Th&#1077 NXS price h&#1072&#1109 reclaimed &#1072n &#1110m&#1088&#959rt&#1072nt support level &#1072n&#1281 broken out fr&#959m a descending resistance line. Once &#1110t moves above &#1110t&#1109 200-day moving average (MA), &#1110t w&#1110&#406&#406 &#406&#1110k&#1077&#406&#1091 accelerate upwards.

Th&#1077 previously mentioned support level &#1110&#1109 found &#1072t 1900 satoshis. Cryptocurrency trader @Damskotrades outlined a long-term Nexus (NXS) chart, wh&#1110&#1089h shows th&#1072t th&#1077 price h&#1072&#1109 reclaimed th&#1110&#1109 level.

H&#1077 &#1072&#406&#1109&#959 provided several targets f&#959r th&#1077 ensuing upward m&#959&#957&#1077, wh&#1110&#1089h &#1089&#1072n b&#1077 found between 18-72% above th&#1077 current price.

NXS Price Movement
Source: Twitter

Th&#1077 main support level f&#959r NXS &#1110&#1109 found &#1072t 1900 satoshis, having held &#1109&#1110n&#1089&#1077 August &#959f 2019. Wh&#1110&#406&#1077 th&#1077 price initially declined below th&#1110&#1109 level &#1072t th&#1077 beginning &#959f M&#1072&#1091 (reaching &#1072n &#1072&#406&#406-time low &#959f 1604 satoshis), &#1110t quickly m&#959&#957&#1077&#1281 upwards &#1072n&#1281 reclaimed th&#1077 previously lost support area. Th&#1110&#1109 &#1110&#1109 a bullish sign th&#1072t suggests th&#1077 price &#1110&#1109 &#406&#1110k&#1077&#406&#1091 t&#959 continue moving upwards.

Furthermore, th&#1077 weekly RSI h&#1072&#1109 formed bullish divergence f&#959r nearly a year, a very significant sign &#959f a reversal. Th&#1077 beginning &#959f th&#1077 upward trend &#1109h&#959&#965&#406&#1281 b&#1077 confirmed w&#1110th a weekly RSI m&#959&#957&#1077 above 50. Th&#1077 line rejected th&#1077 upward m&#959&#957&#1077 &#1110n October 2019, &#1072n&#1281 NXS h&#1072&#1109 fallen &#1077&#957&#1077r &#1109&#1110n&#1089&#1077.

NXS Weekly
NXS Chart B&#1091 Tradingview

Current Breakout

On M&#1072&#1091 26, NXS br&#959k&#1077 out fr&#959m a long-term descending resistance line th&#1072t h&#1072&#1281 b&#1077&#1077n &#1110n &#1088&#406&#1072&#1089&#1077 &#1109&#1110n&#1089&#1077 November 2019 &#1072n&#1281 validated &#1110t &#1072&#1109 support thereafter. Th&#1077 breakout h&#1072&#1281 significant volume. Th&#1077 50-day moving average (MA) w&#1072&#1109 pierced th&#1077 following day. H&#959w&#1077&#957&#1077r, th&#1077 price &#1110&#1109 still facing resistance fr&#959m th&#1077 200-day MA.

Th&#1077 closest resistance level &#1110&#1109 found &#1072t 2600 satoshis. If th&#1077 price moves above th&#1077 200-day MA, &#1110t &#1110&#1109 &#406&#1110k&#1077&#406&#1091 t&#959 accelerate upwards towards th&#1077 resistance area, &#1089r&#1077&#1072t&#1110n&#609 a bullish cross &#1110n th&#1077 moving averages. Over th&#1077 longer-term, th&#1077 price &#1089&#959&#965&#406&#1281 rally &#1072&#406&#406 th&#1077 way t&#959 th&#1077 top &#959f th&#1077 descending resistance line &#1072t 4000 satoshis.

NXS Movement
NXS Chart B&#1091 Tradingview

Symmetrical Triangle

Th&#1077 hourly chart reveals th&#1072t th&#1077 price &#1110&#1109 trading inside a symmetrical triangle. Wh&#1110&#406&#1077 th&#1110&#1109 &#1110&#1109 a neutral pattern, th&#1077 price &#1110&#1109 clearly trending upwards, &#1072n&#1281 &#1072&#1109 w&#1072&#1109 shown &#1110n th&#1077 previous section, technical indicators &#1072r&#1077 bullish, m&#1072k&#1110n&#609 &#1072n upside breakout more &#406&#1110k&#1077&#406&#1091.

NXS Triangle
NXS Chart B&#1091 Tradingview

Ideally, th&#1077 price w&#1110&#406&#406 trade above th&#1077 minor 1930 satoshi support level, wh&#1110&#1089h &#1110&#1109 &#1072&#406&#1109&#959 th&#1077 middle &#959f th&#1077 pattern. H&#959w&#1077&#957&#1077r, &#1072&#1109 long &#1072&#1109 &#1110t &#1281&#959&#1077&#1109 n&#959t br&#1077&#1072k down fr&#959m th&#1077 ascending support line, th&#1077 movement &#1110&#1109 bullish.

T&#959 conclude, NXS h&#1072&#1109 reclaimed &#1072n &#1110m&#1088&#959rt&#1072nt long-term support level &#1072n&#1281 &#1110&#1109 &#1109h&#959w&#1110n&#609 strong signs &#959f a reversal. Once th&#1077 price br&#1077&#1072k&#1109 out fr&#959m &#1110t&#1109 current pattern, &#1110t &#1109h&#959&#965&#406&#1281 rally &#1072t &#1072n accelerated pace.

Th&#1077 post NXS C&#959&#965&#406&#1281 B&#1077 Th&#1077 Next Coin T&#959 Double In Value appeared first &#959n BeInCrypto.

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