Will NEXO Price Hit $1 Soon?

• Bullish NEXO price prediction ranges from $1.021 to $1.112.
• NEXO price might also reach $0.8 this 2023.
• NEXO’s bearish market price prediction for 2023 is $0.597.

Nexo is an Ethereum-based platform that was started in 2017. Its native token is denoted as NEXO and is present in the Ethereum blockchain, Binance Chain, and Polygon blockchain.

Nexo investors are bullish on the token since it has a return on investment (ROI) of over 24 times in the past four years. The crypto bubble in 1 led to an increase in the price of NEXO to its present all-time high (ATH) of $4.63, attained in November 2021. Irrespective of the recent crypto winter, NEXO investors are confident that the future of NEXO is bullish.

If you are interested in the future of Nexo (NEXO) and want to know the price analysis and prediction of NEXO for 2023, 2024, 2025, 2026, and up to 2030, keep reading this Coin Edition article.

Nexo (NEXO) Market Overview

What is Nexo (NEXO)?

Nexo claims they are the world’s leading and most trusted lending institution in the digital finance industry. Currently, Nexo prides itself on managing more than 5 million users across 200 jurisdictions. Moreover, Nexo continues to offer digital assets and professional financial services for its customers. Nexo also hopes to empower millions of individuals with crypto for an evolved financial system.

Apart from various digital assets, Nexo also offers its native token, NEXO, to its users. NEXO holders can easily access the various benefits offered by the platform. The NEXO holders receive the benefits based on their tier in the platform’s Loyalty Program. Highlighting some of the benefits, the platform claimed that the token holders could receive up to 12% interest per annum based on the NEXO held in their Savings and Credit Line wallets.

Furthermore, the platform mentioned on its website that they provide 50% higher yields with the “Earn” on the Crypto suite, up to 0.5% back in crypto rewards and purchases through the Nexo Exchange, and up to 5 free crypto withdrawals. 

The Nexo platform stated that they have combined the features of seamless user experience with military-grade security and insurance. Nexo has also partnered with various projects like Ledger, Vault, Bakt, and other custodians to ensure the safety and security of clients’ assets.

NEXO Current Market Status

After its recent launch, NEXO already ranked in the 95 position based on its market capitalization, according to CoinMarketCap. The current circulating supply of the Nexo platform’s native token is 560,000,011 NEXO, while its total supply is 1,000,000,000. 

Moreover, NEXO is priced at $0.6788, experiencing a 2.78% surge in seven days. With a market cap of $379,855,505, NEXO also witnessed a 3.13% fall in 24 hours. Even though NEXO had a huge demand initially, the trading volume, valued at $3,372,908, experienced a fall of 30.01%% in one day, indicating that the demand for this token is reducing.

Some of the crypto exchanges for trading NEXO are currently Binance, Bitfinex, Bitstamp, and Poloniex. 

Now, let’s dive further and discuss the price analysis of Nexo’s native token, NEXO, for 2023.

NEXO Price Analysis 2023

Will Nexo’s most recent improvements, additions, and modifications help its price rise? Moreover, will the changes in the digital asset industry affect NEXO’s sentiment over time? Read more to find out about NEXO’s 2023 price analysis.

NEXO Price Analysis – Bollinger Bands

The Bollinger Bands is a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilizes the time period and the stand deviation of the price. Normally, the default value of BB’s period is set at 20. The Bollinger Bands consists of upper and lower bands which can be used together, along with the middle line(simple moving average), to determine whether the price would rise or fall. 

The upper band of the BB is calculated by adding 2 times the standard deviations to the middle line, while the lower band is calculated by subtracting 2 times the standard deviation from the middle line. Based on the empirical law of standard deviation, 95% of the data sets will fall within the two standard deviations of the mean. As such, the prices of the cryptocurrency, when the Bollinger bands are applied should stay within the upper and lower bands 95% of the time is the concept behind this.

