NEXO Technical Analysis Feb 28

NEXO price is in a critical position at 0.83$; trapped below EMA20 in the short-term downtrend, and the 0.8236$ support zone is being tested. Rejection at nearby resistances increases liquidity hunt potential.

Current Price Position and Critical Levels

NEXO is positioned in the overall downtrend structure at its current 0.83$ price. On the daily chart, it’s trading below EMA20 (0.85$), which gives a short-term bearish signal. RSI is neutral at 46 but shows momentum loss. 24-hour 3.93% drop and 866K$ volume indicate selling pressure dominance. 15 strong levels detected across multiple timeframes (1D/3D/1W): 4 supports/3 resistances on 1D, 2S/2R on 3D, 3S/3R on 1W. Price has narrowed in the recent range between 0.83$-0.87$; liquidity zones are critical for breakout.

Support Levels: Buyer Pools

Primary Support

0.7747$ (Strength Score: 75/100) – This level stands out as the strongest buyer zone. Reasons: Coincides with order block (OB) formation on 1W timeframe; tested three times in October 2025 with strong bounces (average 12% recovery). High volume profile (25% of market volume here), demand zone confluence on 3D chart. When price approached here in the past, it formed wicks and got rejected; invalidation on break below 0.76$, which opens path to 0.6595$. Multi-timeframe confirmation is strong, big players may be accumulating liquidity for stop hunts.

Secondary Support and Stop Levels

0.8236$ (Score: 72/100) – Immediately below current price (0.83$), short-term secondary support. Swing low from recent lows on 1D, confluence with EMA50 (around 0.82). Volume increase observed here in the last 48 hours, buyers testing. Second level 0.6595$ (Score: 68/100): Deep demand zone on 3D and 1W; main bottom in June 2025 (40% bounce), aligned with Fibonacci 0.618 extension. Stop levels: below 0.7747$ at 0.76$, below 0.6595$ at 0.62$ – big liquidity pool here, downside target 0.4920$. If these levels break, downtrend accelerates.

Resistance Levels: Seller Pools

Near-Term Resistances

0.8462$ (Score: 66/100) – Closest resistance, short-term supply zone aligned with Supertrend resistance (above 1.01$). Rejected at range top (0.87$) in the last 24 hours; volume drop is bearish. EMA20 (0.85$) here on 1D, volume required for breakout. If breakout weak, drop after liquidity grab.

Main Resistance and Targets

0.9045$ (Score: 72/100) – Main resistance; strong OB on 1W chart, failed breakout on three tests in November 2025 (avg. 8% drop). Supply imbalance on 3D, volume spikes show sellers. Upper level 0.9511$ (Score: 64/100): Fibonacci 0.5 retrace, EMA200 confluence. Upside target 1.2160$; all resistances must be cleared to reach here. Invalidation: Holding above 0.9045$ signals trend change.

Liquidity Map and Big Players

Big players (smart money) are targeting liquidity pools (stop-losses) at supports. Buyer stops between 0.8236$-0.7747$, high seller liquidity between 0.8462$-0.9045$. Price trapped at 0.83$; likely scenario: fakeout up (0.87$) then sweep to 0.77$, followed by bounce. Volume analysis: Low-volume range ideal for manipulation. Order flow: Bearish Supertrend, buyers waiting at 0.77$; R/R downside 1:2.5 (0.4920$ target).

Bitcoin Correlation

BTC at 63,560$ with 5.99% drop in downtrend; Supertrend bearish. NEXO correlates 0.85 with BTC – if BTC breaks 62,468$ support, NEXO dragged to 0.77$. If BTC resistances 64,264$-67,299$ cleared, altcoin rally possible, NEXO tests 0.90$. BTC dominance rise risky for alts; follow BTC levels for NEXO Spot Analysis and NEXO Futures Analysis.

Trading Plan and Level-Based Strategy

If price holds above 0.8236$, short-term recovery (test 0.8462$); below, 0.7747$ main defense. On breakout, watch 0.6595$, downside 0.4920$. Rejection at 0.9045$ above is sell opportunity, breakout targets 1.2160$. Wait for multi-TF confluence; risk management: 1-2% stop, R/R 1:3. This outlook based on past price action – market is variable. Follow links for spot/futures.