CKB Price Prediction: Is Nervos Network Ready for a Bull Run?

CKB has been making a significant recovery rally in the price chart. Our CKB price prediction expects new highs for the coin in the near future. 

Blockchain interoperability has been a significant sector for running the Web 3.0 technology, and several protocols have emerged this year to bring revolutionary changes, each with distinct characteristics and consensus algorithms, diverse transaction types, and smart contract features to achieve various goals. Moreover, an increased adoption is a sign that developers are thinking outside the box and aiming to bring blockchain to mainstream adoption. CKB has been dominant in the past as it made a rollercoaster journey with a significant ROI. However, the current CKB price trend has been severely impacted by the FTX’s collapse, which plunged the token hard to the bottom line. Hence, our CKB price prediction aims to bring its project analysis and expected future potential with an in-depth technical analysis of the current trend to decide the best strategic plan for investing in this coin.

Nervos Network: A Quick Overview

A peer-to-peer crypto-economy network called Nervos Network was developed in response to address interoperability problems and solve them. Nervos Network is a multi-asset blockchain network with an innovative dual-layer architectural approach that enhances the scalability and interoperability of the crypto space. The network itself is made up of an open-source code of blockchain and a set of protocols that make it more convenient to create and use decentralized applications (dApps). 

The Nervos’ layer infrastructure includes two layers: Layer 1 (OKB) and Layer 2. The Layer 2 systems provide functionality, performance, and scalability, whereas layer 1 focuses on decentralization, confidentiality, and security. Both layers allow a million users to transact in real time by working parallelly and efficiently. Let’s find out its current market details to better clarify our CKB price prediction. 

CKB: Features And Tokenomics

The Nervos Network is a public and open-source blockchain ecosystem, and CKB is the Nervos Network’s layer one proof-of-work public blockchain protocol (Common Knowledge Base). CKB is the native cryptocurrency of the Nervos platform that works on the proof-of-work (PoW) consensus mechanism. According to official statistics, the network takes 16.72 average block time and a transaction per minute (TPM) rate of 11.56, making it slow compared to the big players such as Solana and Cardano.

The whitepaper states, “The CKB consensus protocol is a variant of NC that raises its performance limit and selfish mining resistance while keeping its merits. By identifying and eliminating the bottleneck in NC’s block propagation latency, our protocol supports very short block intervals without sacrificing security. A shortened block interval not only increases throughput, but also lowers transaction confirmation latency. By incorporating all valid blocks into the difficulty adjustment calculation, selfish mining is no longer profitable in our protocol.”

The Nervos CBK mainnet, which acts as the network’s foundational layer, offers a stateful “Turing Complete ” virtual machine that implements smart contracts to meet application processing requirements. This virtual machine system utilizes Bitcoin’s UTXO accounting mechanism to store and track changes on the blockchain. The Nervos Network has reached remarkable milestones since its inception, and it made significant growth in 2021, thanks to notable releases such as Force Bridge and Godwoken. These essential things done in 2021 have pushed the network to many more projects to take advantage of a much more flexible and complete multi-chain ecosystem this year.

The Nervos Network seeks to take the platform even further in 2023, with new developments currently being developed for the Layer 1 and 2 chains. Intercultural improvements will help the community gather more users worldwide and will soon be put into place by building more bridges to other chains.

CKB Price Prediction: Price History

Before moving toward CKB price prediction, it is important for investors and traders to know CKB’s past price fluctuations to get a rough idea about its expected future price potential. However, it is to be noted that price history does not guarantee our CKB price prediction. 

CKB token launched into the crypto trading market with a value of $0.007 on 20 November 2019. After testing its initial high of $0.009, the token started a downtrend and reached $0.005 on 21 January. After forming another bottom level in February, the CKB coin extended its bearish trend further and reached $0.0029 on 17 March. However, CKB made a recovery rally and climbed to $0.006 on 10 April. CKB failed to maintain its uptrend and made a slow downward trend and touched $0.003 on 22 May. After making a yearly high of $0.0091 on 18 August, CKB went under a substantial bearish consolidation and traded below $0.003 for the rest of 2020. 

