NEXO (NEXO) Price Prediction 2022 – Will NEXO Hit $5 Soon?

• Bullish NEXO price prediction is $1.117 to $2.536.
• The NEXO price will also reach $5 soon.
• Bearish NEXO price prediction for 2022 is $0.550.

In NEXO (NEXO) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about NEXO to analyze the future movement of the cryptocurrency. 

NEXO (NEXO) Current Market Status

According to CoinGecko, the price of NEXO (NEXO) is $0.972286 with a 24-hour trading volume of $7,098,784 at the time of writing. However, NEXO has DEcreased to 2.2% in the last 24 hours. 

Moreover, NEXO (NEXO) has a circulating supply of 560,000,010  NEXO. Currently, NEXO trades in cryptocurrency exchanges such as Binance, Deepcoin, BingX, Bybit, and MEXC. 

What is NEXO (NEXO)?

N|exo is a blockchain-based lending platform that offers users instant cryptocurrency-backed loans. Nexo has a native token, NEXO, that when locked in the platform grants users benefits such as discounts on interest accumulated on loans and the opportunity to receive interest payments on funds deposited. Token holders also receive dividends from Nexo’s profits. Nexo is marketed to individual and institutional investors, cryptocurrency companies, exchanges, miners, and others who want liquidity from their assets. Nexo seeks to build a user base of clients that continue using the platform and remain invested in NEXO. 

NEXO (NEXO) Price Prediction 2022

NEXO (NEXO) holds the 86th position on CoinGecko right now. NEXO price prediction 2022 is explained below with a daily time frame.

An ascending channel is defined as the price action contained between two parallel upward-sloping lines. This price pattern is distinguished by higher highs and lower lows. An ascending channel is created by drawing a lower trend line that connects the swing lows and an upper channel line that connects the swing highs.

Price does not always remain entirely formed within the parallel lines of an ascending channel, but instead shows areas of support and resistance that traders can use to set stop-loss orders and profit targets. A breakout above an ascending channel may indicate a continuation of the upward trend, whereas a breakdown below an ascending channel may indicate a change in trend.

Currently, NEXO (NEXO) is at $0.972286. If the pattern continues, the price of NEXO might reach the resistance level of $1.060, and $1.738. If the trend reverses, then the price of NEXO may fall to $0.834, $0.701, and $0.572.

NEXO (NEXO) Support and Resistance Level

The chart below shows the support and resistance levels of NEXO (NEXO).

From the above daily time frame, we can clearly interpret the following as the resistance and support levels of NEXO (NEXO).

Resistance Level 1	$1.117
Resistance Level 2	$1.766
Resistance Level 3	$2.536
Support Level 1	$0.821
Support Level 2	$0.550

The charts show that NEXO has performed a bullish trend over the past month. If this trend continues, NEXO might run along with the bulls overtaking its resistance level at $2.536.

Accordingly, if the investors turn against the crypto, the price of the NEXO might plummet to almost $0.550, a bearish signal.

NEXO (NEXO) Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of NEXO (NEXO) is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of NEXO lies below the cutoff line, indicating weak participants in the current trend.

Moreover, the Moving Average (MA) of NEXO (NEXO) is shown in the above chart. Notably, the NEXO price lies above 50 MA (short-term), so it is completely in an upward trend. Currently, NEXO is in a bullish state. There is a possibility of a reversal trend of NEXO at any time.

Meanwhile, the relative strength index (RSI) of the NEXO is at a level of 61.22. This means that NEXO is nearly in an overbought state. However, this gives confidence to the traders to trade without any fear.

NEXO (NEXO) Price Prediction 2022 — ADX, RVI

Let us now look Average Directional Index (ADX) of NEXO (NEXO). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

The above chart represents the ADX of NEXO (NEXO). Currently, NEXO lies in the range of 52.9321, so it indicates a strong trend. 

From the above chart, the Relative Volatility Index (RVI) of NEXO (NEXO). RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of NEXO lies below 50, indicating low volatility. In fact, NEXO’s RSI is at 61.22, thus confirming a potential sell signal.

Comparison of NEXO with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and NEXO (NEXO).

From the above chart, we can interpret that ETH, BTC, and NEXO are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and NEXO increases or decreases respectively.

NEXO (NEXO) Price Prediction 2023

If the declining price action completely slows down in momentum and the trend reverses,  NEXO (NEXO) might probably attain $7 by 2023.

NEXO (NEXO) Price Prediction 2024

With several upgrades in the network, NEXO (NEXO) might enter a bullish trajectory. If the coin grabs the attention of major investors, NEXO might rally to hit $11 by 2024. 

NEXO (NEXO) Price Prediction 2025

If NEXO (NEXO) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, NEXO would rally to hit $14.  

NEXO (NEXO) Price Prediction 2026

If NEXO (NEXO) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, NEXO would rally to hit $18. 

NEXO (NEXO) Price Prediction 2027

If NEXO (NEXO) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, NEXO would rally to hit $22. 

NEXO (NEXO) Price Prediction 2028

If NEXO (NEXO) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2028, NEXO would hit $26.

NEXO (NEXO) Price Prediction 2029

If investors flock in and continue to place their bets on NEXO (NEXO), it would witness major spikes. NEXO might hit $31 by 2029.

NEXO (NEXO) Price Prediction 2030

With greater advancements in NEXO ecosystem, the crypto community might continue to invest in NEXO (NEXO) for the next 8 years and drive significant price rallies for the token. Hence, NEXO (NEXO) might hit $35 by 2030.

Conclusion

With continuous improvements in NEXO network, we can say that 2022 is a good year for NEXO. For this reason, the bullish price prediction of NEXO (NEXO) in 2022 is $2.536. On the other hand, the bearish price prediction of NEXO (NEXO) for 2022 is $0.550.

Furthermore, with the advancements and upgrades in NEXO ecosystem, the performance of NEXO (NEXO) would rise to reach above its new all-time high (ATH) of $4.07 very soon. But, it might also reach $5 if the investors believe that NEXO is a good investment in 2022.

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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not interpret as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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