I bet not many heard of Nexium. To be honest, I knew very little about it as well. If you want some more details, to be sure to check the links at the end of the post. As always, I am only concern about trading and experimenting each ‘token’ asset from the simple technical methods.
First of all, i had been monitoring Nexium or NXC since early of the year. I only bought very tiny amount of NXC after the first major pump. NXC was first traded on Poloniex 19 December 2017. The asset had been drawing steady daily trading volume after the listing. It is very low profile, you can hardly find any news and buzz about it. Nonetheless, due to the consistent amount of volume and occasional pump in volume and price, NXC could be an interesting altcoin to trade.
Nexium (NXC/BTC) is currently trading at Ƀ 0.000066652 distance away from 0.382 Fibonacci Retracement Level(on the peak level February 16). The NXC price is under heavy selling pressure from yesterday close, plummeted about -12.8%. The average numbers of volume is at Ƀ 113, not much different from its average daily volume on Poloniex.
The Ichimoku cloud showing the almost identical trade pattern. Multiple price reversals occurred right on crosses between conversion line and base line. Furthermore, the MACD crosses took place before similar charge. With that in mind, we could possible see more southward dips going forward. But please do take note there are some considerable support zones that drew from previous ‘overloaded’ price action activities that coincidentally testified with the exact Fibonacci Retracement Level. Please observe the pivot resistance and support zone listed below.
The 60-minutes chart clearly showing the price is hovering within the rangbound pattern. The support base showing great resilient with multiple reversal bounce from practically the same spot. But the trend are in favor to have another crack to the bottom.
Important Price Levels for the Short Term Based on Fibonacci Retracement Levels
Notable Resistance Levels
R1 – 0.00007760
R2 – 0.00009844
Notable Support Levels
S1 – 0.00005840
S2 – 0.00005440 (0.5 Fibonacci Retracement Level)
S3 – 0.00004730 (0.618 Fibonacci Retracement Level)
Trade Idea, refer to the hourly chart
Short but take notice on important support levels.
But remember the volatile Bitcoin price will affect the price of NXC and other altcoins. Therefore, please take caution, MUST set the take profit and cut lose ratio at 3:1.
Start Date : 29/09/2016
Max Supply : 100,000,000.0
Nexium is an Ethereum-based token created to be used as in-game currency for items in the Beyond the Void game, an upcoming real-time strategy video game. NXC was created to provide true ownership in the game.
Nexium #NXC Links
✘ Official Nexium Website
✘ Bitcointalk Thread
✘ Nexium (NxC) ICO
✘ Nexium (NxC) Facebook
✘ Twitter @BeyondVoidGame
Please let us know what your thoughts on this latest cryptocurrency sensation and update us if you have any insights in the comment section below.
Chart via tradingview, data source from Poloniex.
The author is a self-described cryptocurrency activist. Ironically, he is not involved directly on the development and mining. But a keen trader that specifically studying and analyzing the chart and prices based on zen principles of candlesticks price action techniques. And most importantly, he is always prone to deceiving price movements that can exposes to trading losses. So trading based on his personal opinions is extremely risky and not advisable.