Nexo Begins Its Third Bull Run; How Long Will It Sustain?

NEXO blockchain was created with the unique idea of collateralizing crypto holdings into fiat-based loans. Since many of these loans are offered at an interest rate, people can take advantage of their borrowing service to take a loan of $50 to $2,000,000 without the need for monthly repayments.

While others can stake their digital assets to earn rewards in the form of the daily interest transferred directly to their payment wallets, the higher range of their interest rates goes up to 16%, which can offer relaxation from consistent cryptocurrency volatility. On top of their staking rewards and discount bonuses, NEXO re-distributed 30% of their profits amongst the NEXO token holders as a form of a dividend. 

The NEXO token is valued at $587,158,766 based on its liquidated supply volumes of 56%. At 100% liquidity based on the current price of $1.03, this platform would be valued at a little over $1 billion.

The recent outstanding gains made by NEXO despite the cryptocurrencies tumbling into the negative stance have further drawn the interest of new cryptocurrency buyers. Considering the negatively trading crypto valuations, there should be a rise in crypto-based loans. Not all tokens are available for staking or digital loans. 

The price of the NEXO tokens has moved up significantly in the last two months, bouncing from $0.5613 to the peak of $1.21. The resistance of $1.10 might keep the value of the NEXO under pressure, but an imminent breakout sentiment is developing for this crypto token. Click here to know more about the price and technical analysis of the NEXO token.

NEXO Price Chart

NEXO token is not any ordinary token; holders get rewarded for keeping this cryptocurrency in their wallets. The support taken from the 50 EMA curve has created a positive scenario for NEXO holders and promoters. NEXO has managed to surpass the 100 EMA curve of $0.99, while the next target of 200 EMA is currently moving at $1.39.

Considering the strong buying action seen in recent days, the probability of NEXO breaching the 200 EMA curve and moving towards new highs is very strong. RSI indicator shows a level of 61 on the histogram, while MACD has just created a bullish crossover to support the uptrending value of NEXO.

On weekly charts, NEXO has once again managed to breach the previous resistance zone after two weeks of negative consolidation. So far, NEXO is moving up with decent gains towards the $1.21 level. Moving above 200 EMA would host a newfound buying rally for this crypto-asset.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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