Nexo Price Prediction 2023-2030: Will NEXO Price Hit $1 Soon?

• Bullish NEXO price prediction ranges from $0.9236 to $1.05.
• NEXO price might also reach $1.5 this 2023.
• NEXO’s bearish market price prediction for 2023 is $0.508.

Nexo is an Ethereum-based platform that was started in 2017. Its native token is denoted as NEXO and is present in the Ethereum blockchain, Binance Chain, and Polygon blockchain.

Nexo investors are bullish on the token since it has a return on investment (ROI) of over 24 times in the past four years. The crypto bubble in 1 led to an increase in the price of NEXO to its present all-time high (ATH) of $4.63, attained in November 2021. Irrespective of the recent crypto winter, NEXO investors are confident that the future of NEXO is bullish.

If you are interested in the future of Nexo (NEXO) and want to know the price analysis and prediction of NEXO for 2023, 2024, 2025, 2026, and up to 2030, keep reading this Coin Edition article.

Nexo (NEXO) Market Overview

What is Nexo (NEXO)?

Nexo claims they are the world’s leading and most trusted lending institution in the digital finance industry. Currently, Nexo prides itself on managing more than 5 million users across 200 jurisdictions. Moreover, Nexo continues to offer digital assets and professional financial services for its customers. Nexo also hopes to empower millions of individuals with crypto for an evolved financial system.

Apart from various digital assets, Nexo also offers its native token, NEXO, to its users. NEXO holders can easily access the various benefits offered by the platform. The NEXO holders receive the benefits based on their tier in the platform’s Loyalty Program. Highlighting some of the benefits, the platform claimed that the token holders could receive up to 12% interest per annum based on the NEXO held in their Savings and Credit Line wallets.

Furthermore, the platform mentioned on its website that they provide 50% higher yields with the “Earn” on the Crypto suite, up to 0.5% back in crypto rewards and purchases through the Nexo Exchange, and up to 5 free crypto withdrawals. 

The Nexo platform stated that they have combined the features of seamless user experience with military-grade security and insurance. Nexo has also partnered with various projects like Ledger, Vault, Bakt, and other custodians to ensure the safety and security of clients’ assets.

NEXO Current Market Status

NEXO is already ranked in the 90 position based on its market capitalization, according to CoinMarketCap. The current circulating supply of the Nexo platform’s native token is 560,000,011 NEXO, while its total supply is 1,000,000,000. 

Moreover, NEXO is priced at $0.5821, experiencing a 0.42% fall in seven days. With a market cap of $325,236,697, NEXO also witnessed a 0.03% fall in 24 hours. Moreover, the trading volume is valued at $3,372,908, after experiencing a surge of 23.85%% in one day, indicating that the demand for this token is reducing.

Some of the crypto exchanges for trading NEXO are currently Binance, Bitfinex, Bitstamp, and MEXC. 

Now, let’s dive further and discuss the price analysis of Nexo’s native token, NEXO, for 2023

NEXO Price Analysis 2023

Will Nexo’s most recent improvements, additions, and modifications help its price rise? Moreover, will the changes in the digital asset industry affect NEXO’s sentiment over time? Read more to find out about NEXO’s 2023 price analysis.

NEXO Price Analysis – Bollinger Bands

The Bollinger Bands is a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilizes the time period and the stand deviation of the price. Normally, the default value of BB’s period is set at 20. The upper band of the BB is calculated by adding 2 times the standard deviations to the Simple Moving Average (SMA), while the lower band is calculated by subtracting 2 times the standard deviation from the SMA. Based on the empirical law of standard deviation, 95% of the data sets will fall within the two standard deviations of the mean.

The candlesticks are currently in the bottom half of the Bollinger Bands after it was moving sideways for some time. Recently, the Bollinger bands expanded signifying a possible chance for a trend reversal; however, it failed to climb up. Currently, the Bollinger bands are squeezing together significantly reducing the gap between the lower band and the upper band. There may be a chance that the candlesticks experience a breakout soon.

NEXO Price Analysis – Relative Strength Index (RSI)

The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is regarded as the overbought region, and traders expect the price could fall soon.

The RSI is valued at 40.55 which is closer to the downtrend region. The RSI is also moving closer to the SMA, which could signal a possible bearish crossover. The bearish crossover could further signify that the prices may drop down further. This could make RSI reach the oversold region as sellers overpower the market.

