Nio has dropped 51% from ATH, is currently on a daily support zone + an ascending trendline. The last descending trendline has been broken. We will consider that a new bullish movement can start if the price reaches the green line at 42.26, we will set invalidation levels below the support zone and final target on the next resistance level.

If we assume that the bearish trend keeps going, the next target from a technical perspective would be 1.65; as you can see in the past trend, we found strong bullish pressure there, and that level can become a turning point.