NuCypher Price Prediction 2021 – Will NU Hit $0.5 Soon?
- Bullish NU price prediction ranges from $0.37 to $0.44.
- NU price might also reach $0.5 soon.
- NU bearish market price prediction for 2021 is $0.22.
In NuCypher price prediction 2021, we use statistics, price patterns, RSI, and much other information about NU to analyze the future movement of the cryptocurrency.
NuCypher is a software aiming to provide a security and privacy layer for decentralized applications built on public blockchains, such as Ethereum. NyCypher allows developers to store, share, and manage private data and aims to add an interoperable security layer to various blockchains in which developers can give permission to sensitive information on a number of dApps.
NuCypher (NU), the native token used on the larger NuCypher network. The tokens are utilized to incentivize network participants for performing key management services and accessing delegation/revocation operations on the network
According to CoinGecko, the NU price is trading at $0.3285 with a 24-hour trading volume of $29,197,479 at the time of writing. Moreover, NU has decreased by 0.45% in the last 24 hours.
However, NU has a circulating supply of 672,000,000.00 NU. Currently, NU trades in cryptocurrency exchanges such as Binance, OKEx, Huobi Global, HitBTC, and Hotcoin Global.
NuCypher (NU) Price Prediction 2021
NuCypher (NU) holds the 21st position on CoinGecko right now. NU price prediction 2021 is explained below with a daily time frame.
Ascending channel trend, designed between upward sloping parallel lines. Higher Highs and higher lows characterize this price pattern. Channel trends are used commonly to confirm trends and identify breakouts and reversals. Ascending channel trend shows an absolute uptrend. Traders can swing trade between the pattern’s support and resistance levels or trade in the directions of a breakout.
In the hourly time frame chart, if the price of the NU breaks the resistance level of $0.37, it will reach the target of $0.44. Else, if the price of the NU breakout the support level of $0.33 means it will fall to the next support level at $0.27. So, the trend of the NU is based on the breakout.
NuCypher (NU) Support and Resistance Level
The below chart shows the support and resistance level of NU.
From the above daily time frames, it is clear the following are the resistance and support levels of NU.
- Resistance Level 1 – $0.37
- Resistance Level 2- $0.44
- Support Level 1 – $0.33
- Support Level 2 – $0.27
- Support Level 2 – $0.20
More so, the chart show that NU has performed a bullish trend over the past month. If this trend continues, NU might run along with the bulls overtaking its resistance level at $0.44.
Accordingly, if the investors turn against the crypto, the price of the NU might plummet to almost $0.20, a bearish signal.
NuCypher (NU) Average Directional Index (ADX)
Now let’s see the average directional index (ADX) of NU. Generally, the Average Direction Index (ADX) helps traders determine the strength of a trend, rather than its actual direction. It can used to determine whether the market is changing or a new trend is starting. It associated with the Directional Movement Index (DMI) and includes the ADX line.
The range of the oscillator is from 0 to 100. A high value indicates a strong trend, and a low value indicates a weak trend. It is often combined with directional indicators.
The above chart shows the ADX of NU stays above the range of 51, so it indicates a very strong trend.
Conclusion
The NU is one of the cryptos that keeps its ground against the bearish market. Hence more, our long-term NU price prediction for 2021 is bullish. It has a huge possibility f overtaking its current all-time-high (ATH) of $1.10 this year. More so, this will only happen if it breaks many past psychological resistances.
Henceforth, with the ongoing developments and upgrades within the NU ecosystem, it could experience a great future ahead in 2021. It may reach $0.44 soon and it might even reach high heights, however reaching $0.5, if investors have planned that NU is a good investment in 2021
Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
