NEXO is currently trading at $0.90828, reflecting a slight decline of -0.67% over the past 24 hours. The price has remained relatively stable within a daily range of $0.018351, with a high of $0.918433 and a low of $0.900082, indicating limited volatility in the short term.

Volume stands at approximately 6.18 million, representing a volume-to-market cap ratio of 0.68%, which suggests moderate trading activity relative to its market capitalization. The hourly moving averages indicate a bearish sentiment, with the 55 SMA at $0.9197 and the 144 SMA at $0.9236 showing a decline of 1.24% and 1.66% respectively, further confirming the lack of upward momentum.

The Relative Strength Index (RSI) is currently at 48 for both the 1-hour and 7-day periods, which indicates a neutral market condition without strong buying or selling pressure. However, the longer-term price changes reveal a negative trend, with a 14-day decrease of -4.91% and a 30-day drop of -3.73%, suggesting that the asset may be facing ongoing bearish sentiment.

NEXO’s all-time high stands at $4.07, recorded on May 12, 2021, highlighting a significant drawdown from its peak value. Given the current price action, neutral RSI levels, and the overall bearish trend, there appears to be insufficient momentum for a bullish reversal in the near term.

Based on the analysis of price action, moving averages, and RSI metrics, the recommendation for NEXO is to Hold. The asset lacks clear buy signals, and while it may stabilize in the short term, significant resistance exists above the current price level that needs to be overcome for a bullish outlook.