Hey fellow Steemers, I hope today has been a happy one for yourself. I woke up a little later than usual since I was writing some articles late last night and am finally done with university I gave myself the extra sleep. The crypto markets are playing nicely today, I'm especially enjoying XVG's performance.
So we've seen an increased sell off in NXT even though most other coins took this week well and began what is turning out to start looking like their next waves in the market cycles. As you can see on both the 6hr chart and the 12hr chart we fell through the cloud and are currently trading at a line of support. If we can hold this line and close on it or above and proceed to work through the cloud again this will be a very bullish sign for NXT. The Stoch RSI on both time frames is completely oversold and has been for a good while, so its my belief that we've finally worn out all the sellers. If you take a look at the volume candles on both time frames you can tell that this has been wearing off as well. Lets paint the next candle green!
Thank you for taking the time to read my post. If you think it is worth your upvote and resteem I would greatly appreciate it! You can follow me if you want more content similar to this or are interested in abstract psychedelic art and my general de-banking journey as I walk it. Lets start a conversation in the comment section.. let me know what your thoughts are :)
Peace, Love and Light.