CKB Price Analysis: Is CKB price facing a sell-off moment? 

• 1 After nan caller bullish rally successful CKB price, it is facing a little sell-off
• 2 CKB value made a downtrend of 30%

The existent CKB value is $0.004 pinch a alteration successful 24-hour trading measurement of  57%. The Nervous Network value is down 1.03% successful nan past 24 hours The CKB Nervous is simply a furniture 1, impervious of activity nationalist blockchain protocol of nan Nervous Network (named aft nan body’s tense system). As a shop of worth crossed nan tense network, nan CKB layers person a generalized compartment exemplary successful which each compartment tin shop an executable code,a smart contract, aliases different pieces of contented connected nan blockchain. The Nervous Network’s compartment exemplary mimics nan Bitcoins UTXO model.

CKB value taking a bearish correction

Source:  CKB/USDT by TradingView 

Nervous Network’s value aft giving a very bullish rally of 70% has changed its inclination successful nan favour of nan bears by giving a downtrend of 30%. Although nan value did make a beardown bullish candle showing nan buyer’s liking successful this token, bears look to beryllium taking power backmost according to nan ongoing value action arsenic observed.

Technical Analysis (1-day timeframe )

Source:  CKB/USDT by TradingView 

The value is presently taking support from nan 20 EMA astir nan value of $0.0046 while trading conscionable supra nan 200 EMA wherever each nan different cardinal moving averages are trading beneath it. After crossing nan 200 EMA Nervous Network’s price gave an highly bullish move of 70% but currently, nan downward curve of value pinch a 30% move is suggesting nan value is coming backmost for a pullback. 

Nervous Network value is presently taking support from nan value of $0.0046 while its adjacent support level is astir $0.0040 and nan awesome guidance level for Nervous Network is astir nan value of $0.0070.

The RSI statement is trading adjacent its support area astir nan median statement astatine constituent 53.56 from which it has taken support antecedently a fewer times while trading beneath nan 14 SMA which is trading astir nan 64.86 level. The RSI curve suggests that it mightiness soon commencement moving toward nan proviso zone.

Conclusion

As tin beryllium concluded from nan supra study Nervous Network’s value is taking a terrible guidance while its beardown bullish move earlier shows that nan buyers are showing liking successful this token. It has bully basal worth and nan value is trading astatine nan wide opening of nan bull inclination arsenic tin beryllium estimated by nan 200 EMA. The RSI statement is adjacent its support statement chances are that it mightiness make a reversal from here.

Technical levels

Support – $0.0046 and $0.0040 

Resistance – $0.0070

Disclaimer

The views and opinions stated by nan author, aliases immoderate group named successful this article, are for informational purposes only, and they do not found financial, investment, aliases different advice. Investing successful aliases trading crypto assets comes pinch a consequence of financial loss.