$NEXO /USDT Signal: Potential Bearish Continuation

$NEXO /USDT has been experiencing a downward trend on the 4-hour chart. The price is currently trading at $1.250, down by 10.97% in the past 24 hours. The Relative Strength Index (RSI) is at 24.549, indicating oversold conditions.

Entry:

Consider a short position at the current price of $1.250.

Stop Loss:

Place your stop loss at $1.388 to protect against potential upside reversals.

Take Profit Targets:

* Target 1: $1.229

* Target 2: $1.200

* Target 3: $1.171

Resistance and Support Levels:

* Resistance: $1.388

* Support: $1.229

Caution:

While the current price action suggests a potential bearish continuation, it's crucial to monitor the market closely for any signs of stabilization or potential bullish reversals. The cryptocurrency market is highly volatile, and prices can change rapidly. Always exercise caution and manage your risk appropriately.

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#NEXO #USDT #CryptoTrading #TechnicalAnalysis #Binance