- NEXO price is currently in a downside correction mode and can soon hit a low of $1.4 . It is currently near the level of $1.78
- NEXO coin price technical indicators suggest a downside momentum . In contrast,NEXO/BTC pair has seen a loss of more than 5.44%
Why To Invest In NEXO Crypto?
Nexo crypto price is currently in a downside momentum and can soon see a low of $1.5. It is currently trading near the value of $1.7 with a loss of more than 4% in the intraday session.
The platform gives its users crypto currency backed loans with the help of blockchain platforms. The users of NEXO can deposit tokens such as Bitcoin, ETH, Litecoin or XRP as a security to receive the loan against their collateral. NEXO coin has an ROI of more than 1700% which has differentiated it from other projects. The asset of the coin is currently up by more than 10X in just a four months time.
A team of finance and crypto enthusiasts were the founders of this block chain platform. NEXO claims to be the first platform for crypto backe loans. The platform is also working to remove the inefficiencies in the lending and borrowing infrastructure by implementing the smart contracts. NEXO/BTC pair is also in a downtrend but can soon see an uptrend.One can position their fund in the NEXO as per their risk capacity and price action.
Technical Indicators Hints Towards A Downside Correction For NEXO Crypto Price
The weekly technical chart of the NEXO coin price suggests a downside momentum in the coin price . On the daily chart, the asset price is observing a downside momentum. Resistance for Nexo crypto price while going upwards can be observed near $3. The bounceback region in the coin price can be observed near $1. The price of the coin is currently trailing above 50 and below 100 Daily Moving Average, with a negative cross over in the past session. The 100MA line is at $2.14 making it a temporary area for the resistance zone. If the asset price goes above $3 then a strong upside momentum can be observed. NEXO/BTC pair is currently in a downtrend but can soon see an upside momentum.
Conclusion
NEXO crypto price is currently in a downtrend and can soon see an upside momentum . NEXO/BTC pair can also see an upside momentum in future. An Investor should do their due diligence before investing.
Technical Levels
Major Support:$1
Major Resistance:$3