📉 $NEX (Nexus) Under Intense Bearish Pressure
$NEX is trading around 0.00000284, down more than 16% on the 1H timeframe. The chart shows a sharp breakdown from the 0.00000370 region, with sellers maintaining full control and pushing the token to fresh local lows.
🔍 Technical Highlights:
🔻 Strong bearish trend with consecutive lower highs and lower lows
🔻 Recent support around 0.00000300 failed to hold
🔻 Volume remains elevated during the selloff
🔻 RSI near 12, indicating extremely oversold conditions
🎯 Key Levels to Watch:
• Support: 0.00000280
• Next Support: 0.00000270
• Resistance: 0.00000300 - 0.00000310
• Major Resistance: 0.00000335
📊 While the trend remains decisively bearish, the extremely low RSI suggests the possibility of a short-term relief bounce. However, any recovery needs to reclaim 0.00000300+ before bulls can regain momentum.
⚠️ Catching falling knives can be risky. Traders should wait for signs of stabilization, increasing buying volume, and a higher-low formation before considering a trend reversal.