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The Nervos Network price has surged 127% in the last 24 hours to trade at $0.0084 as of 04:55 a.m. EST on trading volume that rose 189% to $358 million.
The jump in the CKB price follows the developers’ release of the RGB++ protocol, which is an extension of the original RGB protocol (Really Good Bitcoin) designed to work with Bitcoin. The goal of the RGB++ protocol is to enhance the capabilities of the Bitcoin network by introducing new features and improvements.
The RGB protocol itself is a smart contract system that aims to bring advanced functionality to Bitcoin without compromising its security or decentralization. By utilizing the Lightning Network sidechain, RGB++ tackles scalability challenges and offers a range of new possibilities.
Nervos Network Price Trends Within The Bullish Pennant
Since the beginning of this year, the Nervos Network price has been in a consolidation phase, trading around $0.004.
Recently, the price has been rallying, marked by the emergence of a markup phase. However, the bulls faced resistance at $0.0095, which paved the way for a slight retrace, with $0.0080 acting as the immediate support zone.
The CKB price is trading above both the 50-day and 200-day Simple Moving Averages (SMAs), which confirms the current bullish sentiment.
The formation of a moving average (MA) cross at $0.0048 further supports these sentiments, showing that the price may surge even further on the upside. Meanwhile, the Relative Strength Index (RSI) is on a rebound from the 50-midline level at 57. If the bullish momentum sustains, the RSI could enter the 70-overbought threshold.
Furthermore, the Moving Average Convergence Divergence (MACD) line (blue) seems to be rebounding from below the signal line (orange), which signals a continued rally for the upside.
Additionally, the histogram displays red bars diminishing as they head for the upside, a confirmation of the rally ahead. The Average Directional Index further supports this sentiment, as it is at level 53, which indicates a very strong bullish trend.
Nervos Network Price Prediction
The current Nervos Network price short-term analysis is bullishly biased, which suggests that the market is still on bullish momentum. This is further affirmed by the formation of a bullish pennant.
The bulls aim to breach the upper boundary of the pennant, aiming to surpass the resistance at $0.0095 to test new resistances at $0.012 and $0.016.
However, if the bears carry out a trend reversal, the CKB price may retrace back to $0.0075, acting as the best footing for the price.
Meanwhile, as the CKB price soars, eTukTuk is emerging as a compelling crypto ICO right now for investors looking for huge returns.
Best Eco-Friendly Crypto To Invest In Trending Crypto Presale
eTukTuk (TUK) is an innovative project leveraging AI, blockchain technology, and the smart coordination of electric vehicles (EVs) and charging stations to transform transportation in developing nations. And it’s just soared past $1 million in funds raised.
1/ Ready for a game-changer?
Let's talk about how shifting to renewable energy isn't just crucial for our planet, but it might just pay for itself within six years. 🔄🧵 pic.twitter.com/TZXK8dse5M
— eTukTuk (@eTukTukio) October 6, 2023
The project aims to deal with the issues of carbon emissions, improve health, and enable a society that underscores the importance of financial inclusivity. eTukTuk operates on the Binance Smart Chain (BSC) to use a decentralized sharing economy for scalability, security, and efficiency.
Furthermore, eTukTuk aims to be at the forefront of the Electric Vehicle Charging Station Infrastructure (EVSE) sector by offering a cleaner, healthier alternative to traditional internal combustion engine (ICE) Tuk Tuks.
Switching from the old, noisy, and polluting ICE tuktuks to the sleek, quiet, and eco-friendly eTukTuk – because progress is not just about moving, it's about moving forward responsibly 🌿🚗#ElectricVehicles #Memes pic.twitter.com/BWkoU3T09D
— eTukTuk (@eTukTukio) January 7, 2024
Buy And Stake $TUK For 222% Annual Rewards
You can buy and stake your $TUK tokens, earning you an impressive 222% annual percentage yield (APY). The more you stake, the higher the rewards.
Introducing Buy and Stake mechanism, get $TUK tokens and instantly stake them, initiating a dynamic APY.
Early stakers enjoy higher returns as APY adjusts with participation, encouraging early adoption and a fair, enticing incentive structure for all. 💫 pic.twitter.com/pMrXEZzB3f
— eTukTuk (@eTukTukio) October 10, 2023
Additionally, you will be able to earn $TUK tokens every time you complete a mission in the play-to-earn (P2E) game, Crazy Taxi, set to launch soon. Your mission will be to ferry passengers to different locations on the busy streets of Sri Lanka.
YouTube analyst Jacob Bury says eTukTuk has the potential to 10X on launch.
The eTukTuk presale has less than 14 days remaining before prices go up. As such, you still have time to buy TUK tokens at $0.02675 each.
You can buy $TUK tokens today by visiting the official eTukTuk website. Swap BNB or USDT for $TUK tokens or buy directly using your bank card.
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