Analysis of NXPC/USDT – Is the Bearish momentum strengthening?
On the daily chart, NXPC is trading in a pressure zone - closing at 1.0777 (−0.24%). The technical picture speaks for itself:
Parabolic SAR — above the price, the downward momentum is maintained. Ichimoku Cloud — the price is below the cloud, key resistance: 1.1113 – 1.1399.MA(7), MA(25), MA(99) — all above the current price. Sentiment — clearly bearish.
Key support is at 0.8655. If the pressure does not decrease, there is a high likelihood of testing this zone.
Reversal scenario? A breakout above MA(7) and the Ichimoku cloud will open the way for a neutral/bullish setup. For now, however, the priority is with the "bears."
We are monitoring the 1.1044 zone — this is the key to a change in direction!