In 2021, CKB started bringing waves to investors’ portfolios, as from the beginning of January 2021, CKB made an exponential rise and touched $0.01 for the first time on 14 February. As the crypto market was driven by a solid bull run in 2021, CKB continued its bullish momentum and reached $0.04 on 1 April. However, the bull market was then dominated by bears as CKB put a barrier to its bullish trend in May. After making a high of $0.034 on 11 May, CKB significantly dropped in the price chart and attained a low of $0.01 on 24 May. With a slight bull trap and upward retracement, the token formed a bottom at $0.009 on 23 July. However, CKB coin grabbed investors’ attention due to overwhelming fundamentals that helped its price reach $0.02 on 10 September. With a significant loss for traders, CKB consolidated in a bearish range before making a high of $0.03 on 28 November. CKB ended 2021 on a bearish note at $0.02. 

In 2022, the market sentiments worsened as several cryptocurrencies traded near yearly bottom levels, and CKB was no exception. CKB reached $0.01 on 23 January and dropped further in the next few weeks. The token obtained a low-price level of $0.002 on 24 June, and its bearish trend got triggered further following FTX’s collapse, which plunged the crypto market to worse price levels. 

CKB Price Prediction: Technical Analysis

Nervos Network has been outperforming in the last few days as it made a potential recovery rally with an aim to spark an astronomical high in the future and end the current bearish trend with overwhelming fundamentals. However, the downfall of the crypto exchange FTX has created a black eye in the crypto market, forcing whale investors to cash out massive holdings and put extreme selling pressure on the price chart. Hence, our CKB price prediction aims to bring you an in-depth technical analysis using advanced technical indicators to hover amid the current market trend and guide you through a profitable investment plan.

According to CoinMarketCap, the current price of CKB coin trades at $0.0025, with an uptrend of nearly 2% from yesterday’s price. Our CKB crypto technical analysis reveals that this digital asset may soon spark bullish signals to new highs as it has been trading upwards after following positive sentiments of the cryptocurrency market. Looking at the daily price chart, CKB struggles to trade above its EMA-20 trend line at $0.0026 as it continuously faces rejection near its immediate resistance level of $0.0025. The EMA-50 trend line has rapidly dropped from its previous resistance level of $0.0037 to $0.0029, and CKB tokens have been trapped under bears’ domination as it trades in a consolidated range. CKB coin trades near an extreme fear zone which was brought about by FTX’s collapse, creating a FUD situation for investors. However, CKB has barred itself from dropping further as it has taken support at $0.0023, from which the coin is making a slight upward retracement to its 23.6% Fib retracement. The Balance of Power (BoP) indicator trades in a stable region, hinting at a smooth price momentum for our CKB price prediction. 

The popular indicator RSI-14 trades on the verge of a bullish region at the level of 44, which may push CKB to test its resistance near the 31.6% Fib levels. Moreover, the MACD line forms a bullish pattern in the chart as it sparks green candles above the signal line, signifying bulls’ domination in the CKB price chart. However, the SMA-14 does not look promising as it consolidates below the 40-level, which may ignite a short-term bearish retracement for CKB to the bottom levels. If the CKB coin breaks above its EMA-50 trend line, it may ignite a clear uptrend to its Bollinger band’s upper limit of $0.004, above which it may make an attempt to break its strong resistance at EMA-200 ($0.005). Conversely, a further downfall is expected if CKB drops below the crucial support level of $0.002; below this price level, it may accelerate a sharp collapse as it can trade near its Bollinger band’s lower limit of $0.0009. If CKB’s price fails to hold above $0.0008, it may gear up for a more bearish bloodbath and trade near $0.0005.

CKB Price Prediction By BlockchainReporter

CKB Price Prediction 2022

According to our CKB price prediction for 2022, Nervos Network is predicted to attain a maximum value of $0.004 with an average trading price of $0.003. However, our technical analysis reveals that CKB can go as low as $0.002. 

CKB Price Prediction 2023

Our CKB price prediction for 2023 expects a maximum trading price of $0.006, with an average trading price of almost $0.005. CKB might retrace downward with a minimum price of $0.004 by the end of 2023. 

