Categories: CoinsMarket Analysis

NXT Technical Analysis for 12/03/2015 – Big Support at 0.000015

NXT is currently in a long-term bear market that started in May of 2014. The digital currency is now trading at an all-time low, but there are some signs of stability. For example, the 0.0000155 level has now held as support about six different times since the start of November.

The 4-hour chart is showing several high-volume Pin candle formations. These bars have some of the highest volumes in the past 30 days, which is a very telling sign regarding the imbalance of supply/demand at 0.000015. There seems to be a lot of buyers between 0.000015 – 0.0000155. Pin candles – especially high volume ones –  that occur at extreme lows, very frequently precede market reversals. I would not be surprised if there is a rally in the next few days.

 

Related Post

 

Disclaimer:  This is not trading/investment advice!

Chart Source: https://poloniex.com/exchange#btc_nxt

If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

Traderman

Avid blogger, entrepreneur, and cryptocurrency enthusiast. I love writing about cryptocurrency, NFTs, price analysis, and much more!

Share
Published by
Traderman

Recent Posts

Bitcoin Mining Difficulty Drops Again As Network Adjusts To Changing Conditions

Something just shifted again on the Bitcoin network, and it’s one of those things miners…

14 hours ago

Ethereum Whale Quietly Returns to the Market With a Slow and Steady Buying Pattern

Something interesting is quietly happening in the market again, and it’s coming from a name…

14 hours ago

XRP Ledger Sees Explosive Growth In Activity And Wallet Distribution Despite Sideways Price Action

At a glance, XRP’s price hasn’t done much lately. It’s been moving sideways, not giving…

14 hours ago

SEC Rolls Out Sweeping “Advance, Clarify, Transform” Agenda In Major Push To Rethink Outdated Rules

At the latest “SEC Speaks in 2026” event, the U.S. Securities and Exchange Commission made…

2 days ago

Morgan Stanley Moves Closer To Spot Bitcoin ETF Launch

Morgan Stanley is edging further into the crypto space after filing a second amended S-1…

2 days ago

Vitalik Buterin Sounds Alarm On Crypto’s Future, Says Speculation And Platforms Like Pumpfun Risk Long-Term Collapse

Ethereum co-founder Vitalik Buterin is once again stirring conversation across the crypto space, this time…

2 days ago