NEXO Technical Analysis: Growth Within Wedge Tease Bullish Breakout

The NEXO coin price jumps within the falling wedge pattern but struggles to reach the top. Will this sudden growth give a bullish rally above the $2 mark? Nexo was created by a group of crypto enthusiasts and finance professionals. They used blockchain to build the cryptocurrency equivalent to an established service in traditional finance. But it remains absent in digital finance borrowing against the value of your assets while maintaining the ownership. Nexo is a blockchain-based lending platform that offers users instant cryptocurrency-backed loans. The users deposit a cryptocurrency like Bitcoin, Ether, Litecoin, or XRP as collateral in order to get an amount of money that is in an unofficial currency or stablecoin. Let us move ahead to read about Nexo technical analysis. Past Performance of NEXO The NEXO coin price grows more than 10% in the past 24 hours as it spikes within the falling wedge pattern in the daily chart. The coin price struggles to rise above the $12.5 horizontal zone despite the solid bullish engulfing candlestick. However, the increased trend momentum might soon result in a lower price rejection to reach the resistance trendline. NEXO/USD Daily Chart NEXO Technical Analysis The NEXO coin price action shows the formation of lower highs within the falling wedge pattern reflecting a subtle rise in underlying bearishness. However, with the greed back in the crypto market, the bulls might soon overtake the sel...