The Connext crypto was in a fascinating uptrend from November end 2023 as the price surged from $0.05000 to $0.42000. However, after reaching the $0.42000 mark, it failed and corrected some points and landed at the $$0.25000 level.
However, the NEXT crypto has revealed a sign of recovery as the price spiked from a crucial support level of around $0.25000 on the chart.
The Connext crypto is set for a colossal surge, as it gears up to crack the resistance level and rocket to new peaks from the current trendline support zone.
The NEXT asset is exhibiting bullish strength and rising capacity as it holds above the super trend and the 20 and 50-Day EMAs.
Indicators are giving bullish signals. The RSI is not near the 70 level yet and is sustaining above the 50 level as the curve approaches the 14-SMA.
NEXT is respecting the wedge pattern. It has performed well in the past month, and quarter by 67.16% and 603.47% respectively, indicating a strong uptrend.
At press time, the NEXT crypto displayed an impressive 8.17% surge over the last 24 hours, trading at $0.32031.
On top of that, if the demand for the Connext remains high, the asset price could continue to rise from the current level. If it clears the $0.42000 (resistance level) it could hit $0.60000.
On the flip side, if the NEXT crypto price fails to stay above the $0.25000 level, it could decline further and could even slip out of the wedge.
Summary
The NEXT crypto has revealed a sign of recovery as the price spiked from the crucial support level of around $0.25000. The Connext asset is exhibiting bullish strength as it holds above the super trend and key EMAs (20 and 50-Day).
If the demand for the Connext remains high, the asset price could continue to rise from the current level. $0.60000 is a level to watch out for.
Technical Levels
Support Levels: $0.25000
Resistance Levels: $0.42000
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
Source: https://www.thecoinrepublic.com/2024/02/03/will-connext-continue-in-the-wedge-pattern-reach-higher-levels/