under the 25 MA ($1.217) and 99 MA ($1.211), suggesting increased bearish pressure in the short-term.
🔰 TRADE SETUP (SHORT):
Entry Zone: 1.208 – 1.212
Take Profits:
🎯 TP1: 1.200
🎯 TP2: 1.185
Stop Loss: 1.220
📊 MARKET OUTLOOK:
With sellers dominating below the 25 MA and price action forming lower highs and lower lows, further downside movement is expected if momentum remains weak.
⚠️ Risk Management:
Use tight SL above recent resistance and secure partials at TP1 to lock in profits safely.
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buy and trade here on $NEXO
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