The market corrected the previous upward movement. The price dropped to possible reversal zone formed by 0.786 Fib level and SMA50. This zone can stop and reverse the market and it's good for buying. RSI is at the oversold zone and it confirms price reversal. DMI allows opening long trades. This signal could be supported by MACD, but it still confirms downward movement. If you need an additional confirmation for buying, you should wait for MACD histogram reversal. But it's possible to place buy orders based on the existing signals confirming price reversal. Entry level is 0.750000 with stop orders at 0.420000 level. Profit targets are 1.250000 and 2.000000 levels. The part of trade volume can be left for long run.
I respect DLavrov's knowledge but I think this trade completely ignores the fundamentals, which is NXT is a dying coin. Even the developers are going to dump it for the Ignis project, which makes me really doubtful of NXT going to $2.
bigLITTLE
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@Godzmainman, DLavrov's knowledge is amazing if we ignore the fundamentals. This time, I disagree with DLavrov.
ashleybean883
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@Godzmainman, what the hell are u talking about? NXT is dying? I guess that's why they made a deal with Austrian government recently. Do you even know whats the use of NXT? Go do some research, watch interviews with developers where they're saying what they're planning to do with NXT and Ardor platforms because I feel like your opinion is based on 3 random reddit posts.
"Even developers are going to dump it for Ignis project". This... Jelurida already sold their NXT long before snapshot which was even confirmed by them. Again, do a research before spreading shit.
hastarin
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@Godzmainman, NXT is not dying. They've been doing interviews discussing their continuing plans for NXT. Amongst other things it's being used as a platform for anyone wanting to launch an ICO, with the condition that they must give 10% of their coins to existing NXT holders.
As someone who still holds a reasonable portion of his holding in NXT I'd love this to be true but...
I do agree this is missing the fundamentals of the pump, and subsequent dump, from the IGNIS drop and just shows a flaw with purely technical analysis.
That said NXT was still trending higher prior to the announcement of the IGNIS drop and certainly has potential but in my opinion is currently consolidating after the bounce.
Any gains against USD are largely because the underlying BTC is gaining.
crypto_dz
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@Godzmainman, NXT is not dying however, it won't be more valuable than ARDR or IGNIS. The value of NXT will trail ARDR and IGNIS just like ETC pegging ETH, LTC pegging BTC....
Godzmainman
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@crypto_dz, @hastarin thanks for the comments. One question I have for you guys is how long will the developers continue to support NXT for? I've heard 2 years but I have to admit I heard from word of mouth. If it is true, the fundamentals of this coin is not good for investing but I guess it could still be tradeable
hastarin
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@Godzmainman, I can't say I've heard any time frame from them for no longer supporting it but I'm not following it that closely.
I imagine as long as there is interest and they're making something from it (via ICOs or whatever) they'll support it. ;)
crypto_dz
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@Godzmainman, NXT will continue to work as an ICO platform and ARDR is also based on NXT technology.
martj
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I think we should wait until IGNIS/ARDOR markets open and people have stopped dumping nxt for ignis/ardr.
crypto_dz
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@martj, I think people dumping NXT already left the ship.....