CKB Price Prediction, The Long-Term Outlook

CKB is trading in the green today, February 27. The crypto assets recorded a price gain of 1.05% in 24 hours, pushing the price to $0.004961. CKB powers the Nervous Network, a solution that solves the problem of interoperability and scalability plaguing many Layer 1 blockchains.

The utility token CKB has recorded notable price growth since the beginning of the year till now due to its utility. The token enables holders to access and utilize the total state storage of the Nervous Network. For instance, if a user holds 1000 CKB, it allows him to create a 1000-byte cell or many cells that add up to 1000 bytes on the blockchain. 

CKB is a PoW blockchain, so users can mine the token with the ASIC-neutral PoW function. This mechanism supports the even distribution of tokens to ensure continued network security. 

How Has CKB Grown Since Launch?

Nervous Network emerged in November 2019, and its token ICO also occurred the same year. At launch, the CKB price stood at $0.009, but by March 2020, the token price fell to $0.002. According to CoinMarketCap data. CKB recorded its all-time high of $0.04412 on March 31, 2021, during the bull market. Then on December 20, 2022, the token fell to its lowest price of $0.002083 during the unforgettable crypto winter. 

By December 31, CKB stood at $0.00232. The token maintained the same price range from January 1, 2023, until January 10, when it rose to $0.003. CKB traded at that price level until January 26, when it touched $0.004 but returned to the former $0.003. Then on February 16, CKB started another price trend and finally reached $0.006 4 days later before retracing to $0.005

Even though the token has recorded some pullbacks, it has held on to the $0.005 price level till today, February 27. Also, the token has gained a whopping 144.41% price growth from its all-time low two months ago. CKB’s trading volume is also up by 71%, and its market cap has added 2.46%. 

CKB Price Prediction Based On Daily Chart

CKB is trading in the green today above its 50-day and 200-day Simple Moving Averages (SMAs). This pattern indicates a bullish trend for the asset in the short and long term. The bullish pressure on the charts will likely create a golden cross on the daily chart in the next few days. 

However, today’s Doji formed on the price chart signals a possible trend reversal.

Also, the Relative Strength Index (RSI) is 57.78, reflecting price neutrality. However, if the bulls persist, the indicator might move to the upside in the coming days.

The Moving Average Convergence/Divergence  (MACD) is above the signal line but shows convergence. Also, the histogram bars reflect weak bullish pressure.

CKB’s support levels are $0.0042, $0.0045, and $0.0048; its resistance levels are $0.0053, $0.0056, and $0.0059. CKB will likely test the nearest resistance of $0.0053 soon and overcome it if the bulls prevail. 

However, altcoins are volatile and can deviate from past or predicted price behavior. So, no prediction is 100% accurate.

CKB Long-Term Price Prediction 2023 to 2032

According to crypto experts, CKB will record impressive prices in the next few years. 

The Nervous Network token will likely reach a minimum price of $0.007 and a maximum price of $0.008 before the end of 2023. By 2024, analysts expect CKB’s price to reach a maximum price of $0.012, a minimum price of $0.010, and an average price of $0.011. 

By 2025 CKB price might grow to $0.015 minimum, $0.018 maximum, and $0.016 average price. The next year, 2026, experts expect the token to reach a low of $0.022 and a high of $0.026. 

Latest Nervous Network Event

Many factors affect the price of crypto assets positively or negatively. These factors include network developments, market sentiments, macros, etc. Regarding the current price gain of CKB, a notable event that may have spiked its price is the upcoming listing on Binance. 

According to a Twitter post by Ace Trading, Binance will list CKB in the Futures tomorrow, February 28. 

#Binance will list the #CKB in the #Futures on February 28. pic.twitter.com/yNsEQ4pZQa

— The Ace Trading (@linofx1999) February 27, 2023

A second network event that might push the CKB price uptrend is the halving event on November 10, 2023. The hype about the event is already ongoing on Twitter, with some users calling others to buy CKB before it goes bullish. With increased demand, CKB might record some price gains before the event. 

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