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- NIO stock price has initiated its recovery and might recover maximum during 2023, says analysts.
- Nio stocks signals for a recovery rally as NIO is trying to recover from its own ashes.
- Investors in Nio Inc (NYSE: NIO) might witness the upcoming recovery rally of NIO share price over the charts.
Nio stock price might recover with a strong recovery rally of 2023, says analysts and NIO might reach $25 in 2023 they added. Nio share price had an interesting roller-coaster ride and might recover maximum from the lowest level over the charts. NIO investors might witness the maximum recovery of NIO shares during 2023, added analysts.
Nio stock price needs to break out from the primary resistance level in order to initiate its recovery level towards the $25 level. Meanwhile, NIO share price is trying to recover above $10 to initiate its recovery rally over the daily time frame chart.
NIO stock price was at $8.73 and has gained 5.63% of its market capitalization during the day’s trading session. Trading volume has increased above average showcasing the accumulation rate of buyers. NIO shares might surpass the primary resistance level if it maintains the current accumulation rate.
Nio stock price (NYSE: NIO) might surge with strong uptrend momentum in order to initiate its recovery rally over the charts, according to the analysts from an esteemed organization. NIO share price is trying to reach the 20-EMA to surpass the 50, 100 and 200-days Daily Moving Average.
Moreover, Nio shares has gained around 3.89% of its market capitalization in a week confirming the facts regarding its maximum recovery during 2023.
Will Nio Stock Price Reach $25 Recovery Level?
Fib Retracement highlights some interesting levels to be attained by Nio stock price during 2023. At first Nio share price needs to sustain above $10 primary resistance level in order to initiate its recovery rally of 2023.
After that Nio share price must overcome the first milestone of $12.10 in order to continue the surge towards the second milestone at $14.58 for the halfway recovery of NIO share price over the daily time frame chart.
Nio share price needs to overcome the remaining milestones at $16.59, $18.60 and $21.46 in order to reach the $25 recovery level by the end of 2023.
Nio stock price might consolidate for a while after crossing the $25 recovery level then it might continue its surge towards the $35 recovery level by the end of 2023.
Nio Inc (NYSE: NIO): Technical Indications
Nio stock price is trying to recover with the current upward momentum over the daily time frame chart. Technical indicators suggest the upside trend of NIO stocks.
Relative strength index showcases the uptrend of NIO share price (NYSE: NIO). RSI was at 41 and is heading towards neutrality from the oversold territory. MACD exhibits the upside trend of NIO share price. The MACD line is crossing the signal line upwards, registering a positive crossover.
Investors in NIO shares need to wait until the NIO stock price surge out of the $10 primary resistance level to remain in the recovery rally during 2023.
Summary
Nio stock price might recover with a strong recovery rally of 2023, says analysts and NIO might reach $25 in 2023 they added. Meanwhile, NIO share price is trying to recover above $10 to initiate its recovery rally over the daily time frame chart.
Nio share price needs to overcome the remaining milestones at $16.59, $18.60 and $21.46 in order to reach the $25 recovery level by the end of 2023. Technical indicators suggest the upside trend of NIO stocks.
Technical Levels
Support Levels: $7.90 and $8.00
Resistance Levels: $10.00 and $20.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
