NEXO - NEXO/USD - 1H - Technical analysis published on 02/29/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 1.37 USD
My targets
2.02 USD (+36.49%)
2.55 USD (+72.30%)
My analysis
NEXO - NEXO/USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 1.37 USD. The next resistance located at 2.02 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 2.55 USD. After this resistance, buyers could then target 3.44 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.8
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Additional analysis
Quotes
The NEXO - NEXO/USD price is 1.48 USD. The price has increased by +12.98% since the last closing and was between 1.31 USD and 1.50 USD. This implies that the price is at +12.98% from its lowest and at -1.33% from its highest.1.31
1.50
1.48
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
The Central Volumes scanner detects abnormal volumes on the asset:
Abnormal volumes
Timeframe : 5 days
Technical
Technical analysis of NEXO - NEXO/USD in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Long white line
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.20 | 1.31 | 1.34 | 1.48 | 2.02 | 2.55 | 3.44 |
| Change (%) | -18.92% | -11.49% | -9.46% | - | +36.49% | +72.30% | +132.43% |
| Change | -0.28 | -0.17 | -0.14 | - | +0.54 | +1.07 | +1.96 |
| Level | Minor | Minor | Minor | - | Minor | Minor | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.13 | 1.17 | 1.24 | 1.28 | 1.35 | 1.39 | 1.46 |
| Camarilla | 1.28 | 1.29 | 1.30 | 1.31 | 1.32 | 1.33 | 1.34 |
| Woodie | 1.15 | 1.18 | 1.26 | 1.29 | 1.37 | 1.40 | 1.48 |
| Fibonacci | 1.17 | 1.21 | 1.24 | 1.28 | 1.32 | 1.35 | 1.39 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.92 | 1.00 | 1.07 | 1.15 | 1.22 | 1.30 | 1.37 |
| Camarilla | 1.11 | 1.12 | 1.14 | 1.15 | 1.16 | 1.18 | 1.19 |
| Woodie | 0.93 | 1.00 | 1.08 | 1.15 | 1.23 | 1.30 | 1.38 |
| Fibonacci | 1.00 | 1.05 | 1.09 | 1.15 | 1.20 | 1.24 | 1.30 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.55 | 0.66 | 0.77 | 0.88 | 0.99 | 1.10 | 1.21 |
| Camarilla | 0.82 | 0.84 | 0.86 | 0.88 | 0.90 | 0.92 | 0.94 |
| Woodie | 0.55 | 0.66 | 0.77 | 0.88 | 0.99 | 1.10 | 1.21 |
| Fibonacci | 0.66 | 0.74 | 0.80 | 0.88 | 0.96 | 1.02 | 1.10 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 78.95 | |
| MACD (12,26,9): | 0.0400 | |
| Directional Movement: | 39.38 | |
| AROON (14): | 85.72 | |
| DEMA (21): | 1.41 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.37 | |
| Elder Ray (13): | 0.07 | |
| Super Trend (3,10): | 1.35 | |
| Zig ZAG (10): | 1.45 | |
| VORTEX (21): | 1.3600 | |
| Stochastique (14,3,5): | 81.33 | |
| TEMA (21): | 1.43 | |
| Williams %R (14): | -25.83 | |
| Chande Momentum Oscillator (20): | 0.13 | |
| Repulse (5,40,3): | 3.8600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.3700 | |
| Courbe Coppock: | 14.56 |
| MA7: | 1.23 | |
| MA20: | 1.13 | |
| MA50: | 0.98 | |
| MA100: | 0.91 | |
| MAexp7: | 1.41 | |
| MAexp20: | 1.35 | |
| MAexp50: | 1.30 | |
| MAexp100: | 1.25 | |
| Price / MA7: | +20.33% | |
| Price / MA20: | +30.97% | |
| Price / MA50: | +51.02% | |
| Price / MA100: | +62.64% | |
| Price / MAexp7: | +4.96% | |
| Price / MAexp20: | +9.63% | |
| Price / MAexp50: | +13.85% | |
| Price / MAexp100: | +18.40% |
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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