Nexo Tumbles Under Pressure as MiCAR Compliance Focus Shifts
Nexo's compliance shift has kept it in focus as the crypto market closely watches MiCAR's implementation. The company is trading near $0.72 after shifting its attention to compliance strategies within the European Union.
The attention on Nexo comes as it confirmed full MiCAR compliance and announced restructuring and partnerships with regulated German firms Tangany and DLT Finance.
Technical indicators show continued selling pressure, with volatility at 6.24% this week and a MACD direction pointing to sell. The nearest support sits at $0.705, while the Ichimoku Kijun acts as resistance at $0.74.
Nexo is expected to trade between $0.6937 and $0.742 over the next 7 days, with a high probability of further downside unless resistance at $0.74 is decisively cleared.