Nervos Network Price Analysis: Will CKB Price Continue $0.0251?

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  • The price of Nervos Network is trading at  $0.00265731. The coin’s price declined by -0.06% in the last 24 hours.
  •  The Nervos Network price has been observing an increase of -3.21% in the last seven days.
  • The market capitalization of Nervos Network is $88844889.

By evaluating the price data of Nervos Network, it is in a downtrend currently. The price inclined by -3.21% in the last seven days, meaning that Nervos Network is underperforming right now. From its peak price of $0.04370633, it fell -93.92% in the previous two years and demolished the investors’ wealth. However, the current market sentiments could be better right now. No significant volume or buyers are available in the current market condition.

Nervos Network Technical Analysis

EMA

 The price of Nervos Network slipped below 50 and 200 EMA right now. It suggests that the price is in a bearish trend. If the bears continue to push the price downwards, it could fall more in value in the upcoming week if the sellers destroy current support. 

Nervos Network Technical Analysis
RSI

The RSI line has been moving in the oversold zone. The RSI line is around 40.25. The 14 SMA has a value of 41.25 points. It indicates that the Nervos Network market is in the oversold zone.

MACD

 Right now, MACD is giving bearish views. The MACD line is below the signal line, and both the MACD line and the signal line are beneath the zero line hinting at the bearish sentiments about the price.

Trendline Analysis

The price respects the current trendline, but if it breaks the current trendline, then the price of the Nervos Network can continue to fall up to the next support. If it breaks the next support, it can go down more.

Volume Analysis

The Nervos Network trading volume of 24 hours is at $3362833, with a 3.50% increase in volume. There is no such significant boost in the volume of the coin.

Technical Levels

  • Support – The current support level of the Nervos Network is $0.003
  • Resistance –The current resistance level of the Nervos Network is $0.04.

Conclusion

Nervos Network is facing a tough time in the market. The present data and analysis show that it is in the bear’s control. The price action suggests it may fall more in the upcoming days since it broke its primary trendline support level. The price presently shows a pessimistic scenario. Major reliable indicators like EMA, RSI, and MACD give negative signals about the Nervos Network coin. The fear is growing among investors because of the poor performance of the coin. Moreover,  recovery signs are also not visible on the coin.

Disclaimer

The analysis given in this article is for informational and educational use only. Do not use this information as financial, investment, or trading advice. Investing and trading in crypto is a risky task. Please consider your circumstances and risk profile before making any investment decisions.

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