Nervos Network Price Prediction: Can CKB Token Rebound to $0.006?

• Nervos Network Price Prediction highlights the weakness of CKB Coin which lost 92% from an all-time high.
• CKB Coin is 16% below the Daily 200 EMA 
• CKB declined by 35.46% in the last 3 months

Nervos Network Price Prediction suggests CKB Crypto witnessed bear dominance as the prices kept sliding since February. CKB Coin is trading at $0.00314. The Market is up 4.54% in the last 24H. The 24H Volume witnessed a fall of 21.78%. The overall market cap of $CKB Token is $129,745,058.

Nervos Network Price Prediction: Price slithers toward all-time low

On the daily chart, CKB Coin is trapped under bearish grips as the pieces fall. Nervos Network Price is following a downtrend. The market had a good start to the year where the prices jumped almost 190% to the price of $0.00675. Bears began unloading their bags in the month of February and Nervos network prices suffered a loss of 53% since.

Nervos Network Price Prediction gives an idea about the present market conditions of CKB Token. The prices recovered 22% from their direct support of $0.00267. Fears brew in the market as prices crawl toward all-time lows. The recovery can be challenged at the resistance level of $0.0370.

 A Fight to break resistance: Technical Indications

A deep dive at 4H enlightens us with the short-term action of the price. The market appears to be consolidating after a few months of aggressive selling. Bulls struggle with the local resistance of $0.00317. A breakout can welcome a potential move of 15% to the primary resistance.

Technical indicators compliment the price action that represents sideways momentum. CKB Crypto price is trading above 9,15 and 200 EMA. But a breakout of the local resistance can establish a clear uptrend in the short term. The presence of sell pressure may also lead to a further downfall, investors must remain cautious.

RSI: The RSI indicator is currently at 63.57 on the 4H. This represents strength in the market and the prices may continue to rise as long as the value stays above 50.

MACD: The MACD is moving above 0 line which suggests bullish price action however the histograms are small which is a sign of missing momentum.

200 EMA: As observed, on the 4hr, the price barely crossed the 200 EMA. It would be better to wait for the prices to move away from the indicator to establish a strong trend.

Conclusion:

Nervos Network Price Prediction suggests CKB Crypto witnessed bear dominance as the prices kept sliding since February. The Market is trying to recover from the primary support. Market dwells under the fear of further downfall. Technical indicators are pointing at consolidation. Investors may get lured by the discounted prices but should follow a sound strategy to minimize risk.

Technical levels

Support Levels: $0.00267- Support 1

    $0.00204- Support 1

Current Price: $0.00314

Resistance Levels: $0.00370 – Resistance 1

          $0.00455 – Resistance 2

Disclaimer:

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.