The Nervos Network price surged 17% in the last 24 hours to trade at $0.01841, fueled by a 351% pump in trading volume to $678 million.
Nervos Network Price Spike
This price spike has contributed to a 113% surge over the past week, fueled by its recent listing on the Upbit crypto exchange. According to CoinMarketCap, the daily price surge made Nervos Network the top gainer among the top 100 cryptocurrencies by market capitalization.
Nervos Network Price Technical Analysis
The CKB/USD price action displays a clear uptrend on a 4-hour timeframe, currently trading at $0.01813 within a well-defined bullish channel. Strong support is identified near the $0.01500 level, aligned with the lower boundary of the channel. The 50 simple moving average (SMA) at $0.01311 offers immediate support, while the 200-SMA at $0.00960 indicates strong upward momentum over the short to mid-term. The MACD indicator is in bullish territory, signifying continued upward momentum. Meanwhile, the RSI is trading at 67.29, approaching the overbought threshold of 70.
Nervos Network Price Forecast
The technical indicators show strong bullish momentum, with potential for further upside as long as the price stays within the bullish channel. The current resistance is at $0.01813. However, the RSI suggests that the market is nearing overbought conditions, crucial for short-term trading strategies. Any retracement could find support at $0.01500 or the 50-SMA at $0.01311.
The price surge of Nervos Network indicates strong investor interest. It is important to monitor technical indicators to assess upcoming price movements.
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