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Nervos Network Price Prediction

As Bitcoin gains momentum after pushing through $50k, Nervos Network has emerged as one of the best performers in the day. In the last 24 hours, Nervos Network has gained by 16% to trade at $0.008543. 

Nervos is a cryptocurrency that is built around the idea of a fully functional P2P economy. The idea is that, through Nervos, investors can access blockchain services without having to worry about security issues. 

Through Nervos Network, developers can come up with decentralized applications that can run on any blockchain, allowing for mass adoption. Since Nervos Network runs on Proof-of-Work, developers and users are always sure that the network is secure. 

RGB++ Client Is A Big Deal

While such a strong value proposition plays well into Nervos Network’s long term value growth, it is not the reason why the Nervos Network is doing well today. The key trigger to the rally in the last 24 hours is the release of RGB++ client that allows the Nervos Network to work with Bitcoin. 

RGB++ leverages the power of the Bitcoin lightning Network to handle issues of scalability. This, while also leveraging on Bitcoin’s UTXO in building decentralized applications. 

The launch of RGB++ client is a big deal in terms of driving the mass adoption of Bitcoin. That’s because it gives Bitcoin more uses, while at the same time giving value to investors in cryptocurrencies like Nervos Network. 

Developers Hard At Work Within The Nervos Ecosystem

Nervos Network is also gaining traction from the fact that the number of applications being built on it are on the rise. This month alone, developments on Nervos Network have been quite impressive, with Spore Protocol recently announcing that it was going live on the Nervos Network. 

Another Dapp on the Nervos Network called JoyID Wallet recently announced that it had surpassed 200k users. All these are pointers that Nervos Network is not just a random crypto built on speculation, but rather one that is built on solid fundamentals that put it on course to sustainable long-term growth. 

Buy Nervos On Top Exchanges 

The best thing about Nervos Network is that it is easily accessible to investors.  Anyone looking to invest in Nervos Network can do so through the top centralized exchanges such as Binance, Bithumb, Gate.io and KuCoin. 

This ease of access at a time when Nervos Network is a top trending cryptocurrency is a big deal. That’s because FOMO could trigger a surge in buying volumes that could see Nervos Network trade at even higher prices. 

In the section below, we look at Nervos Network’s potential price action now that it has a pumped at a time when bullish momentum is building up across the entire cryptocurrency market. 

Nervos Network Crypto Price Prediction 

Nervos Network Crypto Price Prediction

When going to press, Nervos Network was trading at $0.008604, and a market capitalization of $374.41 million.

News of the RGB++ client has seen Nervos Network surge to a high of $0.01 in the last 24 hours. However, it has since entered a consolidation phase as investors take profit from the pump. 

Nervos Network is currently trading between $0.01, which is now resistance, and $0.008 which is now a key support level. If bulls are able to continue the momentum that had built up earlier in the day and break the $0.01 resistance, Nervos Network could end up making new highs in the day, or within the week. 

However, if buyers are unable to break the $0.01 resistance, two scenarios could play out for Nervos Network. The first one would be a continuation of the consolidation pattern that has started, until a new trigger for upside momentum comes up.

On the other hand, if a selloff ensues and Nervos Network breaks the $0.008 support, then prices below $0.007 could be tested within the day. 

The Case For Nervos Network Making New All-Time Highs

While the three scenarios above could play out in the day, the bullish case for Nervos Network in the day is quite strong. First, Bitcoin has breached $51k confirming that bullish are firmly in control, and are eyeing $60k. This momentum has trickled into the altcoins market, and with Nervos Network being one of the altcoins with big news, buyers are likely to keep rushing in. 

Nervos Network’s intricate connection to Bitcoin, in opening up Bitcoin’s use cases also adds to its likelihood of it trading in the overall direction of Bitcoin.

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