NEXO Technical Analysis Jan 24

NEXO is moving sideways around $0.95, with intraday critical levels forming around $0.9314 support and $0.9512 resistance. Momentum is neutral, BTC correlation carries risk.

Short-Term Market Outlook

As of January 24, 2026, NEXO is exhibiting a sideways market structure at the $0.95 level. Daily change is limited to +0.32%, while today’s range is squeezed between $0.93 – $0.96. Volume is low around $800k, which is a factor limiting volatility. The short-term trend can be defined as sideways; price is holding above EMA20 ($0.94$), which gives a mild bullish signal, but Supertrend is in bearish position and $1.00 resistance forms a strong ceiling.

RSI at 53.89 is in the neutral zone, no overbought-oversold conditions. MACD histogram is positive, with slight momentum improvement but not sufficient for a strong trend change. Total of 14 strong levels detected across 1D, 3D, and 1W timeframes: 2 supports/3 resistances on 1D, 2S/3R on 3D, 3S/3R on 1W. These levels will determine price movements over the next 24-48 hours. No news flow, so technical levels are in focus. Scalp opportunities for active traders are limited, risk management is critical.

Intraday Critical Levels

Nearby Support Zones

The most critical intraday support is $0.9314 (score: 83/100), this is today’s low point and a strong base. In case of breakdown, $0.9475 (70/100) could be tested quickly for invalidation, but the real danger is below $0.9200 (62/100). This level should be used as the first stop-loss point in a 24-48 hour downside scenario. If price slips below $0.93, momentum could turn bearish.

Nearby Resistance Zones

The nearest resistance is $0.9512 (85/100), near today’s high and the point where volume increase is expected. A close above it opens the way to $0.9704 (75/100), but $1.0350 (69/100) is the main target. Due to Supertrend bearish pressure, attacks above $0.96 without a close could be rejected. For scalp traders, monitor the zone between $0.9512 – $0.95.

Momentum and Speed Analysis

Short-term momentum is a neutral-bullish mix: MACD is gaining slight speed with a positive histogram, RSI balanced at 53.89. However, Supertrend is bearish and holding above EMA20 is fragile. Volume is low on 1H and 4H charts for speed analysis, so sudden spikes could be triggers. Over the next 24 hours, consolidation is expected around the $0.95 pivot; speed increases on upside breakout, slows on downside. Risk: False breakouts are frequent, tight stops are mandatory.

Short-Term Scenarios

Upside Scenario

For the bullish scenario, an hourly close above $0.9512 is required (trigger). This brings quick movement to $0.9704, target $1.0350. Invalidation: Slip below $0.9475. Probability 40% with volume increase and MACD divergence confirmation. 5-8% upside potential in 24-48 hours, but BTC pressure is limiting.

Downside Scenario

In the bearish scenario, breakdown of $0.9314 (trigger), tests $0.9200, downside target $0.8660. Invalidation: Recovery above $0.9512. Probability 35% with Supertrend bearish alignment. Expect slow decline on low volume, high risk of sudden stop-hunts.

Bitcoin Correlation

NEXO is a high-correlation altcoin to BTC; BTC is sideways at $89,347 but Supertrend bearish. BTC supports at $88,935, $87,635, $86,420 are critical; breakdown of any triggers cascade effect on NEXO below $0.93. Resistances at $89,684, $90,775, $92,100; if BTC rises, NEXO could climb to $0.97. BTC.Dominance is rising, caution for altcoins: Monitor NEXO’s BTC pair (/cryptocurrencies/spot/NEXO) and futures (/cryptocurrencies/futures/NEXO).

Daily Summary and Monitoring Points

Today to watch: $0.9512 resistance breakout (bull trigger), $0.9314 support hold (bear invalid). Pivot $0.95, volume spikes. Risk: Short-term trades carry high volatility, risk 1-2% of capital. Use tight stops against false breakouts. Sideways dominant in 24-48 hours, BTC movement decisive. Links for NEXO Spot Analysis and NEXO Futures Analysis.