Nexo: is the rally over? key levels and targets for todayNexo
Nexo is poking right into a heavy daily supply zone while the whole alt market is waking up again on the back of fresh optimism around liquidity returning to crypto, according to industry sources. Today price tagged that 0.91–0.93 resistance pocket and stalled, even though broader risk sentiment is still risk‑on. When an under‑the‑radar coin runs into an old sell wall during a bullish week, I start hunting for a fade instead of chasing.
On the 4H chart, price is pressing the top of the green demand area with RSI already near overbought and curling, hinting at tired bulls. VPVR shows the thickest volume node below current price, not above, so there’s more “air” overhead than support. I’m leaning short here, looking for a mean‑reversion move back into the mid‑range as late longs get squeezed.
My base plan: if Nexo keeps rejecting this red zone, I like a short targeting the 0.86 area first, with potential extension toward the lower green demand if momentum really flips. If price closes and holds solidly above this supply band with strong volume, I’m wrong and will step aside instead of fighting a breakout. I might be wrong, but fading euphoria at resistance has paid my bills more often than breakouts with FOMO entries.