CKB Price Prediction 2024

Nervos Network boasts of developing solid and overwhelming fundamentals for the crypto community. Our CKB price prediction for 2024 predicts that the coin will continue its bullish momentum, and it will likely achieve a maximum price level of $0.007. After that, CKB crypto might record a low of $0.005, with an average trading price of $0.006.

CKB Price Prediction 2025

Our CKB price prediction for 2025 anticipates a minimum value of $0.007 and a maximum value of $0.009. In addition, our CKB price forecast for 2025 predicts an average trading price of $0.008.

CKB Price Prediction 2026

CKB may witness an exponential rise in 2026 and bring a tremendous return on investment to its long-term holders. Our CKB crypto price prediction for 2026 expects a maximum price of $0.014 with an average trading price of $0.012. CKB may trade at a minimum value of $0.011. 

CKB Price Prediction 2027

The crypto market may soon break through all of its hurdles and eliminate its current negative sentiments as it is building potential for a bullish comeback and is expected to skyrocket in the next few years. Our CKB price prediction for 2027 suggests that Nervos Network may touch a maximum trading price of $0.02. Nervos Network may trade at an average price of $0.017 with a minimum value of $0.015.

CKB Price Prediction 2028

Our CKB price prediction for 2028 states that Nervos Network may touch a maximum price of $0.029 and an average trading price of $0.024. The minimum value for the Nervos Network cryptocurrency is predicted to hit $0.022.

CKB Price Prediction 2029

In the upcoming years, CKB crypto may attract powerful partnerships due to its user-friendly environment and can push its price to the North. Our CKB price prediction for 2029 expects a maximum price for this coin to be $0.041 and a minimum price of $0.035. CKB crypto may reach an average value of $0.036.

CKB Price Prediction 2030

Depending upon the future market sentiments and response from the community, CKB crypto can see a maximum price level of $0.060 with an average trading price of $0.051. However, the CKB coin is projected to hit a minimum value of $0.049 by the end of 2030.

CKB Price Prediction: Industry Experts

According to DigitalCoinPrice’s CKB price prediction, the price of CKB is expected to surpass the level of $0.00588 in 2023. By the end of the year, Nervos Network is expected to reach a minimum value of $0.00538. In addition, the CKB price is capable of getting a maximum level of $0.00615. In 2028, CKB is expected to exceed the price level of $0.0171. By the end of the year, Nervos Network is expected to reach a minimum value of $0.0170. In addition, the CKB price may secure a maximum level of $0.0178.

Wallet Investor’s CKB price prediction states that CKB is a bad investment option as its price can devalue in the future. The website predicts an average trading price of $0.0001087 with a minimum value of $0.0000543 and a maximum value of $0.000163 by the end of 2024. In 2027, CKB may attain an average price of $0.000169 with a minimum value of $0.0000846 and a maximum value of $0.000254. 

Is CKB A Good Investment Option? When Should You Buy?

CKB is the decentralized trust root of the Nervos Network and it provides immense value to the crypto economy. It ensures top-layer security without harming scalability, flexibility, or interoperability. Furthermore, as Nervos Network becomes a DAO, users and developers will get control over designing and framing the network’s protocol and making digital identities for the growing crypto economy. As the developing team is active in expanding the protocol’s operations, CKB has an overwhelming future ahead. Our CKB price prediction indicates a buying opportunity at $0.0018 for a stable profit in the long term.

Conclusion

The Nervos Network and other networks in the blockchain and cryptocurrency industry aim to provide the community flexibility, interoperability, and scalability and smoothen the Web3 experience. Nervos is different from other blockchain-related projects as it doesn’t try to compete with existing platforms. Instead, it makes a unique approach by combining the best offerings of each network to help blockchain technology become more widely adopted. With the network’s use of a common knowledge base strategy, Nervos gathers engagement from each user, miner, and node operator to support the platform’s ongoing expansion.

CKB is a cryptocurrency that has been around for a while and has performed outstanding among other projects. However, investors are advised to do their own research and conduct investment plans from experts’ opinions before investing in the volatile crypto market.