NEXO - NEXO/USD - 1H - Technical analysis published on 09/08/2024 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
17%
56%
28%
My opinion
Bearish under 0.940000 USD
My targets
0.910000 USD (-1.72%)
0.850000 USD (-8.20%)
My analysis
The bearish basic trend is very strong on NEXO - NEXO/USD but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 0.940000 USD. Crossing the first support at 0.910000 USD would be a sign of a further potential price plummet. Sellers would then use the next support located at 0.850000 USD as an objective. Crossing it would then enable sellers to target 0.570000 USD. Caution, a return to above the resistance located at 0.940000 USD would be a sign of a possible consolidation phase of the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
6.8
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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 0.925880 USD. The price is lower by -0.25% since the last closing and was traded between 0.915850 USD and 0.943760 USD over the period. The price is currently at +1.10% from its lowest and -1.89% from its highest.0.915850
0.943760
0.925880
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
The Central Volumes scanner notes the presence of abnormal volumes:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of this 1H chart of NEXO - NEXO/USD indicates that the overall trend is strongly bearish. 85.71% of the signals given by moving averages are bearish. The slightly bearish signals from short-term moving averages show that the overall trend is slowing down. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 10 technical indicators on 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near support of channel
Type : Bullish
Timeframe : 1 hour
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Piercing line
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.570000 | 0.850000 | 0.910000 | 0.925880 | 0.940000 | 0.950000 | 0.980000 |
| Change (%) | -38.44% | -8.20% | -1.72% | - | +1.53% | +2.61% | +5.85% |
| Change | -0.355880 | -0.075880 | -0.015880 | - | +0.014120 | +0.024120 | +0.054120 |
| Level | Intermediate | Minor | Intermediate | - | Intermediate | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.856667 | 0.883333 | 0.906667 | 0.933333 | 0.956667 | 0.983333 | 1.006667 |
| Camarilla | 0.916250 | 0.920833 | 0.925417 | 0.930000 | 0.934583 | 0.939167 | 0.943750 |
| Woodie | 0.855000 | 0.882500 | 0.905000 | 0.932500 | 0.955000 | 0.982500 | 1.005000 |
| Fibonacci | 0.883333 | 0.902433 | 0.914233 | 0.933333 | 0.952433 | 0.964233 | 0.983333 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.750000 | 0.830000 | 0.880000 | 0.960000 | 1.010000 | 1.090000 | 1.140000 |
| Camarilla | 0.894250 | 0.906167 | 0.918083 | 0.930000 | 0.941917 | 0.953833 | 0.965750 |
| Woodie | 0.735000 | 0.822500 | 0.865000 | 0.952500 | 0.995000 | 1.082500 | 1.125000 |
| Fibonacci | 0.830000 | 0.879660 | 0.910340 | 0.960000 | 1.009660 | 1.040340 | 1.090000 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.196667 | 0.533333 | 0.766667 | 1.103333 | 1.336667 | 1.673333 | 1.906667 |
| Camarilla | 0.843250 | 0.895500 | 0.947750 | 1.000000 | 1.052250 | 1.104500 | 1.156750 |
| Woodie | 0.145000 | 0.507500 | 0.715000 | 1.077500 | 1.285000 | 1.647500 | 1.855000 |
| Fibonacci | 0.533333 | 0.751073 | 0.885593 | 1.103333 | 1.321073 | 1.455593 | 1.673333 |
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): | 42.12 | |
| MACD (12,26,9): | -0.0100 | |
| Directional Movement: | -10.000000 | |
| AROON (14): | -21.430000 | |
| DEMA (21): | 0.930000 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.940000 | |
| Elder Ray (13): | -0.005000 | |
| Super Trend (3,10): | 0.960000 | |
| Zig ZAG (10): | 0.920000 | |
| VORTEX (21): | 0.9800 | |
| Stochastique (14,3,5): | 15.18 | |
| TEMA (21): | 0.920000 | |
| Williams %R (14): | -91.24 | |
| Chande Momentum Oscillator (20): | -0.030000 | |
| Repulse (5,40,3): | -2.8100 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0300 | |
| Courbe Coppock: | 4.32 |
| MA7: | 0.960000 | |
| MA20: | 1.000000 | |
| MA50: | 1.070000 | |
| MA100: | 1.160000 | |
| MAexp7: | 0.920000 | |
| MAexp20: | 0.930000 | |
| MAexp50: | 0.940000 | |
| MAexp100: | 0.950000 | |
| Price / MA7: | -3.55% | |
| Price / MA20: | -7.41% | |
| Price / MA50: | -13.47% | |
| Price / MA100: | -20.18% | |
| Price / MAexp7: | +1.09% | |
| Price / MAexp20: | -0% | |
| Price / MAexp50: | -1.06% | |
| Price / MAexp100: | -2.11% |
Quotes :
-
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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