CKB (Nervos Network) against USDT (Tether)
Significant volatility over the period shown.
The peak near 0.037977 appears to have been a short-lived spike around May 1, 2024, after which the price rapidly declined.
There has been a notable increase in price again, forming what appears to be a "cup" pattern, which is typically considered a bullish signal. This pattern suggests a possible continuation of the uptrend if it can break past recent resistance levels.
The moving averages (MAs) show that the shorter-term MA(7) has crossed above the longer-term MAs, which is another bullish indicator. If these trends continue, the price could potentially move higher. However, it's important to monitor for any signs of reversal, especially with such a volatile asset.
Your next move should depend on your trading strategy and risk tolerance.
If you are a more conservative trader, you may wait for additional confirmation of a sustained upward trend before entering a position.
If you are more aggressive, you might consider entering a position soon, setting a tight stop-loss order to manage your risk. Always consider the broader market conditions and news that might affect the price of CKB.
DO YOUR OWN RESEARCH