In this NKN technical analysis, we will examine the current price action, trading volume, key levels and indicators for NKN-USDT. Here are three sentences about NKN (NKN) cryptocurrency: 1. NKN is a decentralized blockchain network that enables secure and efficient data transfer and storage, with a focus on privacy and scalability. 2. NKN utilizes a novel consensus algorithm called “nano-block” to achieve high transaction throughput and low latency, making it suitable for real-world applications such as IoT devices and financial services. 3. NKN’s innovative data storage solution, called “data pruning,” allows for efficient data storage and retrieval, ensuring that only the most recent and relevant data is stored on the network.
NKN Price Overview:
As of October 02, 2023, NKN is trading at approximately 0.0873 USDT. Let’s dive into the detailed price action for NKN-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.0915 |
| High (H) | 0.0922 |
| Low (L) | 0.0834 |
| Close (C) | 0.0873 |
| Volume (C) | 19,940,235.00 |
- Open (O): The opening price for today’s trading session was approximately 0.0915 USDT.
- High (H): NKN reached a daily high of around 0.0922 USDT.
- Low (L): The daily low for NKN-USDT was approximately 0.0834 USDT.
- Close (C): At the time of analysis, NKN is trading near its daily close of 0.0873 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -4.49% |
| 3D Change (%) | 0.69% |
| 7D Change (%) | 2.46% |
| 30D Change (%) | 1.87% |
| 90D Change (%) | -15.32% |
| YTD Change (%) | 11.21% |
Over the past three days, NKNUSDT has risen by approximately 0.69%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 2.46%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with NKNUSDT maintaining an upward trend of approximately 1.87%, despite intermittent fluctuations. Examining the last 90 days, NKNUSDT has witnessed substantial decrease of approximately -15.32%, reflecting strong long-term confidence. Year-to-date, NKNUSDT has steadily appreciated by around 11.21%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
NKN Live Chart:
You can access a live price chart for NKN-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 0.49204.
- Momentum score is 0.01867.
NKN USDT Technical Analysis
NKN Trading Volume:
The trading volume for NKN (NKN) over the past 24 hours has been significant, with approximately 19,940,235.00 USDT traded against NKN. 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): NKN is currently trading above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): NKN is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for NKN-USDT is currently in the neutral zone, around 48.77857. This suggests that NKN is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
NKN (NKN-USDT) is currently exhibiting signs of short-term bullish 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 neutral RSI and significant trading volume are neutral signals for potential sideways movement.
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.
