The crypto market has been performing very well over the past 24 hours. Bitcoin created a new all-time high above $67K, and most altcoins are following this rally and pushing towards new heights. NEXO is among the leading gainers during this period, having made double-digit gains that are inching it closer to its record highs.
NEXO is trading at $2.23 at the time of writing having made a 23% gain in 24 hours.
NEXO Price Analysis
NEXO has been on a major uptrend over the past day, which has resulted in the creation of new highs. The altcoin has surpassed large cap coins in terms of gains made over the past 24 hours.
The current gains have pushed NEXO to new monthly highs. This month alone, the coin has gained by around 55%. The broader market shows signs of strong support, hence we could see this altcoin holding these gains and pushing towards higher levels.
In case of an uptrend, NEXO could test the upper resistance of $2.50. This resistance is yet to be tested during the past 24 hours, but if the uptrend holds, it will be tested soon before the next target level is set at $2.30. Major jumps towards $2.50 are also possible if buyer and market support remain strong.
On the other hand, we could also see NEXO heading towards a price dip. In this case, the altcoin will test the lower support level of $2.20 and $2.15. Dipping towards $2 while the rest of the market shows support could trigger dip-buying leading to more bullish gains.
The Nexo blockchain is a lending platform for digital assets, and it recently received a cease and desist order from the New York Attorney General’s office to shut down its lending services in the city. This was after the firm was found to be non-compliant with the crypto regulatory laws in New York.
Where to Buy NEXO
To buy NEXO during the current bulls, you can create an account on the following platforms:
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One can buy NEXO tokens from Huobi Global. Huobi is one of the largest cryptocurrency exchange platforms and has a broad range of offerings. Huobi is also a friendly exchange that supports features that make it easy for traders to use the platform.
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