⚠️ Nexo’s Uncertain Path: Will $NEXO Hold Above $1? 😬
$NEXO is struggling to gain traction, hovering just below the $1 mark at around $0.97. While the token saw some stability in early September, the overall picture remains bearish. The moving averages (SMA 7, 25, and 99) are sloping downward, indicating that the downtrend is still alive. With $$NEXO ailing to break above its 99-day moving average of $1.02, the bulls are clearly having a tough time pushing this token higher. 📉
The MACD shows weak momentum, with the lines still below zero and a shrinking histogram—signaling more downside pressure. Volume has also remained relatively low, confirming that buyers aren’t stepping in to reverse the trend just yet. If NEXO fails to hold above $0.95, the next stop could be $0.90 or even lower in the coming days.
Unless there’s a significant uptick in volume or a strong bullish catalyst, it looks like NEXO could continue to slide. For now, traders should remain cautious, as the short-term outlook remains dim. 😕