NEXO Price Targets and Stop LossNEXO/USDT
Entry Range: $2.13 - 2.27
Price Target 1: $2.38
Price Target 2: $2.44
Price Target 3: $2.74
Stop Loss: $2.02
Nexonomics
NEXO- Ready for BIG Candles?NEXO finally broke the BIG 2$ resistance and it seems like we found support around 1.80$, but now the 2$ level isn`t a big resistance anymore. I guess next Week we will see some BIG candles on the 1D Chart. NEXO wasn`t affectet hard by the BTC price till this week. Now NEXO is affected by BTC much more than befor.
At the moment it is hard to tell if it will break trough 2.80$ from here, it depends on the moving of BTC, if BTC continue the dip i think NEXO will fall to .80 maybe we will find a support around 1.20 if we are lucky.
If BTC goes UP toward a new high it will be possible for Nexo to Breakout and mark a new ATH before BTC. Up to 5$ if we are lucky. Around there will be the next big restistance that i see.
Wait for retest/confirmation in the support/resistance zones on smaller timeframes like 1-4H Chart.
Worst case scenario will be if we have a much bigger dip then now or Nexo will have very bad reputation from somewhere. If thats the case i think it is possible to go back to .25.
We have to remeber that the next weeks announcements from NEXO it self will affect the price but also the things that dont work or stopped working will affect the price.
So be careful and be ready to go back in or load up some more.
PS. sorry for my rusty english xD
47% profit expected on NEXO. Fundamental and technical reasons!FUNDAMENTALS
First of all if you don't know Nexo, do a quick research about them. It's a "crypto bank", offering loans for your crypto as collateral. So you don't need to sell Bitcoin if you need money for a car or bathroom renovation for example. Just deposit Bitcoin to Nexo and take a loan in fiat. When you repay your loan, you get ALL your Bitcoins back. Especially now that we are in bull run, you don't want to sell Bitcoin and miss on gains.
Another service that Nexo offers is "Earn" on your crypto and fiat. Last week they also announced improved version of this Earn feature, they call it NEXONOMICS: nexo.io
Holding NEXO tokens gives you big discount on loan interest rate and it also increases your APY (annual percentage yield) if you decide to use Earn feature. Nexo has better rates than competition and what is very nice, your funds are not locked. It's a flexible stake so you can withdraw them any time!
Price already increased a little bit after Nexonomics announcement last week, but check this (from the article I linked above): "The full scope of Nexonomics, including a variety of upcoming upgrades and functionalities, will be revealed progressively through December 2020 ."
TECHNICAL ANALYSIS
Now let's move to some technical reasons why I expect a 47% increase at minimum! As you can see Nexo is about to break out of this pink/magenta descending trendline. If you want to trade this more conservatively, wait for stronger confirmation of breakout. However I already bought NEXO because I wanted better entry price.
Furthermore, 20 and 50-Day EMA are about to form a bullish cross and this doesn't happen very often. However when it does, a big upward trend follows. Check the history yourself.
About my target. My target is Golden Pocket (0.618 Fibonacci level) which is at 0.0000194. It could go higher as well.
