- How the CKB Price Has Performed in 2024
- Can CKB Price Repeat the Recent Rally?
- Strong Breakout from Trendline
On September 13, the Nervos Network was listed on South Korea’s largest exchange, Upbit, supporting KRW, BTC, and USDT pairs. It came as positive news for the CKB price, which has not performed well since April.
How the CKB Price Has Performed in 2024
During the initial 4 months of 2024, the Nervos Network (CKB) price surged by 900% and recorded a multi-year high. However, profit booking during the first week of April triggered a price fall. The CKB price declined more than 60%. It has dropped by forming lower lows and lower highs since April. The bearish trend was eventually interrupted near the $0.00700 hurdle, where the price consolidated for a month.
Can CKB Price Repeat the Recent Rally?
After the bearish trend, the CKB crypto price witnessed intense buying pressure. It surpassed the 200-day EMA and then sustained there. That might invite buyers for further momentum, potentially recording a 52-week high. Cryptocurrency analyst Decilizer shared his opinion on X, highlighting the price locking the support level at $0.0091 and forecasting a potential rise to $0.023 supported by increased trading volume.
Strong Breakout from Trendline
Currently, the Nervos Network crypto price trades at $0.0140, with a market capitalization of $627.82 million and a 24-hour trading volume of $902.89 million. According to the technical chart, the CKB price triggered a breakout from a descending trendline, resulting in a one-day 100% surge and a move above the 200-day EMA. Sustaining over key moving averages might gain investors’ attention. Conversely, slipping below the 200-day EMA can anticipate strong selling pressure.
The CKB price has experienced significant volatility and price movements, with a surge in trading volume and price. A recent bullish spike and technical indicators suggest a potential for further upward momentum. However, it’s important to remain cautious, as a drop below certain support levels could lead to increased selling pressure.
