NEXO is currently trading at $0.9653, reflecting a 2.39% increase over the last 24 hours. The price action has remained relatively stable within a daily range of $0.0381, with a 24-hour high of $0.9778 and a low of $0.9397, indicating tight consolidation around the current price level.

Volume over the past 24 hours stands at approximately 12.44 million, which represents a volume-to-market cap ratio of 1.29%. This suggests that while trading activity has increased, it remains modest relative to the overall market capitalization, potentially indicating lower investor interest at this price point.

From a technical perspective, short-term moving averages are showing positive momentum, with the 8 SMA at $0.9650 reflecting a slight upward trend of 0.03%. Meanwhile, longer-term averages like the 55 SMA at $0.9453 and 144 SMA at $0.9296 indicate stronger support levels, with increases of 2.11% and 3.85%, respectively, reinforcing the potential for a bullish reversal.

The 1-hour RSI is at 59, suggesting that NEXO is approaching overbought territory, while the 7-day RSI at 51 indicates a neutral momentum phase. However, both the 7-day and 14-day price changes are negative, with declines of 0.0973% and 12.92%, respectively, indicating that the asset is under pressure over a longer timeframe, despite recent short-term gains.

Given the substantial distance from its all-time high of $4.07 reached in May 2021, NEXO is currently trading at about 76.3% lower than that peak. The lack of bullish momentum in the 7-day and 30-day price changes suggests that upward price movement may face significant resistance, even if short-term indicators are supportive.

In summary, while NEXO shows short-term bullish signals, the overall trend remains bearish over longer periods, coupled with declining momentum. Therefore, the recommendation is to Hold NEXO, as potential upward movement may be limited without a sustained increase in volume and broader market support.