|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Nervos Network (CKB) Price Prediction: CKB Crypto Hints a Bullish Reversal as Technical Indicators Reverse to the Bullish Side
Sep 21, 2024 at 05:22 pm
Nervos Network (CKB) has caught investors’ attention with its impressive growth over the past year. Despite the recent fluctuations, the token has delivered substantial returns to them.
The impressive growth of Nervos Network (CKB) over the past year has drawn the attention of investors, and despite recent fluctuations, the token's price action, technical indicators, and market performance suggest a shift in momentum. All these signals point out that the CKB price can see potential bullish trends in the near future.
Related articles
A glance at the CKB crypto market trend over the past year reveals a remarkable performance, with a gain of 470% that has rewarded its investors with significant profits. The token was trading at $0.01606 at the time of writing, showing a 7.8% decrease within 24 hours. Despite this dip, CKB has maintained a strong position in the cryptocurrency market.
The CKB crypto ranked as the 87th largest cryptocurrency by market capitalization. With a market cap of $721.672 Million, the token held a market dominance of 0.03%. This level of market presence highlighted the significance of the token within the broader crypto ecosystem.
CKB's supply inflation rate has advanced to 6.33%, a medium-level inflation rate. This increase has led to a circulating supply of 44.932 billion CKB tokens. This has pushed the fully diluted market capitalization to $639.123 Million.
Despite its strong market standing, the CKB price has experienced notable fluctuations. The token's volatility rate was 32.48%, suggesting a somewhat unpredictable price movement.
Investor sentiment appears neutral, with the Fear and Greed Index at 54. It indicated neither a particularly optimistic nor pessimistic outlook.
Derivatives market sees a decline in trading activity
The open interest in the CKB crypto experienced a notable decline of over 15%. This dropped to a value of $68.0 Million. This decrease signaled a waning interest among investors and traders, reflecting a shift in sentiment toward the token.
Additionally, the CKB crypto saw a significant reduction in its trading volume, plummeting by 32% to $130.364 Million. Despite this, the token maintained strong liquidity, as indicated by its volume-to-market cap ratio of 19.71%. It highlighted the continued ease of trading.
However, while the spot market witnessed a surge in volume, derivatives volume dropped by 24% in the last 24 hours. It still amounted to a substantial $235.97 Million. This shift in volume suggested a cooling off in derivatives trading activity.
Furthermore, long and short liquidations in CKB were recorded at $383.29K over the past 24 hours. This indicated a tug-of-war between buyers and sellers, contributing to the price dynamics during the period.
Where does CKB token stand on technical charts?
The crypto has surged by over 150% in the past 15 days, marking a significant recovery. Despite this impressive rally, the CKB price had followed a strong downtrend. This was characterized by the formation of lower lows on the chart.
Recent price action, however, suggested a shift in momentum. The token's price structure showed signs of a bullish reversal, supported by establishing key support levels at lower price points. This newfound stability has provided a solid foundation for the token's potential upward movement.
Additionally, the CKB price broke through crucial “change of character” levels, signaling a turning point in its trajectory. This breakout was accompanied by a surge in trading volume, reinforcing the strength and reliability of the upward trend. The rising volume and price action combination suggested a more bullish outlook for the token.
Technical indicators reversing to bullish side on CKB chart
The 50-day and 200-day EMAs formed a death cross. Despite this, the CKB crypto price broke out above these moving averages. This breakout signaled a potential shift in momentum, increasing the likelihood of a golden cross in the near future.
CKB/USD Chart by TradingView.com
Technical indicators were reinforcing this bullish outlook. The MACD indicator has flashed a strong buy signal, with both the MACD line and the signal line advancing into bullish territory. Additionally, the histogram showed consistent bullish formations, further confirming the positive trend.
The RSI has also surged into the overbought zone, trading at 77.17 at the time of writing. A breakout above the 14-day SMA accompanied this rise. It suggested a continuation of bullish price momentum in the near term.
In terms of support and resistance levels, the CKB price may find support at $0.00280 and $0.00620. In contrast, resistance is expected at $0.020 and $0.0340. These levels will likely be crucial in determining the token's next move.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Rollblock (RBLK): The Latest GambleFi Sensation Capturing the Attention of SOL and LTC Holders
- Sep 21, 2024 at 08:25 pm
- Rollblock, currently in its 6th presale stage, is trading at $0.027 and has already raised nearly $3.6 million. With predictions of a 200x surge in 2024
-
- Is XRP Price Breakout Finally Here? Key Levels to Watch
- Sep 21, 2024 at 08:25 pm
- In a recent video, More Crypto Online discusses how XRP has been moving sideways within the larger sideways correction. He highlighted the potential for a breakout
-
- Cryptocurrency Analyst Benjamin Cowen Forecasts That Ethereum (ETH) Could Be in the Process of Carving Cycle Lows Against Bitcoin (ETH/BTC)
- Sep 21, 2024 at 08:25 pm
- In a video update, Cowen tells his 813,000 YouTube subscribers that based on historical precedent, the bottom for the Ethereum/Bitcoin pair is close at hand.
-
- Harris or Trump: Which U.S. Presidential Candidate Is Best for Bitcoin?
- Sep 21, 2024 at 08:25 pm
- As the 2024 U.S. presidential election approaches, the cryptocurrency sector is closely monitoring how each candidate might impact Bitcoin and the wider digital asset market.
-
- RCO Finance: The Next Big Thing in DeFi
- Sep 21, 2024 at 08:25 pm
- The market is showing some signs of full recovery, and according to market predictions, the altcoin season may be sooner than expected.
-
- Ethereum (ETH) Is Not the Best Solution for Payments, Says PayPal's Jose Fernandez da Ponte
- Sep 21, 2024 at 08:25 pm
- Speaking at the Solana Breakpoint 2024 conference, Ponte brought attention to Ethereum's inability to handle a high volume of transactions
-
- BONK Announces U.S. Launch of Its Exchange-Traded Product (ETP), a Meme Coin Milestone
- Sep 21, 2024 at 08:25 pm
- BONK's price surged 6.66% after the ETP announcement, signaling strong investor interest. BONK forms a falling wedge pattern, indicating a potential bullish breakout of 79.81%.
-
- BTC Is Back on Track, But These 4 Altcoins Go For 5,000% Returns in November 2024
- Sep 21, 2024 at 08:25 pm
- Bitcoin is regaining momentum, but the spotlight now shifts to four altcoins poised for staggering gains next November. While BTC steadies its course, these lesser-known digital currencies show potential for explosive returns. Curious investors will want to discover which coins are set to skyrocket, promising impressive profits in 2024. Stay tuned to uncover these hidden gems.
-
- Bitcoin Burgers and Secret Service Snipers: Inside Donald Trump's Visit to Crypto Tavern PubKey
- Sep 21, 2024 at 08:25 pm
- Former lawyer Thomas Pacchia opened PubKey two years ago, envisioning the West Village dive located just a few blocks from Washington Square Park as a civic tavern of sorts.