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Cryptoknowmics 2022-04-29 16:30:51

NEXO Technical Analysis: Go Ahead To A New Historical High

Even in difficult times, you can find truly strong ones- great words that are suitable for both people and cryptocurrency projects. Given the depression of cryptocurrency investors, there are still projects that have survived the correction of November 2021 and are waiting for an opportunity to form a new growth wave. One such cryptocurrency is NEXO. In the weekly timeframe, we see that the price has actually been moving in global consolidation since May 2021. Each time the range of trade decreases, indicating the approach of a strong impulse. Now the NEXO price is moving towards the upper trend line of the triangle. Looking at how the weekly candle from 25 April is formed, May should be in favour of buyers. The main target is $3.5. If in this mark we see activation of buyers and sticking of the price – we will expect breakdown of a global triangle and updating of a historical high. In this case, the next important target for buyers is at $4.91. Technical Analysis Of NEXO On The Daily Timeframe On the day of 29 April, when the BTC price is steadily falling and dragging the entire market, the NEXO cryptocurrency showed a 20% price growth. During the day, buyers were able to level the weeks of efforts of sellers and move as far as possible to the test of $3.5. Given the beginning of the acceleration of the NEXO cryptocurrency and the increase in trad...

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