On November 25th, Nexa made an ATH at 0.00002.
Following its ATH, Nexa began a correction to the 0.5 Fib at 0.0000177. For the last eight days, this level has been holding solid.
Nexa is Consolidating between the 0.5 and the 0.382 Fib levels. A daily close above the 0.382 Fib will likely reignite the bullish momentum.
The 21D EMA is resistance, and I would wait for a break and retest before entering a long trade—or, possibly, a break and retest above the 0.382 Fib.
My initial target is the 0.00002 level. However, Nexa could create a Cup and handle pattern, possibly sending it to 0.000028291. A 138% upside from its current price.
Trade Idea 1:
Entry: 0.0000124022 (21 D EMA).
SL: 0.0000105246 (Lowest Wick below the 0.5 Fib).
Target: 0.00002
R: R: 1:3.87
Trade Idea 2:
Entry: 0.0000137190 (0.382 fib).
SL: 0.0000117789 (0.5 fib).
Target: 0.00002
R: R: 1: 3.23
Leave some on the table for the higher target.
NFA.
What do you think? Please share in the comments
Best Wishes.