NEXO Price Analysis – Moving Averages Convergence Divergence (MACD)

The Moving Average Convergence Divergence (MACD) indicator can be used to identify potential price trends, momentums, and reversals in markets. MACD will simplify the reading of a moving average cross easier. The MACD indicator is calculated by subtracting the long-term EMA (Exponential Moving Average) indicator from the short-term EMA. Normally, the default values for the MACD are set at 12-day EMA, 26-day EMA, and 9-day EMA. Moreover, MACD is considered a lagging indicator as it cannot provide trade signals without any past price data. 

Earlier, there were red bars forming on the MACD indicator indicating that NEXO may be facing a downtrend for some time. However, recently, minute green bars were formed and showed a stable movement. With the current movement of the MACD, it is too difficult to determine the position of the candlesticks and their upcoming behavior.

NEXO Price Prediction 2023-2030 Overview

NEXO Price Prediction 2023

NEXO is currently trading near the critical support zone at $0.576 after a significant price drop. The current resistance level is at $0.610 as the candlesticks were testing around that point for some time. It is clear that the altcoin is facing a downtrend for some time. There may be a chance that NEXO could climb up in the future if the buyers rally to the altcoins aid.

Meanwhile, the forecast for NEXO remains to be bullish and is expected to reach beyond the level of $1.05. The bearish price prediction for NEXO ranges from $0.508 to $0.478. However, on the off chance, NEXO experiences an extremely bullish sentiment again, there is a high possibility that it trade beyond the level of $1.5.

NEXO Price Prediction – Resistance and Support Levels

Looking at the charts, the candlesticks is currently trading near the support line after facing a subsequent fall. In order to recover, NEXO needs to reach the Resistance 1 level soon. Moreover, the price action movement was mostly observed between Resistance 1 and the support level. For a bullish sentiment, the altcoin needs to significantly trade above Resistance 1. 

NEXO Price Prediction 2024

Traders are looking forward to this year as it could be a historic moment for cryptocurrencies, as the Bitcoin halving is expected to happen in 2024. Most of the time, whenever BTC rises, traders have observed a similar surge in the altcoins. NEXO could also be affected by Bitcoin halving and could trade beyond the price of $5 by the end of 2024.

NEXO Price Prediction 2025

NEXO could still experience the after-effects of the Bitcoin halving and is expected to trade above its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, NEXO will continue to rise in 2025 forming new resistance levels. It is expected that NEXO would trade beyond the $7 level.

NEXO Price Prediction 2026

It is expected that after a long period of bull run, the bears would come into power and start negatively impacting the cryptocurrencies. During this bearish sentiment, NEXO could tumble into its support region of $6. Moreover, when NEXO remains in the oversold region, there could be a price correction soon. NEXO, by the end of 2026, could be trading beyond the $8 resistance level after experiencing the price correction.

NEXO Price Prediction 2027

Naturally, traders expect a bullish market sentiment after the crypto industry was affected negatively by the bears’ claw. NEXO is expected to rise after its slumber in the bear season. Moreover, NEXO could even break more resistance levels as it continues to recover from the bearish run. Therefore, NEXO is expected to trade at $10 by the end of 2027.

NEXO Price Prediction 2028

Once again, the crypto community is looking forward to this year as there will be a Bitcoin halving. Alike many altcoins, NEXO will continue to form new higher highs and is expected to move in an upward trajectory. Hence, NEXO would be trading at $12 after experiencing a massive surge by the end of 2028. 

NEXO Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market would gradually become stable by this year. In tandem with the stable market sentiment and the slight price surge expected after the aftermath, NEXO could be trading at $14 by the end of 2029.

NEXO Price Prediction 2030

After witnessing a bullish run in the market, NEXO and many altcoins would show signs of consolidation and might trade sideways for some time while experiencing minor spikes. Therefore, by the end of 2030, NEXO could be trading at $16.

NEXO Price Prediction 2040

The long-term forecast for NEXO indicates that this altcoin could reach a new all-time high(ATH). This would be one of the key moments as HODLERS may expect to sell some of their tokens at the ATH point. However, NEXO may face a slight fall before starting its upward journey once again. It is expected that the average price of NEXO could reach $27 by 2040.

NEXO Price Prediction 2050

The community believes that there will be widespread adoption of cryptocurrencies, which could maintain gradual bullish gains. By the end of 2050, if the bullish momentum is maintained, NEXO could surpass the resistance level of $51.  

Conclusion

To summarize, if investors continue to show interest in NEXO and add these tokens to their portfolio, then, it could continue to rise up. NEXO’s bullish price prediction shows that it could pass beyond the $1.05 level. Moreover, NEXO could surpass the $51 level by the end of 2050. 

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. CoinEdition and its affiliates will not be held liable for any direct or indirect damage or loss.

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