In this NEXO technical analysis, we will examine the current price action, trading volume, key levels and indicators for NEXO-USDT. NEXO is a cryptocurrency that was created in 2018 with the goal of providing a fast, secure, and decentralized platform for financial transactions. The NEXO blockchain uses a unique consensus algorithm called “Proof of Stake” which allows for faster transaction times and lower energy consumption compared to other blockchain platforms. With its innovative technology and user-friendly interface, NEXO has quickly gained popularity among cryptocurrency enthusiasts and is widely recognized as one of the most promising new cryptocurrencies in the market today.
NEXO Price Overview:
As of October 02, 2023, NEXO is trading at approximately 0.556 USDT. Let’s dive into the detailed price action for NEXO-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.562 |
| High (H) | 0.573 |
| Low (L) | 0.555 |
| Close (C) | 0.556 |
| Volume (C) | 882,611.02 |
- Open (O): The opening price for today’s trading session was approximately 0.562 USDT.
- High (H): NEXO reached a daily high of around 0.573 USDT.
- Low (L): The daily low for NEXO-USDT was approximately 0.555 USDT.
- Close (C): At the time of analysis, NEXO is trading near its daily close of 0.556 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.07% |
| 3D Change (%) | 0.36% |
| 7D Change (%) | 1.09% |
| 30D Change (%) | -4.63% |
| 90D Change (%) | -13.12% |
| YTD Change (%) | -15.50% |
Over the past three days, NEXOUSDT has increased by approximately 0.36%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 1.09%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with NEXOUSDT maintaining a downward trend of approximately -4.63%, despite intermittent fluctuations. Examining the last 90 days, NEXOUSDT has witnessed substantial fall of approximately -13.12%, reflecting strong long-term confidence. Year-to-date, NEXOUSDT has steadily depreciated by around -15.50%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
NEXO Live Chart:
You can access a live price chart for NEXO-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.24417.
- Momentum score is -0.04631.
NEXO USDT Technical Analysis
NEXO Trading Volume:
The trading volume for NEXO (NEXO) over the past 24 hours has been significant, with approximately 882,611.02 USDT traded against NEXO. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): NEXO is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): NEXO is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for NEXO-USDT is currently in the low zone, around 43.10105. This suggests that NEXO is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
NEXO (NEXO-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
