What's next for Nervos Network?
Key Takeaways
- Nervos Network’s CKB token jumped after the release of RGB++.
- The coin had a negative 2023 but jumped in February, April, and September 2024.
- One price prediction says CKB may reach $0.0311 next year.
Let’s take a look at our Nervos Network price predictions, made on Sept. 16, 2024. We will also examine the Nervos Network price history and talk a little about what Nervos Network is and what it does.
Nervos Network Price Prediction
Let’s examine some of the Nervos Network price predictions CCN made on Sept. 16, 2024. It is crucial to remember that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate.
| Minimum CKB Price Prediction | Average CKB Price Prediction | Maximum CKB Price Prediction | |
|---|---|---|---|
| 2024 | $0.04 | $0.049 | $0.058 |
| 2025 | $0.01 | $0.012 | $0.014 |
| 2030 | $0.056 | $0.07 | $0.084 |
The most likely wave count suggests that CKB has started the fifth and final wave of its upward movement, which began in December 2022.
Wave five started after CKB bounced at the channel’s resistance trend line in July.
Using the length and duration of the previous waves, the most likely target area for a top is $0.056, reached in January 2026.
After CKB reaches the high, we can predict a similar decrease to the one that followed the March 2021 all-time high price.
During these projected upward and downward movements, the wave count gives a CKB price prediction of $0.049 and $0.012 for the end of 2024 and 2025, respectively.
We will add and subtract 20% for these targets to arrive at our minimum and maximum CKB price predictions.
Finally, we will use the daily rate of increase for the past four years to predict the CKB price at the end of 2030.
Since September 2020, CKB has increased by 240%, giving a daily rate of 0.165%. Projecting this increase until the end of 2030 gives a target of $0.07.
CKB Price Prediction 2024
The wave count method gives a CKB price prediction range of $0.04 to $0.058 for the end of 2024.
CKB Price Prediction 2025
The wave count method gives a CKB price prediction range of $0.01 to $0.014 for the end of 2025.
CKB Price Prediction 2030
Using the daily rate of increase, we arrive at a CKB price prediction range of $0.056 to $0.084 for the end of 2024.
CKB Price Analysis
The daily time frame CKB chart shows a breakout from a descending resistance trend line, likely marking the end of the correction.
During the breakout, the RSI increased above 50, and the MACD moved above 0, both signs of a bullish trend.
After the breakout, CKB moved above the $0.0145 horizontal resistance area, which had previously provided support.
This further supports the possibility that the correction is over.
If the increase continues, the next resistance will be at $0.031.
Short-Term CKB Price Prediction
The CKB price prediction for the next 24 hours hinges on an increase toward the $0.031 resistance area.
While CKB may return to the $0.014 area and validate it as support, the long-term trend remains bullish if the price does not close below $0.014.
Nervos Network ATR: CKB Volatility
The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days. A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels. On Sept. 16, 2024, CKB’s ATR was 0.001395, suggesting average volatility.
Nervos Network Relative Strength Index (RSI): Is CKB Overbought or Oversold?
Nervos Network Price Performance Comparisons
Best Days and Months to Buy Nervos Network
We examined the Nervos Network price history and found the lowest prices on certain days, months, quarters, and even weeks in the year, indicating the best times to buy CKB.
| Day of the Week | Saturday |
| Week | 7 |
| Month | February |
| Quarter | First |
Nervos Network Price History
Following that, let’s now take a look at some of the key dates in the Nervos Network price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting a Nervos Network price prediction.
| Time period | Nervos Network price |
|---|---|
| Last week (Sept.9 2024) | $0.007942 |
| Last month (Aug. 16 2024) | $0.007418 |
| Three months ago (June 16 2024) | $0.01287 |
| One year ago (Sept. 16 2024) | $0.002763 |
| Launch price (November 20 2019) | $0.007917 |
| All-time high (March 31 2021) | $0.04412 |
| All-time low (Dec. 20 2022) | $0.002083 |
Nervos Network Market Cap
The market capitalization, or market cap, is the sum of the total number of CKB in circulation multiplied by its price. On Sept. 16, 2024, Nervos Network’s market cap was $710 million, making it the 81st-largest crypto by that metric.
Nervos Network Supply and Distribution
| Supply and Distribution | Figures |
|---|---|
| Total supply | 45,662,718,473 |
| Circulating supply (as of Sept. 16, 2024) | 44,944,644,590 (98.42% of total supply) |
From the Nervos Network Whitepaper
In its technical documentation, or whitepaper , Nervos Network says that, “built on RISC-V and secured by Proof-of-Work, CKB is the most flexible and interoperable blockchain. It serves as the ultimate foundation of Nervos, a modular blockchain network built from the ground up to ensure outstanding security, decentralization, flexibility, and interoperability.”
Nervos Network (CKB) Explained
How Nervos Network Works
Is Nervos Network a Good Investment?
It is hard to say. The token’s price has shot up recently, but the RSI suggests it is overbought, meaning the price could correct soon.
As always with crypto, you will need to make sure you do your own research before deciding whether or not to invest in CKB.
Will Nervos Network go up or down?
No one can really tell right now. While the Nervos Network crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Should I invest in Nervos Network?
Before you decide whether or not to invest in Nervos Network, you will have to do your own research, not only on CKB, but on other coins and tokens such as Ordinals (ORDI). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
Technical analysis by Valdrin Tahiri.
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