NEXO is currently trading at $0.914363, showing a 24-hour decline of 2.78%. The price has fluctuated between a high of $0.966663 and a low of $0.903436 in the past day, indicating a relatively tight daily range of approximately 6.32%.

The trading volume over the last 24 hours stands at 13,915,000, equating to a volume-to-market cap ratio of 1.52%. This suggests moderate trading activity; however, the price momentum appears bearish with hourly moving averages indicating losses ranging from 3.1% to 6.75% across multiple timeframes.

Technical indicators reveal an oversold condition, with the 1-hour RSI at 28, suggesting immediate selling pressure. Additionally, the 7-day RSI of 43 indicates that the asset remains near the lower end of its trading range, reinforcing the lack of bullish momentum.

From a longer-term perspective, NEXO has faced significant price declines, with a 30-day price change of -21.28% and a 14-day price change of -14.30%. This ongoing downtrend points to weak investor sentiment and increasing uncertainty about price recovery.

Given the proximity to recent lows and the overall bearish trend in both short- and long-term price movements, a cautious approach is warranted. The asset's all-time high of $4.07 in May 2021 contrasts sharply with its current valuation, emphasizing the potential for further downside.

In conclusion, based on the current technical indicators and overall market sentiment, the recommendation for NEXO is to Hold. This strategy allows for the potential to reassess the market if conditions improve, while avoiding additional losses in a downward-trending market.