- Nexo price aims breakout from $1 resistance amid classic bullish reversal Pattern formation called inverted head and shoulder pattern.
- The daily chart analysis shows a short-term consolidation trend of over 2 months, resonating within the triangle pattern.
- The declining slope of the 200-day exponential moving average indicates a broader trend in this asset remains bearish.
NEXO, the native ERC-20 token of Nexo platform , shows a short uptick of 0.23% during Thursday’s U.S. market hours to trade at $0.09. The surge aligns with broader market recovery as recent talks on U.S. and Iran potential extended the ceasefire agreement has renewed risk-on sentiment among investors. However, the Nexo price gained additional momentum as on-chain data shows a notable surge in NEXO-related taker buy volume, reinforcing the asset’s potential for extended recovery.
NEXO Sees Buyer Surge as Taker Buys Flip Bullish
Nexo’s exchange trading activity has flipped in recent days, wi...
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