In new technical analysis, the Nexo blockchain network provides professional banking services for digital currencies. Nexo has harnessed its team’s robust experience in fintech services to introduce a structured financial system for transacting in crypto assets. It also aims at <a href="https://www.cryptoknowmics.com/news/crypto-lender-nexo-sued-for-unlawful-suspension-of-xrp-cause-5-million-damage/">eliminating inefficiencies</a> in lending markets. NEXO is the prime governance token of this ecosystem.
<h2><b>Past Performance</b></h2>
On April 13, 2021, NEXO opened at $3.22. As of April 19, 2021, NEXO closed at $3.34. Thus, in the past week, the price has surged by approximately 4%. In the last 24 hours, NEXO has traded between $3.21-$3.46.

<img class="alignnone wp-image-194297" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2021/04/NEXO-300x182.png" alt="NEXO Price Analysis" width="710" height="431" />

<a href="https://s3.tradingview.com/snapshots/8/8R6CD4Vv.png">https://s3.tradingview.com/snapshots/8/8R6CD4Vv.png</a>
<h2><b>Day-Ahead and Tomorrow</b></h2>
Currently, NEXO is trading at $3.25. The price has steadily decreased since morning. Thus, the market looks bearish.

The <strong>MACD and signal lines</strong> are negative. A bearish crossover by the MACD line over the signal line has occurred too. Thus, the overall market momentum is bearish. Hence, we can expect the price to drop further.

The <strong>OBV indicator</strong> has fallen steeply too. Thus, the selling volumes are much higher than buying volumes. High sell-offs are likely to exert downward pressure on the NEXO price. Thus, like the MACD indicator, the OBV indicator is also pointing towards a further price dip.

Currently, the <strong>RSI indicator</strong> is at 25%. It is in the ‘oversold’ region indicating high selling pressures. Thus, heavy offloading activity will push the price further down. Thus, all three oscillators have given bearish signals.
<h2><b>NEXO Technical Analysis</b></h2>
As per technical analysis, presently, the NEXO price is below the first Fibonacci pivot support level of $3.24. As the bearish forces are strong, we can expect the price to fall below the subsequent support levels of $3.18 and $3.09 respectively, in some time.

The price has tested and fallen below the <strong>23.6% FIB retracement level</strong> of $3.26. It may soon fall below the <strong>23.6% FIB extension level</strong> of $3.15. Thus, the bearish trend is strong and likely to continue today and tomorrow as well.

NEXO Technical Analysis - Expect Price to Fall Below Levels $3.18 and $3.09

In the NEXO technical analysis, it tested and fell below the 23.6% FIB retracement level of $3.26. It may fall below the 23.6% FIB extension level of $3.15.

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

NEXO Technical Analysis - Expect Price to Fall Below Levels $3.18 and $3.09

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