NU/USD - Buy Opportunity After a Local Correction

In just a few days, NuCypher has demonstrated impressive growth as the price of the asset has increased almost threefold. Such growth cannot persist without a short-term correction, which has already begun on the 4H chart. According to its RSI indicator, the coin has begun to move out of the overbought zone. The chart has also managed to roll back to 0.618 Fibonacci level in its last major movements and is currently fluctuating around the 0.5 Fibonacci level.

Given its strong activity from the buyers, NuCypher could hit a new ATH ( all-time high) after said correction. It makes sense to gradually buy back the coin at current levels and place several security orders to buy below market price.

The GRID bot from 3Commas is a perfect assistant to this. To activate, ensure your Coinbase Pro account is synced with your 3Commas account and follow these steps:

  • Head over to the GRID Bot by choosing it from the main menu in your 3Commas account;
  • Select the USDT Market and the NU/USD pair;
  • In the GRID Bot tab, go to the Manual strategy settings;
  • Set the upper limit price to $0.86 and the lower limit price to $0.44
  • Number of grid lines: 10
  • Set the quantity per grid parameter according to the amount you wish to spend on each trade;
  • Click the Create button.

Best of luck, and happy trading!
-The 3Commas Team


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