Nervos Network (CKB) experienced a significant downturn of 15.45% this week following a surge to its all-time high of $0.038239. This decline coincided with the formation of a double bottom pattern, culminating in the breakout to this new ATH.
In the preceding week, CKB encountered substantial price rejection, leading to a corrective phase. There's a growing likelihood that CKB will gravitate towards the support zone ranging from $0.014235 to $0.016276. A potential rebound is anticipated upon encountering resistance within this demand zone.
On the daily timeframe, oscillators exhibit neutrality towards CKB, while Moving Averages signal a sell. Conversely, on the weekly timeframe, oscillators remain neutral, with Moving Averages indicating a bullish trajectory.
In the preceding week, CKB encountered substantial price rejection, leading to a corrective phase. There's a growing likelihood that CKB will gravitate towards the support zone ranging from $0.014235 to $0.016276. A potential rebound is anticipated upon encountering resistance within this demand zone.
On the daily timeframe, oscillators exhibit neutrality towards CKB, while Moving Averages signal a sell. Conversely, on the weekly timeframe, oscillators remain neutral, with Moving Averages indicating a bullish trajectory.