In this NEXO technical analysis, we will examine the current price action, trading volume, key levels and indicators for NEXO-USDT. NEXO is a fast-growing cryptocurrency that offers a unique blend of decentralized finance (DeFi) and non-fungible tokens (NFTs). With its innovative features and strong community support, NEXO has quickly gained popularity among crypto enthusiasts. As a result, the cryptocurrency has seen significant growth in recent months, solidifying its position as a promising player in the digital assets market.
NEXO Price Overview:
As of July 08, 2024, NEXO is trading at approximately 1.051 USDT. Let’s dive into the detailed price action for NEXO-USDT:
| Metric | Value |
|---|---|
| Open (O) | 1.022 |
| High (H) | 1.08 |
| Low (L) | 0.987 |
| Close (C) | 1.051 |
| Volume (C) | 1,247,605.54 |
- Open (O): The opening price for today’s trading session was approximately 1.022 USDT.
- High (H): NEXO reached a daily high of around 1.08 USDT.
- Low (L): The daily low for NEXO-USDT was approximately 0.987 USDT.
- Close (C): At the time of analysis, NEXO is trading near its daily close of 1.051 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 2.94% |
| 3D Change (%) | 0.57% |
| 7D Change (%) | -13.36% |
| 30D Change (%) | -26.14% |
| 90D Change (%) | -24.12% |
| YTD Change (%) | 23.94% |
Over the past three days, NEXOUSDT has experienced a moderate increase of approximately 0.57%, indicating a rise in market volatility. In contrast, its performance over the last week has been marked by a decline of around -13.36%, suggesting a decrease in investor interest. A 30-day analysis provides a more comprehensive view, revealing a downward trend of approximately -26.14%. Looking further back at the last 90 days, NEXOUSDT has witnessed a significant fall of around -24.12%, reflecting a loss of long-term confidence. However, year-to-date, NEXOUSDT has demonstrated steady growth, increasing by approximately 23.94%.
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 0.52519.
- Momentum score is -0.20076.
NEXO USDT Technical Analysis
NEXO Trading Volume:
The trading volume for NEXO (NEXO) over the past 24 hours has been insignificant, with approximately 1,247,605.54 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 37.71186. This suggests that NEXO is in bearish territory.
Analysis from TradingView:
Our Key Takeaways: NEXO (NEXO-USDT) is currently experiencing short-term bearish momentum, with key support and resistance levels drawing attention. 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 insignificant trading volume are low signals indicating a potential downward movement.
Clearly see potential bearish trend for NEXO (NEXOUSDT) at 1.05 USDT through detailed technical analysis, highlighting weakened support and cautionary indicators.
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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.