NEXO Flashes a Signal That Preceded 150% and 65% Rallies in 2023
BeInCrypto
NEXO is showing a cooling volume signal that historically preceded significant price rallies in 2023, though current market conditions remain uncertain.Summary
Analyst Darkfost has identified a cooling volume signal on NEXO, suggesting that selling pressure is weakening as the token trades near yearly lows. This specific technical pattern previously occurred in May and September 2023, leading to price rallies of 150% and 65%, respectively. However, the analyst cautions that current geopolitical and macroeconomic tensions differ from 2023, meaning the signal requires confirmation through increased buying volume and stronger price momentum before a sustained recovery can be guaranteed.
(Source：BeInCrypto)