Numeraire Price Prediction 2021 – Will NMR Hit $100 Soon?

Numeraire Price Prediction 2021 - Will NMR Hit $100 Soon?
  • Bullish NMR price prediction ranges from $51.32 to $96.
  • The NMR price might also reach $100.
  • NMR bearish market price prediction for 2021 is $37.20.

In NMR price prediction 2021, we use statistics, price patterns, ADX, and much other information about NMR to analyze the future movement of the cryptocurrency

Numeraire is an Ethereum token that powers Numerai, a San Francisco-based investment firm. It uses crowdsourcing to invest in major stock markets around the world. Numeraire (NMR) token holders can stake their NMR tokens on specific predictions every week.

Current Market Status of Numeraire (NMR)

According to Coingecko, the price of NMR is $41.35 with a 24-hour trading volume of $18,560,425 at the time of writing. However, NMR surged to 5.13% in the last 24 hours.

Moreover, NMR has a circulating supply of 9,932,662 NMR coins. Currently, NMR trades in cryptocurrency exchanges such as Binance, OKEx, Upbit, Hotcoin Global, and HitBTC. 

Numeraire (NMR) Price Prediction 2021

Numeraire (NMR) holds the 144th position on CoinGecko right now. NMR price prediction 2021 explained below with a daily time frame. 

NMR/USDT Descending Triangle Pattern (Source: Tradingview)

The descending triangle is most commonly seen during downtrends and is often interpreted as a bearish signal. The ascending triangle pattern is reversed in the descending triangle pattern.

As the price continues to make lower highs, descending triangles indicate to investors and traders that sellers are more aggressive than buyers. When the price breaks out of the triangle in the direction of the overall trend, the pattern is complete.

Contrary to popular belief, a descending triangle can be bullish or bearish. A regular descending triangle pattern is traditionally regarded as a bearish chart pattern. A descending triangle pattern, on the other hand, can be bullish.

Currently, NMR is trading at $41.35. After this, NMR may continue to fall or rise according to the direction of breakout. With this pattern, NMR might reach the resistance level at $91.45 soon, if the trend breaks out at $43.95. If the trend reverses, then the price of NMR may fall to $37.20.

Numeraire (NMR) Support and Resistance Level

The below chart shows the support and resistance level of Numeraire (NMR). 

NMR/USDT Support and Resistance Level (Source: TradingView)

From the above chart, it is observed that the following are the resistance and support level of NMR.

  • Resistance Level 1 – $51.32
  • Resistance Level 2 – $73.80
  • Resistance Level 3 – $96.00
  • Support Level 1 – $37.20
  • Support Level 2 – $24.85

The chart depicts the bearish performance of NMR over the previous month. However, this trend will continue to reach resistance level at $91.45 soon. On the contrary, if the trend reversed then NMR might fall to $37.20 presenting a bearish signal.

Numeraire (NMR) Average Directional Index (ADX)

Let us now look at NMR’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also be used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it is frequently combined with directional indicators.

NMR/USDT ADX (Source:TradingView)

The above chart represents the ADX of NMR with the range at 61.84, so it indicates a very strong trend.

Conclusion

The NMR is one of the cryptos which is great for long-term investment. In addition, NMR price prediction will be bearish or bullish, until the breakout direction is confirmed. But, it has a good chance of reaching $91.45 this year. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the NMR ecosystem, the performance of NMR would rise reaching $91.45 very soon. But, it might also reach $100 if the investors believe that NMR is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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