CKB USDT Nervos Network Technical Analysis

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By Frans van Elst

Nervos Network logo In this Nervos Network technical analysis, we will examine the current price action, trading volume, key levels and indicators for CKB-USDT. Nervos Network is a blockchain-based platform that enables the creation of decentralized applications (dApps) and decentralized finance (DeFi) protocols. Its native cryptocurrency, CKB, powers the network and incentivizes participants to contribute value through proof-of-work (PoW) mining and delegated proof-of-stake (DPoS) validation. With a focus on high performance and security, Nervos Network is poised to become a leading platform for blockchain innovation.

Nervos Network Price Overview:

As of June 18, 2024, Nervos Network is trading at approximately 0.01018 USDT. Let’s dive into the detailed price action for CKB-USDT:

Clearly see potential bearish trend for Nervos Network (CKBUSDT) at 1.02e-02 USDT through detailed technical analysis, highlighting weakened support and cautionary indicators.

Metric Value
Open (O) 0.01182
High (H) 0.01186
Low (L) 0.00989
Close (C) 0.01018
Volume (C) 1,006,485,977.00
  • Open (O): The opening price for today’s trading session was approximately 0.01182 USDT.
  • High (H): Nervos Network reached a daily high of around 0.01186 USDT.
  • Low (L): The daily low for CKB-USDT was approximately 0.00989 USDT.
  • Close (C): At the time of analysis, Nervos Network is trading near its daily close of 0.01018 USDT.
Metric Value
1D Change (%) -13.80%
3D Change (%) -22.58%
7D Change (%) -28.40%
30D Change (%) -33.30%
90D Change (%) -50.27%
YTD Change (%) 160.63%

Over the past three days, CKBUSDT has fallen by approximately -22.58%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -28.40%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with CKBUSDT maintaining a downward trend of approximately -33.30%, despite intermittent fluctuations. Examining the last 90 days, CKBUSDT has witnessed substantial drop of approximately -50.27%, reflecting strong long-term confidence. Year-to-date, CKBUSDT has steadily appreciated by around 160.63%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

Nervos Network Live Chart:

You can access a live price chart for CKB-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 1.19191.
  • Momentum score is -0.39365.

CKB USDT Technical Analysis

Nervos Network Trading Volume:

The trading volume for Nervos Network (CKB) over the past 24 hours has been significant, with approximately 1,006,485,977.00 USDT traded against CKB. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): CKB is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): Nervos Network is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for CKB-USDT is currently in the low zone, around 38.49504. This suggests that Nervos Network is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

Nervos Network (CKB-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.

Clearly see potential bearish trend for Nervos Network (CKBUSDT) at 1.02e-02 USDT through detailed technical analysis, highlighting weakened support and cautionary indicators.

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.

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