The deal marks a milestone moment for the San Francisco–based firm, which has grown its assets under management from $60 million to $450 million in just three years, delivering a 25.45% net return in 2024.
With Wall Street now backing its model, Numerai is stepping closer to the mainstream — and its token, Numeraire (NMR), has surged 150%, pushing toward a breakout from long-term resistance.
Numeraire Price Analysis
NMR recently fell to an all-time low in April, bottoming at $5.89, the first time it had dropped below $6 since March 2020.
Numeraire’s decline caused a breakdown below the $8 horizontal support area, which did not last long.
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NMR has moved well above the trend line, but needs to close above $13 to confirm the bearish trend is over.
Momentum indicators are also rallying. The Relative Strength Index (RSI) is above 50, and the Moving Average Convergence/Divergence (MACD) is nearly positive.
Afterward, a potential target for wave three is $24.43, giving it 2.61 times the length of wave one.
In any case, the NMR wave count suggests the bullish trend is not over, and NMR will increase until it finishes its five-wave rally, which could take until the end of the year.
New Highs Likely
After positive news regarding a JPMorgan investment, the Numeraire price surged by 150%.
NMR is breaking out from a long-term diagonal resistance and could reach $24.50 soon.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
