NEXO price prediction: will US market return drive rally to $2?
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NEXO token surged to a high of $1.358 following the news of the re-entry of the NEXO platform into the US market, and although it has slightly pulled back to around $1.22, the market sentiment remains highly bullish.
This price surge adds to the over 18% rise in the past week, making the altcoin a centre of attention for traders/investors looking for the next best crypto to buy.
NEXO’s re-entry into the US market
On April 28, Nexo announced its much-anticipated return to the United States during an exclusive business event attended by high-profile figures, including Donald Trump Jr.
The company’s renewed US strategy will offer both retail and institutional clients high-yield crypto savings accounts, asset-backed credit lines, sophisticated trading options, and institutional liquidity services.
This comeback follows a partial exit in late 2022 after regulatory uncertainties culminated in a $45 million SEC settlement and a cease-and-desist order from the California Department of Financial Protection and Innovation.
After more than eighteen months of good-faith discussions with state and federal regulators that reached an impasse, Nexo significantly modified its business model to align with compliance requirements and investor protections.
The presence of Donald Trump Jr. at the reentry announcement underscored the importance of clear regulatory frameworks for cryptocurrencies and provided a bullish narrative that resonated with investors.
However, Nexo’s renewed US offerings will be rolled out in phases, beginning with institutional liquidity solutions to build trust and demonstrate compliance before expanding to retail savings products.
Strategic partnerships with banking entities and custodians have been established to ensure custodial security and regulatory adherence as Nexo scales its US operations.
Nexo’s partnership with local banking and custody providers has been a key component of its US strategy to ensure smooth on- and off-ramps for new users.
Notably, Nexo’s reentry into the US market comes amid a broader trend of major crypto platforms such as OKX and Pantera increasing their domestic presence, highlighting a shift in industry sentiment toward American regulators.
By addressing past regulatory concerns and proactively adapting its services, Nexo aims to differentiate itself from the failed models of BlockFi, Celsius, and Voyager and reestablish credibility among US customers.
NEXO price forecast: assessing the $2 price target
From a technical perspective, immediate resistance lies in the $1.24–$1.25 zone and the next upside target sits at $1.37, with a breakout above that level potentially clearing the way toward $2.
Should Nexo breach the $1.37 threshold, it will face additional resistance near $1.47 and $1.53 before testing psychological barriers around the $2 mark in the medium term.
On the daily chart, the Moving Average Convergence Divergence (MACD) recently crossed bullishly, signalling building momentum, although the Relative Strength Index (RSI) hovers near 68 and edges toward overbought territory.
Although the token’s circulating supply of one billion and a 24-hour trading volume exceeding $29 million provide sufficient liquidity to support upward price movement, the broader market conditions will influence sustained gains.
Despite today’s rally, Nexo remains approximately 70% below its all-time high of $4.07 recorded on May 12, 2021, which underscores both its volatility and long-term upside potential.
Also, comparisons with peers such as Celsius and BlockFi serve as cautionary tales that highlight the importance of operational transparency and risk management in achieving sustained price growth.
External variables such as Federal Reserve interest rate decisions, evolving US regulatory policies, and overall cryptocurrency market sentiment will play critical roles in facilitating or hindering Nexo’s advance toward $2.
However, investor attention on quarterly updates regarding US account sign-ups and regulatory feedback could act as catalysts for additional buying pressure if the company demonstrates progress and compliance.
A successful reentry into the US market could unlock fresh capital inflows and expand its depositor base, providing the fundamental backbone needed for a potential rally to the coveted $2 level.
However, lingering regulatory scrutiny, macroeconomic headwinds, and potential profit-taking by short-term traders may introduce volatility and prompt periods of consolidation before any extended rally.
Ultimately, a convergence of technical strength, strategic regulatory wins, and positive market sentiment will determine whether Nexo can realistically reach and sustain a $2 price tag, representing a roughly 64% gain from current levels.
The post NEXO price prediction: will US market return drive rally to $2? appeared first on Invezz
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