- Bullish NEXO price prediction is $0.821 to $1.775.
- NEXO (NEXO) price might also reach $2 soon.
- Bearish NEXO price prediction for 2023 is $0.538.
In NEXO (NEXO) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about NEXO to analyze the future movement of the cryptocurrency.
NEXO (NEXO) Current Market Status
|24 – hour trading volume||$9,404,790|
|24 – hour price change||1.6% up|
|All – Time High||$4.07 (On May 12, 2021)|
What is NEXO (NEXO)?
N|exo is a blockchain-based lending platform that offers users instant cryptocurrency-backed loans. Nexo has a native token, NEXO, that when locked in the platform grants users benefits such as discounts on interest accumulated on loans and the opportunity to receive interest payments on funds deposited. Token holders also receive dividends from Nexo’s profits. Nexo is marketed to individual and institutional investors, cryptocurrency companies, exchanges, miners, and others who want liquidity from their assets. Nexo seeks to build a user base of clients that continue using the platform and remain invested in NEXO.
NEXO (NEXO) Price Prediction 2023
NEXO (NEXO) holds the 90th position on CoinGecko right now. NEXO price prediction 2023 is explained below with a daily time frame.
The above chart of NEXO (NEXO) laid out the Symmetric Triangle Pattern. Symmetric Triangle pattern is formed by two converging trendlines. In this pattern the upper trendline of the triangle connects the highs. Lower trendline of the triangle connects the lows.
Currently, NEXO (NEXO) is in the range of $0.8280. If the pattern continues, the price of NEXO might reach the resistance levels of $1.001, $1.188 and $1.398 . If the trend reverses, then the price of NEXO may fall to $0.618 and 0.538.
NEXO (NEXO) Support and Resistance Level
The chart below shows the support and resistance levels of NEXO (NEXO).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels of NEXO (NEXO).
|Resistance Level 1||$0.821|
|Resistance Level 2||$1.133|
|Resistance Level 3||$1.775|
The charts show that NEXO (NEXO) has performed a bullish trend over the past month. If this trend continues, NEXO might run along with the bulls overtaking its resistance level at $1.775.
Accordingly, if the investors turn against crypto, the price of NEXO (NEXO) might plummet to almost $0.551 , a bearish signal.
NEXO (NEXO) Price Prediction 2023 — RVOL, MA, and RSI
The Relative Volume (RVOL) of NEXO (NEXO) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of NEXO lies below the cutoff line, indicating weak participants in the current trend.
Also, the Moving Average (MA) of NEXO (NEXO) is shown in the chart above. Notably, NEXO (NEXO) price lies below 50 MA (short-term), so it is in a downtrend. Currently, NEXO has entered a bearish state. Therefore, there is a possibility of a reversal trend of NEXO at any time.
Meanwhile, the relative strength index (RSI) of the NEXO is 75.13. This means that NEXO (NEXO) is in an overbought state. However, this means a major price reversal of NEXO may occur in the upcoming days. So, traders need to trade carefully.
NEXO (NEXO) Price Prediction 2023 — ADX, RVI
Let us now look Average Directional Index (ADX) of NEXO (NEXO). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of NEXO (NEXO). Currently, the ADX of NEXO lies in the range of 56.317 and thus, it indicates a very strong trend.
The above chart also represents the Relative Volatility Index (RVI) of NEXO (NEXO). RVI measures the constant deviation of price changes over a period of time. The RVI of NEXO lies above 50, indicating high volatility. In fact, the RSI of NEXO (NEXO) is at 75.13 thus confirming a potential buy signal.
Comparison of NEXO with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and NEXO (NEXO).
From the above chart, we can interpret that the price changes of BTC, ETH and NEXO are moving in a similar trend. This indicates that when the price of BTC and ETH increases or decreases, the price of NEXO also increases or decreases respectively.
NEXO (NEXO) Price Prediction 2024-2030
Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of NEXO (NEXO) between 2024 and 2030.
NEXO (NEXO) Price Prediction 2024
If the declining price action completely slows down in momentum and the trend reverses, NEXO (NEXO) might probably attain $3 by 2024.
NEXO (NEXO) Price Prediction 2025
With several upgrades in the network, NEXO (NEXO) might enter a bullish trajectory. If the coin grabs the attention of major investors, NEXO might rally to hit $5 by 2025.
NEXO (NEXO) Price Prediction 2026
If NEXO (NEXO) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, NEXO would rally to hit $7
NEXO (NEXO) Price Prediction 2027
If NEXO (NEXO) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, NEXO would rally to hit $9
NEXO (NEXO) Price Prediction 2028
If NEXO (NEXO) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, NEXO would rally to hit $11
NEXO (NEXO) Price Prediction 2029
NEXO (NEXO) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, NEXO would hit $13 in 2029.
NEXO (NEXO) Price Prediction 2030
If investors flock in and continue to place their bets on NEXO (NEXO), it would witness major spikes. NEXO might hit $15 by 2030.
With continuous improvements in the NEXO network, we can say that 2023 is a good year for NEXO. For this reason, the bullish price prediction of NEXO (NEXO) in 2023 is $1.775. On the other hand, the bearish price prediction of NEXO (NEXO) for 2023 is $0.538.
Furthermore, with the advancements and upgrades to the NEXO ecosystem, the performance of NEXO would help to reach above its current all-time high (ATH) of $4.07 very soon. But, it might also reach $1 if the investors believe that NEXO is a good investment in 2023.
Nexo is a blockchain based lending platform that offers users instant cryptocurrency-backed loans.
NEXO (NEXO) has been listed on many crypto exchanges which include Binance, Bitfinex, Gate.io, Bybit, Bitget.
3. Will NEXO (NEXO) reach a new ATH soon?
With the ongoing developments and upgrades within NEXO platform, NEXO (NEXO) has a high possibility of reaching its ATH soon.
On May 12, 2020, NEXO (NEXO) reached its new all-time high (ATH) of $4.07.
NEXO (NEXO) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of NEXO in the past few months, NEXO is considered a good investment in 2023.
NEXO (NEXO) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then NEXO (NEXO) will hit $2 soon.
NEXO (NEXO) price is expected to reach $3 by 2024.
8. What will be NEXO (NEXO) price by 2025?
NEXO (NEXO) price is expected to reach $5 by 2025.
NEXO (NEXO) price is expected to reach $7 by 2026.
NEXO (NEXO) price is expected to reach $9 by 2027.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not interpret as investment advice. TheNewsCrypto team encourages all to do their own research before investing.