On the days when the bands expanded, there was a high probability that NEXO faced a trend reversal. However, after facing three major high volatility events, NEXO experienced slight trend reversals and continues to trade within the narrow bands of the indicator. While there have been trend reversals, NEXO has not experienced a major shift compared to its previous performance. 

Currently, a recently-formed candlestick of NEXO fell below the SMA and resides in the bottom half of the indicator. This could be an indication that the altcoin is facing a weak trend and would continue to trade in the bottom half of the indicator.  If it follows a similar pattern observed in the past, the bands could expand and NEXO would be trading in the top half of the indicator. However, it would still take some time before NEXO experiences a strong trend.     

NEXO Price Analysis – Relative Strength Index

The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is considered as the overbought region, and traders expect the price could fall soon.

Looking at the charts, the RSI is currently valued at 45.21, which is considered a weak trend as the value is between 50 and 30. Moreover, the RSI is currently below the SMA, which further confirms that NEXO is facing a weak trend. As the RSI is pointed downwards, NEXO could continue to fall down. 

However, when we look closer, NEXO has been facing trend reversals continuously. For instance, after the RSI climbed the 64 level, it went below the SMA and vice versa. There is a high probability that NEXO could climb above the SMA as an ascending triangle pattern could be forming. Once the ascending triangle, the entry point would determine if NEXO’s sentiment is bullish or bearish.

NEXO Price Analysis – Moving Averages

Looking at the charts, NEXO is facing a weak trend, as the 50MA is below the 200MA. Since March, NEXO’s candlesticks have been below the 200MA indicating a weak trend for the long term. Moreover, NEXO currently shows signs of consolidation as the recent candlestick is trading in between the 200MA and the 50MA.  

Furthermore, the chart also highlighted that the distance between the 50MA and the 200MA continues to reduce. This could be a positive sign that NEXO could experience a golden cross, where the 50MA crosses and goes above the 200MA. However, trader should be cautious as the the distance between the MA indicators could also widen in case of a bearish sentiment.  

NEXO Price Analysis – Moving Averages Convergence Divergence 

The Moving Average Convergence Divergence (MACD) indicator can be used to identify potential price trends, momentums, and reversals in markets. MACD will simplify the reading of a moving average cross easier. The MACD indicator is calculated by subtracting the long-term EMA (Exponential Moving Average) indicator from the short-term EMA. Normally, the default values for the MACD are set at 12-day EMA, 26-day EMA, and 9-day EMA. Moreover, MACD is considered a lagging indicator as it cannot provide trade signals without any past price data. 

Traders have reported that occasionally the Moving Average could create false signals about the price momentum, however, MACD plays an important role as it can confirm the trends and identify the potential reversals.

Furthermore, there are two methods through which traders can speculate the price’s momentum: the crossover method and the histogram method. In the crossover method, when the MACD line crosses above the signal line, the trend could change from a downtrend to a long trend. However, if MACD crosses below the signal line, this could indicate the start of a downtrend.

In the Histogram method, the bars above the signal line indicate an uptrend. Meanwhile, the Histogram bars below the signal line indicate a bearish trend.

The MACD line is currently above the signal line, indicating that NEXO is experiencing a slight surge. Moreover, the MACD line is touching the signal line, indicating that the slight surge has ended. If the MACD line crosses below the signal line, then, NEXO would once again face the bears’ attack. 

However, it remains to be seen if the bears’ reign would be short or long. If the NEXO follows a similar pattern, then, the MACD line could reverse once again into the bulls’ hands.

NEXO Price Prediction 2023-2030 Overview

NEXO Price Prediction 2023

Looking at the charts, NEXO indicates that it would face a bearish sentiment in the long run. Moreover, NEXO has been trading under the 200MA for a long time. During the formation of its parabolic curve pattern, NEXO crossed the boundaries of the 200MA at its third base. However, NEXO fell from its third base and started trading below the 200MA, indicating that the altcoin would continue to be under the bears’ rule.

