Nexo is Trading 46.23% Above Our Price Prediction for Dec 12, 2022

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

  • Nexo is down -3.25% today against the US Dollar
  • NEXO/BTC decreased by -3.33% today
  • NEXO/ETH decreased by -3.37% today
  • Nexo is currently trading 46.23% above our prediction on Dec 12, 2022
  • Nexo dropped -36.07% in the last month and is down -72.56% since 1 year ago
Nexo price $ 0.642078
Nexo prediction $ 0.439091 (-31.61%)
Sentiment Bearish
Fear & Greed index 29 (Fear)
Key support levels $ 0.641514, $ 0.628168, $ 0.611526
Key resistance levels $ 0.671502, $ 0.688144, $ 0.701490

NEXO price is expected to drop by -31.61% in the next 5 days according to our Nexo price prediction

is trading at $ 0.642078 after losing -3.25% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -2.94% in the same time period. NEXO performed poorly against BTC today and recorded a -3.33% loss against the world’s largest cryptocurrency.

According to our Nexo price prediction, NEXO is expected to reach a price of $ 0.439091 by Dec 12, 2022. This would represent a -31.61% price decrease for NEXO in the next 5 days.

NEXO Price Prediction Chart

Buy/Sell Nexo

What has been going on with Nexo in the last 30 days

Nexo has been displaying a negative trend recently, as the coin lost -36.07% in the last 30-days. The medium-term trend for Nexo has been bearish, with NEXO dropping by -28.86% in the last 3 months. The long-term picture for Nexo has been negative, as NEXO is currently displaying a -72.56% 1-year price change. On this day last year, NEXO was trading at $ 2.34.

Nexo reached its all-time high price on May 12, 2021, when the price of NEXO peaked at $ 4.07. The current NEXO cycle high is $ 1.15, while the cycle low is at $ 0.550050. NEXO has been displaying high volatility recently – the 1-month volatility of the coin is at 11.26. Nexo recorded 15 green days in the last 30 days.

Nexo technical analysis for today – Dec 07, 2022

The sentiment in the Nexo markets is currently Bearish, and the Fear & Greed index is reading Fear. The most important support levels to watch are $ 0.641514, $ 0.628168 and $ 0.611526, while $ 0.671502, $ 0.688144 and $ 0.701490 are the key resistance levels.

Bearish sentiment for Nexo

0 indicators are currently signaling a bullish prediction for Nexo, while 30 indicators are showing a bearish forecast. With 100% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Nexo.

Crypto market is currently experiencing Fear

Currently, the Fear & Greed index is at 29 (Fear), which signals that investors have a negative outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Nexo moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Nexo is positioned in the market right now.

Period Daily Simple Daily Exponential Weekly Simple Weekly Exponential
MA3 $ 0.668386 (SELL) $ 0.654860 (SELL)
MA5 $ 0.665424 (SELL) $ 0.661812 (SELL)
MA10 $ 0.661243 (SELL) $ 0.665419 (SELL)
MA21 $ 0.678511 (SELL) $ 0.689159 (SELL) $ 0.843245 (SELL) $ 0.875651 (SELL)
MA50 $ 0.810734 (SELL) $ 0.762752 (SELL) $ 1.39 (SELL) $ 1.20 (SELL)
MA100 $ 0.867256 (SELL) $ 0.833971 (SELL) $ 1.77 (SELL) $ 1.32 (SELL)
MA200 $ 0.859197 (SELL) $ 1.01 (SELL) $ 0.959539 (SELL) $ 1.15 (SELL)
Period Value Action
RSI (14) 39.92 NEUTRAL
Stoch RSI (14) 87.62 SELL
Stochastic Fast (14) 27.73 NEUTRAL
Commodity Channel Index (20) -66.67 NEUTRAL
Average Directional Index (14) 25.45 SELL
Awesome Oscillator (5, 34) -0.09 NEUTRAL
Momentum (10) -0.05 NEUTRAL
MACD (12, 26) 0.01 NEUTRAL
Williams Percent Range (14) -72.27 NEUTRAL
Ultimate Oscillator (7, 14, 28) 34.28 NEUTRAL
VWMA (10) 0.67 SELL
Hull Moving Average (9) 0.67 SELL
Ichimoku Cloud B/L (9, 26, 52, 26) 0.74 NEUTRAL

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Nexo is at 39.92, suggesting that NEXO is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Nexo over the last 50 days. Currently, Nexo is trading above the SMA 50 trendline, which is a bullish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the NEXO closing price for the last 200 days. NEXO is now trading above the SMA 200, signaling that the market is currently bullish.

The bottom line about this Nexo prediction

After considering the above factors, we can conclude that the current forecast for Nexo price prediction is Bearish. NEXO would have to decrease by -31.61% to hit our $ 0.439091 target within the next five days. Moving forward, it will be important to monitor the NEXO market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Nexo price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

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