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- 1 NEXO price prediction suggests this token is in an uptrend and may continue the recovery in the coming months.
- 2 Nexo crypto price showed a steep rise and looks mildly overstretched.
- 3 The EMAs in Nexo are sloping upward and the price sustaining above it.
NEXO price prediction suggests this token might perform well in 2024 and may participate in the bull run. It rises upward by forming higher high swings and racing toward the $1.00 supply zone.
The EMAs in Nexo displayed a golden crossover and the price sustaining above it showcased an uptrend. However, the price had gone far away from the EMA so a short-term sell-off may trigger anytime.
In mid-November, the NEXO price succeeded in breaking out of the $0.700 hurdle which triggered a positive sentiment. It added fuel to the rally and the price continued the upward momentum. The breakout is supported by a high volume so it looks reliable and sustainable.
The chart pattern tells us that the NEXO crypto price had formed a strong base in the range between $0.600 to $0.700. So, any short-term retracement toward the support will have a high possibility of getting a bounce.
Currently, Nexo price is trading at $0.824 with an intraday decline of -1.55%. The 24-hour volume to market stands at $0.98% denoting that the liquidity is quite low.
Will NEXO Price Go Beyond $1.00 Mark?
NEXO price prediction favors the bulls and suggests the upward momentum may continue in the coming months.
At present, $0.871 is acting as a strong hurdle for bulls. If the momentum continues and Nexo buyers succeed in taking control of the supply zone. Then, a 10% to 15% rise is possible in a short period.
The analysis suggests that till the price sustains above the $0.700 level, the buyers will remain active and the probability of a breakout remains high. Therefore, investors must keep Nexo in their portfolios and expect nominal returns in the future.
Nexo Price is in a Strong Uptrend
Nexo price is in a strong uptrend and no signs of weakness are visible. The bulls are continuing their dominance and trying their best to break the $0.871 hurdle.
Meanwhile, the overall crypto market is performing well which positively impacts the price of Nexo and other altcoins.
The MACD curve slopes upward and the histogram bar is green indicating the bullish momentum might continue. The RSI at 68 shows the strength in the recent upmove and indicates more scope of upside is open.
Conclusion
NEXO price prediction suggests a rise in the short term as well as in the long term. This token price is in a strong uptrend and shows bulls are more active as compared to bears.
The analysis says that Nexo will soon break the $0.871 hurdle and go beyond the $1.00 mark.
Technical Levels
- Resistance levels: $0.871 and $1.000
- Support levels: $0.700 and $0.650
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
