NuCypher is testing .58 and possibly for the last time before reversal. This is a lower risk, (assuming you are using a tight stop) but high reward situation. Nu has taken a dip due to BTC recent breakout upwards. Pushing down price on the NU/BTC trading pair. This could present a buy opportunity.
RSI and MACD are both in uptrend and hovering just below reversal levels (rsi 50).
volume is very low, which I interpret as "price is to low to short now" and "Is this the time to buy?".
next price action could depend on BTC price action. BTC will need to retest support around 62000 at some point. I expect NU/BTC to increase a lot at this point.
my evaluation is that NU price will see big increase soon, although there is potential to see a drop to .56 level. I don't expect this as volume is very low and it would require an "adverse event" to push down to such levels.. but use a stop to protect yourself if you are worried about a drop.
Commento
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Nu is being pushed down to previous support at .55. Look for bounce or possible continued drop if breaks below.
seems like it would be a good thing for NU, but I assume its because people want to secure their assets when something is about to change. Until they know it is safe. They will come back when its proven stable. Which also happened today. The validation was done and passed. So I think price will come back shortly.
dennisp1992
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@MattYeager, Ah good call!
justincolburn24
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I think nobody wants in on NU right now. There’s zero hype and ppl are waiting for price to drop more.