Nexo Price Prediction – Will NEXO Price Hit $5 Soon?

This Nexo (NEXO) Price Prediction 2022 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our NEXO price analysis and prediction.

There are various cryptocurrencies that rose to a new all-time during this 2021 bull run. In contrast, some crypto assets also faced a price drop. As a result, many digital currency traders are worried about whether it is time to hold or sell their digital assets. This is also the same situation that crypto traders could experience in NEXO which attends an all-time high value of $4.63 on November 16^th, 2021 according to CoinMarketCap.

Nevertheless, the crypto market is consolidating lately, and many cryptocurrencies are losing their previous profits. Will NEXO experience the same price volatility? We’ll find out shortly in this NEXO price prediction 2022 article. But first, let’s have a look at what NEXO is.

What is Nexo (NEXO)?

Nexo is a blockchain-related lending firm that provides users instant crypto-related loans. Moreover, users deposit the tokens such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC), or XRP (XRP) as collateral to get a loan in the form of a fiat currency or stablecoin.

NEXO is the native token of Nexo blockchain that will be locked in the platform which offers users benefits like discounts on interest gathered on loans and the chance to get interest payments on the funds deposited. More so, the token holders will receive dividends from the profit of Nexo. Notably, the project was first announced in December 2017, and it was released in April 2018.

Nexo was founded by a group of finance professionals and crypto enthusiasts, who turned to blockchain to develop the crypto equivalent to a service well established in traditional finance. However, hitherto non-existent in digital finance— borrowing against the price of your assets while retaining ownership. In 2018, the team released the Nexo platform, offering the world’s first crypto credit lines that allow crypto holders to get fiat and stable coin loans over their cryptocurrency, thus setting the foundations of the crypto lending niche.

In addition, the collective behind Nexo has a joined experience of more than 30 years in financial services, including non-crypto lending, investment banking, mergers and acquisitions, and hedge funds, with Co-founder and Managing Partner Antoni Trenchev added contributing with experience in Finance Law and in KYC and AML solutions.

Now that we are clear about NEXO do you think NEXO will be beneficial crypto in 2022? Join me and let us see the charts in this NEXO price analysis and NEXO price prediction.

Nexo (NEXO) Current Market Status

As of the time of writing this Nexo price analysis, NEXO trades at $2.21 with a 24-hour trading volume of $11,646,022. The price of NEXO has increased by 14.75% in the last 24 hours.

Furthermore, NEXO has a current circulating supply of 560,000,011.00 NEXO. Currently, the top cryptocurrency exchanges for NEXO are Huobi Global, TOKENCAN, Bitfinex, Hotbit, HitBTC, BiONE, and Pionex.

Now, let’s go to the next part of this NEXO technical analysis for 2022.

Nexo (NEXO) Price Analysis

Currently, NEXO holds 83rd place on CoinGecko. But will the latest upgrades, development, and changes in the NEXO blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this NEXO price prediction article.

Keltner channel is a technical analysis indicator that is used to determine trend directions by measuring the volatility above or below the candlesticks. From the Keltner Channel signals for NEXO, it could be seen that the present gain could continue since the last candlestick is getting closer to the top curve in the Keltner Channel chart above. This shows that the present increase in the price of Nexo (NEXO) is will be sustained for some days before any reversal would be expected.

The Relative Strength Index (RSI) measures the relative momentum in the magnitude of recent price changes so as to deduce oversold or overbought assets. The RSI value of Nexo(NEXO) 1day chart of NEXO/USDT is at 48.90.  This shows that NEXO is showing a neutral trend since it is between 30 and 50. This value is triggering a bullish run already since it seems that more buyers are repositioning as the value is moving towards the 50 RSI value from the oversold region of RSI value of 30.

The 200-MA and the 100-MA are almost overlapping which could make the 200-MA to be above it. If this happens, then the price of NEXO will be bullish in the long term.

Nexo (NEXO) Price Prediction

The chart below shows that NEXO has performed great over the past few days. Moreover, the NEXO price shows a bullish trend and it has increased by 16.4% in the past 14 days.. If this trend continues, NEXO might run along with the bulls, overtaking its $2.3863 at resistance1 level and move higher to $3.6800 at resistance3 level.

Conversely, if the investors turn against the crypto, the bears might take over and push NEXO from its uptrend position. In simpler terms, the price of NEXO might decrease to almost $1.3583, a bearish signal.

Meanwhile, our long-term NEXO price prediction for 2022 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $4.63 this year. However, that will only happen if it breaks many previous psychological resistances.

Nexo (NEXO) Price Prediction 2022

If this bullish trend continues, NEXO will reach $3.6800 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $3.0043. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $4 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Nexo (NEXO) Price Prediction 2023

If NEXO holds an RSI above 50 by the end of 2022, buyers will then have ample time and stability to forge the next attack mission on the vital level at $8 in 2023, making it not plummet but play consistently.

Nexo (NEXO) Price Prediction 2024

If there will be more upgrades and developments in 2024, the NEXO price predictions and project forecasts may change. Moreover, these may boost the price of NEXO. We can say that the price can still go bullish and spike up to around $10.

Nexo (NEXO) Price Prediction 2025

In the next four years, NEXO prices could race up to $15. However, reaching this level could not be so difficult for NEXO as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that NEXO has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Nexo (NEXO) Price Prediction 2026

By 2026, the price of NEXO would reach $20 since many individuals will have better knowledge of cryptocurrencies, therefore, increasing the investment in the industry.

Conclusion

Nexo has a bright future ahead of it in 2022. With the ongoing developments happening within the NEXO ecosystem, as well as in the overall crypto market, we may see NEXO reach new heights. Bullish NEXO price prediction for 2022 is $3.6800.

As said above, it may even reach $4 if investors have decided that Nexo is a good investment in 2022, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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