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.
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.
Cloud mining continues to gain massive traction as 2026 inches closer. In tough economic…
Solana Breakpoint wasn’t just another conference this year. It doubled as a stage for Jupiter…
Ripple has scored a major regulatory milestone in Europe. AMINA Bank AG, a Swiss-regulated digital…
a16z just dropped its annual report, and the message is clear: crypto isn’t slowing down.…
Ethereum has activated BPO-1, a protocol adjustment that increases blob capacity per block from 6…
CryptoBench just landed. Developed by ChainOpera AI and Princeton AI Lab, under the guidance of…