FxWirePro- Nervos network (CKBUSD) (Chart of the day)

CKB is the most flexible and interoperable blockchain. It serves as the ultimate foundation of Nervos, a modular blockchain network built from the ground up to ensure outstanding security, decentralization, flexibility, and interoperability. 

Nervos CKB is the first fully Bitcoin-isomorphic Layer2 solution, utilizing Proof of Work (PoW) and UTXO models.

Recent news-

The Nervos network was listed in the South Korean exchange Upbit supporting KRW, BTC, and USDT pairs on Sep 13th, 2024.

CKB Fiber network testnet launch-

A new lightning network on #Nervos #CKB tailored for speed, cost-efficiency, and decentralization! Fiber Network is a cutting-edge solution for multi-token payments and peer-to-peer transactions.

CKBUSD prices surged more than 180% in this month. It hit a high of $0.020235 at the time of writing and currently trading around $0.01734. The pair is holding well above the short-term (21 and 55-day EMA) and long-term moving average (200-day EMA).

The near-term resistance is around $0.02050, any indicative breach above will take the pair to $0.2195/0.023175. On the lower side, immediate support is $0.01345, and any violation below the target is $0.01240/$0.01050.

Indicators ( 4- hour chart)

CCI(50)- Bullish

Directional movement index - Bullish

It is good to buy on dips around $0.0130 with SL around $0.010 for TP of $0.023175.