Nexo (NEXO)

Current price: $ 1.34

24 hours price change: $ 0.001495 (0.11%)


The Average Directional indicator (or ADX) is a directional trading indicator that is used to identify a technical trend, in this case of the Nexo. The trend that is being identified, can be both a positive trend as a negative trend in the pricedevelopment of Nexo.

The ADX was primarily developed for commodities, however it is also in use for stock and currency technical analysis, as well as for Nexo. In this continuously updated article, we will explain the meaning and current trend of Nexo. The current ADX analysis is based on the historical prices of Nexo until June 17th, 2024.

In the chart below, the strength the trend is drawn, as well as the positive and negative directional indicators. The ADX (Average Directional Index) is the black line. The positive directional indicator (+DI) is the green line, and the negative directional indicator (-DI) is drawn in red.

Price chart for Nexo from 12/17/2023 until 06/17/2024.

In the chart above, the development of the price for Nexo is shown for the period from 12/17/2023 until 06/17/2024. This same timeframe has been used in the average directional indicator chart below.

Average directional indicator for Nexo until 06/17/2024.

In the charts above, you can see the trends of the ADX, +DI and -DI. The current values of these three indicators for the Nexo are listed in the table below.

Nexo average directional index 20.30
Nexo positive directional indicator 36.38
Nexo negative directional indicator 43.87


Several signals can be gained from the chart above. First of all, the green line gives us an indication of the positive trend. The opposite line, the red one, indicates the negative trend for Nexo.

When the green line tops the red line, the Nexo is in a positive trend. However, when the situation turns around, the trend has also changed to a negative trend for Nexo.

Furthermore, the black line gives the strength of the current trend of Nexo, both positive and negative. The higher the black line (ADX), the stronger the trend.

Nexo ADX score

The Average Directional Index (ADX) is used to measure the strength or weakness of a trend, not the actual direction. In general, when the positive directional indicator is higher than the negative directional in indicator, the trend of Nexo is assumed to be positive. An important signal is when the -DI (red line) and +DI (green line) crosses over.

As you can see in the chart above, the Nexo follows a negative trend. The positive directional indicator (36.38) is lower than the negative directional indicator (43.87). When the Nexo is in this kind of situations, the trend is negative.

Allthough the trend is negative, the current situation of the trend of Nexo is not that strong. The ADX gives us a value of 20.30, which means that the trend currently followed by Nexo is a weak one. To get clear signals from the ADX for Nexo, you should wait until the ADX moves upwards of 25.

As mentioned, the current trend is negative, however the trend might flip over to a positive trend.


About Us

: Financial indicators for cryptocurrencies