In this NKN technical analysis, we will examine the current price action, trading volume, key levels and indicators for NKN-USDT. NKN is a decentralized network that enables secure and efficient data transfer, empowering individuals and organizations to build and deploy their own applications. With its innovative consensus algorithm and interoperable architecture, NKN aims to provide a seamless experience for users across various platforms. By leveraging blockchain technology, NKN is poised to revolutionize the way we interact with data and connect with one another.
NKN Price Overview:
As of May 11, 2024, NKN is trading at approximately 0.1128 USDT. Let’s dive into the detailed price action for NKN-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.113 |
| High (H) | 0.1146 |
| Low (L) | 0.1111 |
| Close (C) | 0.1128 |
| Volume (C) | 4,240,794.00 |
- Open (O): The opening price for today’s trading session was approximately 0.113 USDT.
- High (H): NKN reached a daily high of around 0.1146 USDT.
- Low (L): The daily low for NKN-USDT was approximately 0.1111 USDT.
- Close (C): At the time of analysis, NKN is trading near its daily close of 0.1128 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -0.18% |
| 3D Change (%) | -4.00% |
| 7D Change (%) | -5.92% |
| 30D Change (%) | -38.29% |
| 90D Change (%) | 1.35% |
| YTD Change (%) | 0.80% |
Over the past three days, NKNUSDT has decreased by approximately -4.00%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -5.92%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with NKNUSDT maintaining a downward trend of approximately -38.29%, despite intermittent fluctuations. Examining the last 90 days, NKNUSDT has witnessed substantial increase of approximately 1.35%, reflecting strong long-term confidence. Year-to-date, NKNUSDT has steadily appreciated by around 0.80%, 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 0.47849.
- Momentum score is -0.14481.
NKN USDT Technical Analysis
NKN Trading Volume:
The trading volume for NKN (NKN) over the past 24 hours has been insignificant, with approximately 4,240,794.00 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 below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): NKN is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for NKN-USDT is currently in the low zone, around 43.12163. This suggests that NKN is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
NKN (NKN-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 insignificant trading volume are low signals for potential downward movement.
Consider bearish sentiment for NKN (NKNUSDT) at 1.13e-01 USDT as technical analysis emphasizes weakened support and cautionary indicators for potential downturns.
Explore more with our thorough insights on NKN BTC NKN Technical Analysis — an essential read if you enjoyed the content of this post.
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.