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2025-1-29 23:16 |
As of January 28, 2025, NEXO price stood at $1.46, marking a 2.5% increase within the last 24 hours.
The token has shown a 5.7% increase over the last 7 days and an impressive 67.5% over the past year, indicating a modest bullish trend.
With this momentum, many investors are anticipating NEXO to reclaim its all-time high (ATH) of $4.07, which it touched on May 12, 2021.
NEXO market sentimentWhile NEXO is currently 64.5% below its ATH, current market sentiment seems to be tilting towards optimism.
Several X posts highlight an increased enthusiasm around the token, with mentions of breaking local downtrend resistances and the potential for significant price jumps.
Technical analysis from experts like CW points towards a potential breakout.
CW has identified an inverse head and shoulders pattern which they believe a breakout of the shoulder line could lead rise to $3.1.
CW@CW8900·Follow$NEXO is forming an inverse head and shoulders pattern. Theoretically, a breakout of the shoulder line could lead rise to $3.1. $NEXO rally is imminent
9:18 PM · Jan 28, 20257ReplyCopy linkRead 1 replyPreviously, CW had indicated that the NEXO price is rising smoothly and if it follows the AB=CD pattern, it can rise to $1.8, with a possible rise to $1.975 if the extended ABCD pattern is formed.
CW@CW8900·Follow$NEXO is rising smoothly according to the pattern. If it follows the AB=CD pattern, it can rise to $1.8. If the extended ABCD pattern is formed, it can rise to $1.975.
9:21 AM · Jan 26, 202512ReplyCopy linkRead 1 replyAnother analyst dubbed Sr. Futurista on X, has pointed out the formation cup and handle pattern with an upper resistance line at $1.5, which if breached could lead to a major breakout.
Notably, while technical analysis suggests that the bulls are in control, there’s a substantial distance to cover for the token to reclaim its ATH of $4.07.
Also, market corrections below significant support levels, like $0.923, could shake investor confidence, emphasizing the need for sustained bullish momentum.
Things that could impact the price of NEXOAway from the market sentiment and technical analysis, Nexo’s focus on providing a comprehensive wealth platform for digital assets, including high-yield interest accounts and crypto-backed credit lines, adds layers of utility to the NEXO token, potentially attracting more investors.
In addition, following its rebranding in October 2024, NEXO has been proactive with global expansions, strategic partnerships, and improvements in client care, as announced in its latest campaigns.
This has amplified the visibility and utility of the $NEXO token contributing to its value appreciation.
Furthermore, the broader crypto market’s shift towards institutional adoption and the increasing interest in centralized finance (CeFi) platforms like Nexo is expected to further propel NEXO’s price higher.
Moreover, Nexo’s plans for an IPO and the growth in their Assets Under Management (AUM) from $7 billion to $11 billion suggest a robust operational framework that could support a bullish run for the token.
However, despite the optimism, Nexo faces regulatory hurdles, especially with its operations in the US market being limited due to past legal issues although there is growing speculation and hope around Nexo’s potential re-entry into the US market, which could significantly boost the token’s value.
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