Nervos Network Price Analysis: Will CKB Surge to hit $0.004


  • CKB faces resistance at $0.004.
  • CKB price flashes signs of bearishness on 7-days price chart.
  • Current Nervos Network Price is 0.017 dollars
  • CKB/USD pair trading above EMA(20).

02 May 2024 : In this article we will walk you through Nervos Network price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Nervos Network, Is CKB a good investment? Nervos Network support & resistance levels etc. But before diving deep into the CKB technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,168,422,029,618. The total trading volume stands at $86,516,252,719. Bitcoin shares 52.48 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $57,785.74 level after an upward movement of 0.52%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.31 percent reaching to $2,953.76 during the previous 24 hours.
While publishing this blog, BNB traded at $554.84, following a price change of 0.77% within the same time frame. SOL the native coin of Solana is up by 10.47 and currently trading at $134.00. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Nervos Network Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Nervos Network (CKB)

CKB Resistance Levels CKB Support Levels
Resistance Level 1 $0.004 Support Level 1 $0.004
Resistance Level 2 $0.004 Support Level 2 $0.003
Resistance Level 3 $0.005 Support Level 3 $0.003

Nervos Network Performance

According to PriceAnalysis Market Index, Nervos Network (CKB) is trading at $0.017 with a trading volume of $96,716,400.00. However,CKB has seen a price increase of 3.03% in the last 24 hours.CKB price changes -11.27% over the week with a total market capitalization of $736,658,322.00 USD.

Nervos Network Price Analysis

CKB price analysis for 02 May 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Nervos Network.

Moving Averages Price Indicator
Simple Moving Average (10) 0.004 Buy
Exponential Moving Average (10) 0.004 Buy
Simple Moving Average (20) 0.004 Buy
Exponential Moving Average (20) 0.004 Buy
Simple Moving Average (50) 0.004 Buy
Exponential Moving Average (50) 0.004 Buy

The Relative strength index (RSI) for CKB Coin is currently hovering at 61 for 14-days average line, which means CKB is moving towards overbought zone. The MACD line is standing below of the signal line after a crossover. Nervos Network investors need to wait for any directional change over the daily chart. While CKB’s Williams %R indicator is at -36.412 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.

Conclusions

CKB price is moving in sideways direction. The battle between the bulls and the bears can result in moving the coin price in either direction. However, The investors are waiting for Nervos Network to make a one directional move to make a good entry in the market.