$NEXO just broke its base — $0.795 closed under $0.796, and the next hour printed a fresh low of $0.787.
This one was deferred, not missed. Earlier today price sat exactly ON the $0.796 line — a touch, not a break, so it stayed unposted. Now the trigger from that ruling has fired on a closed candle: the 14:00 UTC hour closed $0.795 under the line, and the forming hour has stayed under it, wicking to $0.787. Live around $0.79.
Be honest about the size of this: it's a grind breaking down, not a flush. -1.9% on the day, on just $418k of Binance volume. The 1h chart sits under EMA20 $0.803 and EMA50 $0.808, RSI 35 — weak, but not washed out. Thin volume cuts both ways: no conviction behind the break either.
Context matters here. Nexo is a real midcap — rank #83, ~$789M market cap, all 1B tokens circulating — not a microcap lottery ticket. It listed on Kraken two days ago, and it's breaking down anyway: the new venue didn't hold it up. And there's no fresh headline driving today's move — this is technical, not news.
Levels: $0.796 is resistance now — an hourly close back above it and this break is a fake-out. Above that, $0.825. Below, $0.787 is the line — a close under it and the break has room, with no recent shelf underneath in this window.
Not a call. A one-tick close under a line is the softest kind of break — it dies fast if $0.796 gets reclaimed.
$0.796 reclaimed and this is a fake-out, or $0.787 gives way and the base break has legs?