NuCypher Price Prediction – Will NU Price Hit $5 in 2021?

This NuCypher (NU) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our NU price analysis and prediction.

The crypto industry continues to grow. Many crypto projects pursue improvements to their technologies to stay competitive. Over the past few weeks, the crypto market seems to be consolidating. At the moment, it seems that the crypto industry might finally be on the upswing again.

Will NU experience the same price volatility? We’ll find out soon in this NU price analysis 2021 article. But first, let’s have a look at what NU is.

What is NuCypher (NU)?

NuCypher is a cryptographic service for public blockchains that offers decentralized encryption, access control, and key management. The NuCypher platform supports end-to-end encryption and decentralized data storage on public blockchains.

By using proxy re-encryption (PRE), NuCypher allows users to share private information on public consensus networks. With this decryption technology, NuCypher is much safer and more secure than traditional blockchain projects that use public-key encryption.

A native token, NU, is used on the NuCypher network. Participants in the network are rewarded with tokens for performing key management services and gaining access to delegation/revocation operations.

A NuCypher worker node is also staked using NU tokens. In NuCypher, all staking rewards are automatically slashed in the case of suspected malicious staking.

As part of the NuCypher DAO, NU is also used to participate in the network’s smart contract upgrades and to control network parameters. In the process of validating the DAO proposals, NU holders can also stake their coins.

Now that we are clear about NU do you think NU will be beneficial crypto in 2021? Join me and let us see the charts in this NU price analysis and NU price prediction.

NuCypher (NU) Current Market Status

As of the time of writing this NuCypher price analysis, NU trades at $0.916 with a 24-hour trading volume of $342,074,066. The price of NU has decreased by 1.78% in the last 24 hours.

Currently, the top cryptocurrency exchanges for NU are Binance, OKEx, Huobi Global, Mandala Exchange, and Bybit. Now, let’s go to the next part of this NU technical analysis for 2021.

NuCypher (NU) Price Analysis 2021

Currently, NU holds 144th place on CoinMarketCap. But will the latest upgrades, development, and changes in the NU blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this NU price prediction article.

As seen in the above chart, which is set in a daily time frame, we can see a Descending Triangle Pattern. This is an important indicator since NU has been showing bearish over the past month. Consequently, the descending triangle pattern hints that NU will finally go bearish.

In the foreseeable future, we can say that NU has a higher chance of going bearish than bullish. As shown above, at the beginning of this month, NU turned from its bear to bull trend. This was the result of high trading activity during that period.

The Relative Strength Index (RSI) is at 51.47, which means that NU is in neither overbought nor oversold state. Due to this, traders must remain cautious while trading in order to avoid further losses.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of NU.

Since the start of 2021, NU’s price has seen many bullish moves which are higher than the previous one. As part of this, there are fluctuations, consolidations, and corrections following right away. Taking this into consideration, NU has a competitive market this 2021.

NuCypher (NU) Price Prediction 2021

The chart below shows that NU has performed great over the past few days. Moreover, the NU price shows a bullish trend. If this trend continues, NU might run along with the bulls, overtaking its $2.78 resistance level and moving even higher to $3.

Alternatively, if the investors turn against the crypto, the bears could take over and push NU away from its uptrend position. In simpler terms, the price of NU might decrease to almost $0.25, a bearish signal.

Meanwhile, our long-term NU price prediction 2021 is bullish. It has a high possibility of reaching new heights. However, that will only happen if it breaks many previous psychological resistances.

NuCypher (NU) Price Prediction by 2022

If this bullish trend continues, NuCypher will reach $7 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $7.5. There will be a slowdown of this rise, but no major fall in prices is anticipated. With upcoming, partnerships, and developments reaching $7 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

NuCypher (NU) Price Prediction by 2023

If NU holds the support level around 200-MA, the long-term moving average of 200 days firmly, buyers will then have ample time and stability to forge the next attack mission on the vital level at $10, making it not plummet but play consistently.

NuCypher (NU) Price Prediction by 2024

As per the latest upgrades, developments, NU price prediction, and new project forecasts of the platform, NU investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of NU in the crypto market, and it will be the best investment as the price can spike and reach around $15.

NuCypher (NU) Price Prediction by 2025

In the next four years, NU price could race up to $25. However, reaching this level could not be so difficult for NU as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that NU has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

NuCypher has a bright future ahead of it in 2021. With the ongoing developments happening within the NU ecosystem, as well as in the overall crypto market, we may see NU reach new heights.

Bullish NU price prediction 2021 is $2.78. As said above, it may even reach $5 if investors have decided that NU is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

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Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.