NEXO - NEXO/USD - 1H - Technical analysis published on 12/22/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
39%
11%
50%
My opinion
Bullish above 0.852644 USD
My targets
0.879570 USD (+1.72%)
0.954602 USD (+10.40%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on NEXO - NEXO/USD. As long as you are above the support located at 0.852644 USD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 0.879570 USD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 0.954602 USD as an objective. Crossing it would then enable buyers to target 1.083000 USD. If the support 0.852644 USD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
4.8
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NEXO - NEXO/USD rating is 0.864668 USD. On the day, this instrument lost -0.24% and was traded between 0.860059 USD and 0.874818 USD over the period. The price is currently at +0.54% from its lowest and -1.16% from its highest.0.860059
0.874818
0.864668
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of NEXO - NEXO/USD in 1H shows an overall bullish trend. 78.57% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
The probability of a further increase is slight given the direction of the technical indicators.
Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects these signals that could have an impact on the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
Bearish harami cross
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.815061 | 0.835663 | 0.852644 | 0.864668 | 0.879570 | 1.083000 | 2.022000 |
| Change (%) | -5.74% | -3.35% | -1.39% | - | +1.72% | +25.25% | +133.85% |
| Change | -0.049607 | -0.029005 | -0.012024 | - | +0.014902 | +0.218332 | +1.157332 |
| Level | Minor | Intermediate | Intermediate | - | Major | Minor | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.814437 | 0.827538 | 0.847124 | 0.860225 | 0.879811 | 0.892912 | 0.912498 |
| Camarilla | 0.857720 | 0.860716 | 0.863713 | 0.866709 | 0.869705 | 0.872702 | 0.875698 |
| Woodie | 0.817679 | 0.829159 | 0.850366 | 0.861846 | 0.883053 | 0.894533 | 0.915740 |
| Fibonacci | 0.827538 | 0.840025 | 0.847739 | 0.860225 | 0.872712 | 0.880426 | 0.892912 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.732695 | 0.770548 | 0.806664 | 0.844517 | 0.880633 | 0.918486 | 0.954602 |
| Camarilla | 0.822439 | 0.829219 | 0.836000 | 0.842780 | 0.849561 | 0.856341 | 0.863122 |
| Woodie | 0.731827 | 0.770114 | 0.805796 | 0.844083 | 0.879765 | 0.918052 | 0.953734 |
| Fibonacci | 0.770548 | 0.798804 | 0.816261 | 0.844517 | 0.872773 | 0.890230 | 0.918486 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.491700 | 0.564321 | 0.654754 | 0.727375 | 0.817808 | 0.890429 | 0.980862 |
| Camarilla | 0.700348 | 0.715295 | 0.730241 | 0.745188 | 0.760135 | 0.775081 | 0.790028 |
| Woodie | 0.500607 | 0.568774 | 0.663661 | 0.731828 | 0.826715 | 0.894882 | 0.989769 |
| Fibonacci | 0.564321 | 0.626607 | 0.665088 | 0.727375 | 0.789661 | 0.828142 | 0.890429 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 56.64 | |
| MACD (12,26,9): | 0.0030 | |
| Directional Movement: | 6.572700 | |
| AROON (14): | -42.857143 | |
| DEMA (21): | 0.870976 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.871316 | |
| Elder Ray (13): | 0.002860 | |
| Super Trend (3,10): | 0.853169 | |
| Zig ZAG (10): | 0.870726 | |
| VORTEX (21): | 1.1445 | |
| Stochastique (14,3,5): | 60.01 | |
| TEMA (21): | 0.869601 | |
| Williams %R (14): | -27.73 | |
| Chande Momentum Oscillator (20): | 0.001387 | |
| Repulse (5,40,3): | 0.6151 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0632 | |
| Courbe Coppock: | 0.12 |
| MA7: | 0.843031 | |
| MA20: | 0.846928 | |
| MA50: | 0.778775 | |
| MA100: | 0.672882 | |
| MAexp7: | 0.866898 | |
| MAexp20: | 0.866403 | |
| MAexp50: | 0.858563 | |
| MAexp100: | 0.850363 | |
| Price / MA7: | +2.57% | |
| Price / MA20: | +2.09% | |
| Price / MA50: | +11.03% | |
| Price / MA100: | +28.50% | |
| Price / MAexp7: | -0.26% | |
| Price / MAexp20: | -0.20% | |
| Price / MAexp50: | +0.71% | |
| Price / MAexp100: | +1.68% |
Quotes :
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Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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