How Nervos Network (CKB) and Elrond (EGLD) Backers are Engaging with Zig Network (ZIG)

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Oct 23 2024

Should l Buy CKB?

Market Trends and Token Performance: The crypto market is accessible to all investors, but success often depends on having the right information. Recent analysis shows Nervos Network (CKB) has experienced a decline despite significant growth over the past year, while Elrond (EGLD) has also seen losses, prompting investors to consider diversification with promising options like Zig Network (ZIG).
Zig Network's Potential: Zig Network (ZIG) is gaining attention for its potential high returns and passive income opportunities, with experts projecting a possible 10x return on investments at its current low price of $0.01. Its transparency measures and locked liquidity make it an attractive choice for investors looking to diversify from CKB and EGLD.

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Technical Analysis for CKB

Technical Sentiment Analysis for Nervos Network (CKB) As of , Nervos Network (CKB) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for CKB stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, CKB is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Nervos Network (CKB) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.000731	0.00107	0.0014	0.00173	0.00206	0.0024	0.00273
Fibonacci	0.00107	0.00132	0.00148	0.00173	0.00199	0.00214	0.0024

About CKB

Nervos Network (CKB) is an open-source public blockchain ecosystem. Its goal is to create a peer-to-peer (P2P) crypto-economy network where users can access a wide range of provably secure blockchain services and capabilities.The Nervos mainnet launched in November 2019 with a novel dual-layer architecture. There’s a base layer where the consensus mechanism operates and smart assets are stored, and a computation layer where transactions are processed.The base layer, also known as the Common Knowledge Base, has its own cryptocurrency called CKByte (CKB). It uses the Proof-of-Work (PoW) consensus mechanism and drives the Nervos ecosystem. It is used to pay miners for keeping the network safe, managing network resources, and letting users store things on the network.The Nervos Network allows developers to create decentralized applications (dApps) that can operate on various blockchain systems. Any of the network layers can be used to run both decentralized apps and smart contracts.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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