In the next couple of years, the value of the NuCypher project will drastically change from a password storage solution for cryptocurrency users to a lightweight, more secure, decentralized cryptocurrency. Many people want to make money from the NuCypher project, but they do not yet understand the changes it will go through. For example, Masternodes will be a key feature of the NuCypher project in the future.
NuCypher is a blockchain-based network of distributed nodes used for decentralized applications, where a NuCypher is a unique key that allows a user to encrypt and decrypt sensitive information. NU is a cryptocurrency that leverages the security offered by the NuCypher framework. NU has been added to a large number of cryptocurrency exchanges, and is currently ranked as the #7 cryptocurrency by total market cap. This trend is likely to continue as the value of NU is expected to increase in the coming years.
There are many cryptocurrencies in the world today. Some are more profitable than others. Some are more secure than others. Some are more free than others. Monero (XMR) is one that is very profitable, very secure, and very free. The key to all of that is the price. Will it rise or fall? That is what this article will try to answer.
- The range of bullish NU price predictions is $0.37 to $0.44.
- The price of NU may potentially hit $0.5 in the near future.
- For 2021, the NU pessimistic market price forecast is $0.22.
We utilize data, price trends, RSI, and other information about NU to evaluate the cryptocurrency’s future movement in NuCypher price forecast 2021.
NuCypher is a piece of software that aims to provide security and anonymity to decentralized apps based on public blockchains like Ethereum. NyCypher enables developers to store, distribute, and manage private data, and it seeks to provide an interoperable security layer to different blockchains, allowing developers to grant authorization to sensitive data across many dApps.
The native token on the NuCypher network is NuCypher (NU). The tokens are used to reward network members for providing key management services and gaining access to network delegation and revocation procedures.
At the time of writing, the NU price was $0.3285, with a 24-hour trading volume of $29,197,479, according to CoinGecko. Furthermore, NU has dropped by 0.45% in the past 24 hours.
The circulating supply of NU, on the other hand, is 672,000,000.00 NU. NU now trades on Binance, OKEx, Huobi Global, HitBTC, and Hotcoin Global, among other cryptocurrency exchanges.
Price Prediction for NuCypher (NU) in 2021
NuCypher (NU) is currently ranked 21st on CoinGecko. The NU price forecast for 2021 is shown here, along with a daily time period.
Between upward sloping parallel lines, there is an upward channel trend. This price pattern is characterized by higher highs and lower lows. Channel trends are often used to validate trends as well as to spot breakouts and reversals. An unequivocal upswing may be seen in the ascending channel trend. Traders may trade in the direction of a breakout or swing trade between the pattern’s support and resistance levels.
If the NU price breaks over the $0.37 resistance level on the hourly time frame chart, it will hit the $0.44 goal. Otherwise, if the NU price breaks through the $0.33 support level, it will fall to the next support level at $0.27. As a result, the NU’s trend is predicated on the breakout.
Support and Resistance Levels for NuCypher (NU)
NU’s support and resistance levels are shown in the chart below.
Support and Resistance Levels for NU/USDT (Source: TradingView)
The resistance and support levels of NU are clearly visible in the above daily time frames.
- $0.37 is the first level of resistance.
- $0.44 as a level of resistance
- Level 1 Support – $0.33
- Level 2 Support – $0.27
- Level 2 Support – $0.20
Furthermore, the chart reveals that NU has been on a bullish trend for the last month. If the current trend continues, NU may be able to catch up with the bulls and break over its resistance level at $0.44.
As a result, if investors turn against cryptocurrency, the NU’s price may drop to almost $0.20, indicating a negative indication.
Average Directional Index of NuCypher (NU) (ADX)
Let’s look at NU’s average directional index (ADX). The Average Direction Index (ADX) is a tool that traders use to assess the strength of a trend rather than its direction. It may be used to see whether the market is shifting or if a new trend is beginning. It contains the ADX line and is linked to the Directional Movement Index (DMI).
The oscillator has a range of 0 to 100. A strong trend is indicated by a high value, whereas a weak trend is shown by a low value. It is often used in conjunction with directional indicators.
The ADX of NU remains above the range of 51 in the chart above, indicating a very strong trend.
The NU is one of the cryptos that has managed to hold its ground in a negative market. As a result, we have a positive long-term NU price forecast for 2021. This year, it has a good chance of surpassing its current all-time high (ATH) of $1.10. This will only happen if it overcomes numerous previous psychological barriers.
As a result of the continuous improvements and enhancements inside the NU ecosystem, it may have a bright future in 2021. It may hit $0.44 shortly, and much higher, but it could even reach $0.5, if investors believe NU is a solid investment in 2021.
Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.
The recent price release of NU by NuCypher has been a positive sign that the team is working tirelessly to develop and launch their x2 scaling technology. The tech has been hard at work running on live nodes and there is a good chance of reaching $0.5 soon.. Read more about is nucypher a good investment and let us know what you think.
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