Nervos Network price has increased by 127% in the past 24 hours to trade at $0.0084, while trading volume has risen by 189% to $358 million.
The surge in CKB’s price came after developers released the RGB++ protocol, 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 functionality of the Bitcoin network by introducing new features and improvements.
The RGB protocol itself is a smart contract system designed to bring advanced features to Bitcoin without compromising its security or decentralization. By leveraging the Lightning Network sidechain, RGB++ solves the scalability challenge and opens up a host of new possibilities.
Nervos Network price has been in a consolidation phase since the beginning of the year, trading around $0.004.
Recently, the price has been rising, marking a bullish phase. However, the bulls encountered resistance at $0.0095, paving the way for a minor retracement, while $0.0080 is an immediate support area.
CKB price is trading above the 50-day and 200-day simple moving averages (SMAs), which confirms the current bullish sentiment.
The formation of a moving average crossover at $0.0048 further supports these views, suggesting that prices may rise further. Meanwhile, the relative strength index (RSI) has recovered from the 50 midline level to 57. If the bullish momentum continues, the RSI may enter the 70 overbought threshold.
Furthermore, the Moving Average Convergence Divergence (MACD) line (blue) seems to be bouncing off from below the signal line (orange), which suggests that the up move will continue. Moreover, the histogram shows that the red bars are decreasing and heading upwards, which confirms the impending up move. The Average Directional Index further supports this view as it is at the 53 level, indicating a very strong bullish trend.
The current short-term analysis of the Nervos Network price has a bullish bias, which shows that the market is still in a bullish momentum. This is further confirmed by the formation of a bullish triangle.
The bulls are aiming to break out of the upper boundary of the bullish triangle with the goal of breaking out of the $0.0095 resistance to test new resistances at $0.012 and $0.016.
However, if the bears stage a trend reversal, CKB price might retrace to $0.0075 as the best support.
Meanwhile, as CKB prices surge, eTukTuk is becoming a high-profile cryptocurrency ICO for investors seeking big returns.
eTukTuk (TUK), an innovative project that uses artificial intelligence, blockchain technology and smart coordination of electric vehicles (EVs) and charging stations to transform transportation in developing countries, has just raised over $1 million in funding.
The project aims to address carbon emissions, improve health, and promote a society that emphasizes the importance of financial inclusion. eTukTuk operates on Binance Smart Chain (BSC) to achieve scalability, security, and efficiency using a decentralized sharing economy.
Additionally, eTukTuk aims to become a leader in electric vehicle charging station infrastructure (EVSE), providing a cleaner and healthier alternative to traditional internal combustion engine Tuk Tuks.
Buy and stake TUK tokens to earn a 222% return per year. The more you stake, the higher your return.
Additionally, you’ll be able to earn TUK tokens every time you complete a mission in the upcoming Play-to-Earn (P2E) game Crazy Taxi. Your mission is to drop passengers off at different locations on the busy streets of Sri Lanka.
YouTube analyst Jacob Bury said eTukTuk has the potential to grow 10 times by the time of launch.
There are less than 14 days left in the eTukTuk presale and the price will go up. Therefore, you still have time to buy TUK tokens at $0.02675 each.
You can purchase TUK tokens by visiting the official eTukTuk website. Exchange BNB or USDT for TUK tokens, or purchase directly with your bank card.
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