The ADX is currently valued at 14.91, which shows that the trend strength is weak. Moreover, the ADX is also pointed downwards, indicating that NEXO would continue to face weak trends for some time before any reversal. Moreover, NEXO’s candlesticks are directly below the 200MA and the gap between them is gradually decreasing. If the altcoins break through the 200MA barrier, then, it could reach Resistance.  However, NEXO’s continuous movement below the 200MA could risk the altcoin falling into the Support region.

Meanwhile, the price prediction of NEXO for 2023 remains to be bullish and is expected to reach beyond the level of $1.012. The bearish price prediction range for NEXO is between $0.559 to $0.597.  

NEXO Price Prediction – Resistance and Support Levels

The charts reveal that NEXO is currently trading between Resistance 1 and Support. Moreover, the candlesticks are trading closer to the Support region. If it continues to face the bears’ attack, then, it could fall into the Support region at $0.597. There is a high possibility that NEXO could not fall below the Support region. However, if NEXO experiences an uptrend, then, it could climb towards the Resistance 1 region at $1.209 and rise higher.

NEXO Price Prediction 2024

Traders are looking forward to this year as it could be a historic moment for cryptocurrencies, as the Bitcoin halving is expected to happen in 2024. Most of the time, whenever BTC rises, traders have observed a similar surge in the altcoins. NEXO could also be affected by Bitcoin halving and could trade beyond the price of $5 by the end of 2024.

NEXO Price Prediction 2025

NEXO could still experience the after-effects of the Bitcoin halving and is expected to trade above its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, NEXO will continue to rise in 2025 forming new resistance levels. It is expected that NEXO would trade beyond the $7 level.

NEXO Price Prediction 2026

It is expected that after a long period of bull run, the bears would come into power and start negatively impacting the cryptocurrencies. During this bearish sentiment, NEXO could tumble into its support region of $6. Moreover, when NEXO remains in the oversold region, there could be a price correction soon. NEXO, by the end of 2026, could be trading beyond the $8 resistance level after experiencing the price correction.

NEXO Price Prediction 2027

Naturally, traders expect a bullish market sentiment after the crypto industry was affected negatively by the bears’ claw. NEXO is expected to rise after its slumber in the bear season. Moreover, NEXO could even break more resistance levels as it continues to recover from the bearish run. Therefore, NEXO is expected to trade at $10 by the end of 2027.

NEXO Price Prediction 2028

Once again, the crypto community is looking forward to this year as there will be a Bitcoin halving. Alike many altcoins, NEXO will continue to form new higher highs and is expected to move in an upward trajectory. Hence, NEXO would be trading at $12 after experiencing a massive surge by the end of 2028. 

NEXO Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market would gradually become stable by this year. In tandem with the stable market sentiment and the slight price surge expected after the aftermath, NEXO could be trading at $14 by the end of 2029.

NEXO Price Prediction 2030

After witnessing a bullish run in the market, NEXO and many altcoins would show signs of consolidation and might trade sideways for some time while experiencing minor spikes. Therefore, by the end of 2030, NEXO could be trading at $16.

NEXO Price Prediction 2040

The long-term forecast for NEXO indicates that this altcoin could reach a new all-time high(ATH). This would be one of the key moments as HODLERS may expect to sell some of their tokens at the ATH point. However, NEXO may face a slight fall before starting its upward journey once again. It is expected that the average price of NEXO could reach $27 by 2040.

NEXO Price Prediction 2050

The community believes that there will be widespread adoption of cryptocurrencies, which could maintain gradual bullish gains. By the end of 2050, if the bullish momentum is maintained, NEXO could surpass the resistance level of $51.  

Conclusion

To summarize, if investors continue to show interest in NEXO and add these tokens to their portfolio, then, it could continue to rise up. NEXO’s bullish price prediction shows that it could pass beyond the $1.021 level. Moreover, NEXO could surpass the $50 level by the end of 2050. 

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Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. CoinEdition and its affiliates will not be held liable for any direct or indirect damage or loss.

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