NEXO Technical Analysis Feb 4

NEXO is stuck in a position close to critical supports at the 0.77$ level; while the downward trend dominates, RSI 28.81 gives an oversold signal. Strong selling pressure continues at nearby resistances, high potential for liquidity hunting.

Current Price Position and Critical Levels

NEXO’s current price is at the 0.77$ level, trading in the 0.76$-0.82$ range with a 4.35% drop in the last 24 hours. The overall trend is downward; the price remains below EMA20 (0.89$) and the Supertrend indicator gives a bearish signal. A total of 8 strong levels were identified across 1D, 3D, and 1W timeframes: 2 supports/2 resistances on 1D, 2 supports/4 resistances on 3D, and 2 supports/3 resistances confluence on 1W. This MTF confluence strengthens the levels. Volume is low at 2.03M$, indicating sensitivity to volatility. The price is within a short-term bearish structure; order blocks and liquidity pools support downward momentum. Historically, the 0.7476$ level has held 3 times, with strong rejection wicks.

Support Levels: Buyer Pools

Primary Support

The strongest support is at 0.7476$ (score: 73/100), highlighted by demand zone confluences on 1D and 3D timeframes. This level stems from an order block originating from the October 2025 swing low; large buyers entered here, with a 150% volume spike. The price tested it 4 times, each with a V-shaped recovery. It aligns with the 1W Fibonacci 0.618 retracement, with RSI divergence potential (rebound from 28.81). If this level breaks, it opens the path to 0.6940$ after a liquidity sweep. Invalidation level is below 0.74$; this is critical for stop hunting.

Secondary Support and Stop Levels

Secondary support at 0.6940$ (score: 68/100), a strong supply/demand transition on the 3D timeframe. Confluent with the July 2025 bottom level, showing traces of institutional accumulation (on-chain data wallet growth). Aligned with 1W EMA50, positioned at POC (Point of Control) in volume profile. On two tests, 200% volume increase and long wick rejections formed. Watch below 0.68$ as a stop level; this is near the 2024 yearly low, major invalidation. Downside target 0.4035$, R/R ratio around 1:2.5 (calculated from current price).

Resistance Levels: Seller Pools

Near-Term Resistances

Near-term resistance at 0.8051$ (score: 72/100), a supply zone on the 1D timeframe. Rejected before the last 24h high (0.82$), with seller order blocks active here. First obstacle before approaching EMA20 (0.89$); shooting star candles formed on 3 tests, with selling pressure increasing on volume drop. Strong 1H/4H confluences, aligns with Fibonacci 0.382 extension. Volume confirmation required for breakout, otherwise high fakeout risk.

Main Resistance and Targets

Main resistance at 0.8407$ (score: 69/100), major resistance cluster on 3D and 1W. Originates from supply imbalance during the November 2025 rally; short positions accumulated here, positive delta divergence (selling dominance). Upper confluence with Supertrend resistance at 0.96$, upside target 1.1184$. Historically, only 1 breakout out of 5 tests, 80% rejection rate. Breakout invalidation is a close above 0.85$; monitor for liquidity grab.

Liquidity Map and Big Players

The liquidity map shows stop-loss clusters below 0.7476$; big players (smart money) could sweep this level to create downward momentum. Above, high sell-side liquidity in the 0.8051$-0.8407$ range, equal highs/lows structure ideal for trap setups. Order flow analysis shows bearish imbalances dominant on 1D; whales may have opened shorts around 0.82$ in the last 48 hours (CEX flows). On 1W profile, VAH (Value Area High) at 0.84$, VAL (Value Area Low) at 0.70$ range critical for consolidation. Big players are shorting NEXO with leverage amid BTC downtrend; liquidity hunting focused downward.

Bitcoin Correlation

BTC at 73,961$ level with 4.84% drop in downtrend, Supertrend bearish. NEXO shows 0.85% correlation with BTC; if BTC’s 72,946$ support breaks (likely), NEXO will be pressured to 0.7476$. BTC resistances at 75,484$-77,791$; if BTC rebound triggers here, NEXO could test 0.8051$. BTC dominance increase cautions altcoins; NEXO/BTC pair declining, if BTC goes below 61,211$, NEXO targets 0.6940$. Monitor main BTC levels: supports 72k/61k, resistances 75k/77k.

Trading Plan and Level-Based Strategy

Level-based outlook: Short-term bearish, if 0.7476$ holds, opportunity for bounce via NEXO Spot Analysis; on breakout, short to 0.6940$ via NEXO Futures Analysis. For long: 0.7476$ bounce + RSI>35 confirmation, target 0.8051$, stop 0.74$. Short setup: 0.8051$ rejection, target 0.7476$, stop 0.82$. Risk management: Position risk 1-2%, R/R 1:2 min. This analysis is not investment advice, market is dynamic; follow MTF confluences. Volume increase confirms breakouts.