Nexo showing a very professional Accumulation phase Hi Everyone;
today we have one of the Interesting coin.. NEXO
My TA showing almost 23 Risk to rewards, but looking to the accumulation phase I expect more than that, let's give it a chance.
Nexosignals
NEXOUSD is well on its way to the 1D MA200 ($1.4000)Nexo (NEXOUSD) has been trading within a Channel Down since the May 12 2021 High. The last Lower Low was priced on on June 30 and since then the price has rallied almost +120%, breaking above both the 1D MA50 (blue trend-line) and the 1D MA100 (green trend-line) with the two about to form a Bullish Cross.
The same 1D MA50/100 Bullish Cross was formed during the previous rebound after a Lower Low on August 28 2021 but the difference is that Nexo was already pulling-back to the 0.618 Fibonacci retracement level, while today it broke above the previous High, hence indicating that the June rally is being extended.
As a result, the next target is the 1D MA200 (orange trend-line) and on the more medium-term, just above the -0.5 Fib extension.
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