Nexo Credit Initiative Fuels $1.25 Price Target

Nexo's new $200 million crypto-backed credit initiative is driving bullish sentiment among traders, with the token's price hovering NEAR $1.21. Technical analysis points to $1.20 as critical support, while resistance looms at $1.25—a level that could confirm upward momentum if breached.

The program allows customers to access liquidity without selling crypto assets, targeting high-value purchases like real estate. Futures trading interest has surged 11.5%, reflecting market confidence in Nexo's bridging of crypto and traditional finance.

VWAP indicators currently show seller dominance at $1.213, but Fibonacci levels suggest potential breakout targets at $1.30 and $1.41. The $1.20 support remains the line in the sand—any breakdown here WOULD invalidate the recovery thesis.