$NXPC Dipped lower, then recovered; hold off on chasing shorts
NXPC recently dipped to a 15-minute low of 0.1588 USDT, but the latest 5-minute candle closed back at 0.1594 USDT, reclaiming the previous reference low of 0.1592 USDT. This was only a wick below the level, with no candle close beneath it, so I’m not treating it as a signal that the downtrend is continuing.
Trading volume was 1.85 times the average 15-minute volume over the previous three hours. Activity has picked up, but that alone isn’t enough to justify chasing shorts. For now, I’ll hold off. I’ll reassess the bearish outlook only if a subsequent 5-minute candle closes below 0.1588 USDT.
NXPC recently dipped to a 15-minute low of 0.1588 USDT, but the latest 5-minute candle closed back at 0.1594 USDT, reclaiming the previous reference low of 0.1592 USDT. This was only a wick below the level, with no candle close beneath it, so I’m not treating it as a signal that the downtrend is continuing.
Trading volume was 1.85 times the average 15-minute volume over the previous three hours. Activity has picked up, but that alone isn’t enough to justify chasing shorts. For now, I’ll hold off. I’ll reassess the bearish outlook only if a subsequent 5-minute candle closes below 0.1588 USDT.