With CKB Price Close To All-Time High, Bulls Expect

The post With CKB Price Close To All-Time High, Bulls Expect appeared first on Coinpedia Fintech News

With a massive trend reversal for Nervos Network in 2024, the bull run seems unstoppable in the price charts. Escaping the crypto winter after years of downtrend, the CKB price reversal rally brings the possibility of a new all-time high. 

Further, as the entire market stands on the cusp of a blue ocean phase, such altcoins are the choice of smart investors. So, will the CKB price cross the psychological barrier of $0.050 to reach a new all-time high?

Will The CKB Price Break Above $0.036?

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With the bull run accounting for a price jump of 873%, the Nervos Network surpass the billion-dollar market cap. The CKB token price trades at $0.03119 with an intraday growth of 8.68%. 

In the weekly chart, the CKB rally is close to reaching the all-time high price at $0.044 for a breakout surge. Further, the rounding bottom reversal teases a prolonged uptrend if the overall market sustains recovery momentum.

In the daily chart, the altcoin completes the retest of 78.60% Fibonacci level at $0.028875. This increases the likelihood of an uptrend continuation. Hence, the intraday growth and the successful post-retest reversal signal an entry opportunity for sideliners. 

• EMA: The crucial weekly 200 and 50 EMA are on the verge of gaining positive alignment for the first time. This will mark a golden crossover in the weekly chart, signaling a trend reversal. 

Will Bull Run Continue For The Nervos Network?

As the market gains momentum, the Nervos Network positions itself to capitalize most from the recovery rally. Further, the price action and the golden cross tease a surge in CKB price beyond $0.050. As per the Fibonacci levels, the breakout rally could hit the $0.057 mark. 

On the flip side, a downfall below the $0.028 mark could hamper the recovery rally and retest $0.023.