NKN Price Prediction – Will NKN Price Hit $2 in 2021?

This NKN 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 NKN price analysis and prediction.

Among the cryptocurrencies that are rallying this year, NKN is perhaps one of the most surprising for some. This cryptocurrency is not directly connected to Bitcoin, nor is it the most hyped cryptocurrency today. But for those that are aware, NKN has been around since December 2019.

Can NKN reach $ in 2021? We will find out shortly. But before we proceed to our NKN analysis, let us first answer the question “What is NKN?” in this NKN prediction 2021 article.

What is NKN (NKN)?

NKN, or New Kind of Network, is an open-source protocol that creates public blockchain-based peer-to-peer networks for sharing network bandwidth and Internet connectivity.

The project was launched in January 2018 and is advised by Stephen Wolfram, the inventor of Mathematica and Wolfram Alpha, as well as Whitfield Diffie, the inventor of public-key cryptography. As of July 2019, the NKN Mainnet has 25,000 full consensus nodes (more than Bitcoin or Ethereum).

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

NKN Current Market Status

As of the time of writing this NKN price analysis, NKN trades at $0.3668 with a 24-hour trading volume of $11,111,274. The price of NKN has decreased by 5.10% in the last 24 hours.

Furthermore, NKN has a current circulating supply of 700,000,000 NKN. Currently, the top cryptocurrency exchanges for NKN are Binance, Huobi Global, KuCoin, Mandala Exchange, and Bitget.

Now, let’s proceed to the next part of this NKN technical analysis for 2021.

NKN Price Analysis 2021

Currently, NKN holds 165th place on CoinMarketCap. But will the latest upgrades, development, and changes in the NKN blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this NKN price prediction article.

In the chart above, which is set in a daily time frame, we can see the Ascending Channel Trend pattern. An ascending channel is the price action that takes place in an upward direction through a rising parallel line. More so, the chart shows the Higher High and Higher Low forms this price pattern. Moreover, the pattern represents a short-term bullish.

As shown above, at the beginning of this month, NKN turned from its bear to bull trend. This is the result of the high trade volume that happened in that period.

The Relative Strength Index (RSI) is above 36.7, which means that NKN is in a nearly oversold state. With this traders need to stay cautious while trading, turning away from further losses.

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

Since the start of 2021, NKN’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, NKN has a competitive market this 2021.

NKN Price Prediction 2021

The chart below shows that NKN has performed great over the past few days. Moreover, the NKN price shows a bullish trend. If this trend continues, NKN might run along with the bulls, overtaking its $1.75 resistance level and moving higher.

Conversely, if the investors turn towards crypto, the bears might take over and push NKN from its uptrend position. In simpler terms, the price of NKN might plummet to almost $0.33, a bearish signal.

Meanwhile, our long-term NKN price prediction for 2021 is bullish. It has a high possibility of reaching new heights. More so, this will only happen if it breaks many past psychological resistances.

NKN Price Prediction 2022

If this bullish trend continues, NKN will reach $3.5 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $4. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $3.5 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

NKN Price Prediction 2023

If NKN 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 $7, making it not plummet but play consistently.

NKN Price Prediction 2024

As per the latest upgrades, developments, NKN price prediction, and new project forecasts of the platform, NKN investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of NKN in the crypto market, and it will be the best investment as the price can spike and reach around $10.

NKN Price Prediction 2025

In the next four years, NKN’s price could race up to $15. However, reaching this level could not be so difficult for NKN as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that NKN has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

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

Bullish NKN price prediction 2021 is $2. As said above, it may even reach its new ATH if investors have decided that NKN is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

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.