NuCypher is an Ethereum token that can be staked to run a node on the NU network. It describes itself as a threshold cryptography network that delivers decentralized apps and protocols with data privacy and key management.
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NuCypher Price Prediction: Introduction
We use price action patterns, statistical modeling, and expert counsel to make the best NuCypher price prediction. With the growth in the adoption of decentralized applications, security and privacy are of growing concern. So NuCypher is here to add a layer of privacy and security to public blockchains.
At the time of writing this piece, NuCypher was trading at $0.389476, according to data from CoinStats. That figure brings the market cap to $380.1M, whereas the fully diluted market cap to $1.5B.
The NuCypher token (NU) is the currency that will bankroll the security and privacy enhancements on public blockchains. Investors are keenly watching NU price predictions waiting for the first indication that NuCypher will hit $0.5 and possibly $1.
NuCypher Price Prediction: Technical Analysis
NuCypher price is approaching, breaking the overhead resistance between $0.281 and $0.271. However, a higher level typically attracts selling from traders that could threaten NU, which has trended downwards at a somewhat slow pace. NU has turned down slowly ever since, attempting an all-time high at $1.14 and $0.958 and the 61.8% Fibonacci level.
It almost looked like NU was going to avoid plunging even deeper at the key support range of between $0.177 and $0.174, which dates back to February 2021. For a short while, the bulls purchased the drop to the 200-day moving average, but they have not been able to build momentum on it. This shows a lack of demand for NuCypher at higher levels, which could spell doom on NU price predictions 2021.
Should NU continue to pull below the 200-day moving average, the selling could intensify, and the trading pair could decline further. Conversely, if the price rebounds off the moving average, it will reveal that the bulls continue to accumulate on the dips. The bulls may again try to push NU’s price towards the $0.45 to $0.50 range.
The NuCypher price prediction 2021 shows that the crypto is trading along the support line, indicating that the bears have the upper hand. This trading pair could challenge the psychological support at $0.26, and the bearish momentum could pick if this support cracks. A break and close above $0.45 will be the first sign of strength.
In the meantime, NuCypher remains trading in consolidation between $0.36 and $0.26. The buyers pushed and closed the price above the range’s resistance on September 6th, just like many other cryptocurrencies, but the break proved to be a bull trap for all. After a dip back into consolidation, the buyers defended support as bears pulled the price down, evident by the long tail.
For the time being, relative strength has remained in the negative zine, and the 20-day moving average has started to turn down, which can be interpreted as a weakness of the path of least resistance. If the price breaks below $0.26, the selling could intensify, pushing the next support to $0.22.
The ascending channel trend exhibited in Q3 2021 is no more. The movement is broken, and consolidation might signal the start of a new trend that could impend on NuCypher price prediction.
NuCypher Price Prediction: Market Opinions
The experts have aired concerns and opinions on NuCypher price prediction for 2022. But, with a market capitalization of over $1 billion, you bet that more experts are watching this cryptocurrency, which could bolster public blockchains and make them safer for all.
According to WalletInvestor, NuCypher will go up but fail to fight off seller pressure to settle for $0.35 within a year. However, even with this small change in NU price prediction, WalletInvestor notes that investors can expect more than a 28% gain on their ownership of these tokens.
On a similar note, Gov.Capital also projects growth in value for NuCypher, forecasting a token price of $0.5 in the next year. The projection is that NU could experience a significant dip in mid-May 2022, where selling pressure with a crash the support line at $0.22.
An analysis by CoinDataFlow of NuCypher price prediction reveals a possibility that NU could be valued between $0.357 and $0.626 in 2022. The range falls within the forecast of other systems, which adds a layer of confidence. The prediction goes further to project 2023 as the most likely year for NU to break past the $1 resistance.
Digital Coin Price
DigitalCoinPrice experts don’t expect NuCypher to make any significant moves in the month leading up to 2022. Based on their analysis, NuCypher could end 2022 at $0.414 and maintain the same upward momentum throughout 2022 but fail to break past $0.489.
The News Crypto
The expert advice offered by The News Crypto sheds some light on the future of NuCypher, where the analysts predict NU could be valued at $0.44 within a year. Moreover, the team does not dispel the possibility that a test and confirmation of $0.5 is likely with the risk of price rejection.
According to the analysis by SwapSpace, the most likely NU price prediction is $0.423 on the lower side and $0.695 on the higher side. This price prediction shows that projections are rather contradictory. In this case, the fundamental might have a stronger role to play in the future of NuCypher.
Famed cryptocurrency analyst Elarchote believes NuCypher is making small moves to a target price of $0.34 before the end of 2021. However, a pending retest of the support line at $0.277 could prove fatal as prices continue trending. All in all, the best NU price prediction is between $0.31 and $0.341.
Likewise, Pilatuz suggests waiting for at least two retests of the support line at $0.264 before taking up the buy signal aiming for a sell-off point at $0.371. A possibility of a price rejection of a short-lived reversal is highlighted at $0.236. That said, this crypto analyst is bullish on the future of NuCypher, but skeptical of the chances that NU can make any seismic moves.
Latest News and Happenings Concerning NuCypher
An exciting prospect for the future of NuCypher price prediction is that the future of public blockchains seems multi-layered. This feature will be critical in making blockchains as interoperable as possible. Already NuCypher is working on a Polkadot bridge with a grant from the Web3 foundation. Here Polkadot price prediction has an important role. Combined with the efforts to make the current NuCypher version a fully 100% browser experience, this platform will be a more robust developer stack for developers building dApps.
In June, the Proposal RC0 was approved by NuCypher stakes and stakeholders. The staking contract for KEaNU and the associated adapters are being implemented. NuCypher is breaking new ground as a community, and reaching such milestones is incredibly exciting and good news for NU price predictions. With this, the community now has clarity on the path forward for NuCypher and a roadmap to completing the objective and sustainability of its mission.
Meanwhile, Keep Network’s token prices have remained in consolidation for more than 75 percent from their peak, causing investors to expect another breakout. The news is also bolstered by the NuCypher merger, which could reshape the landscape of public blockchain privacy and security.
NuCypher Price Prediction: Verdict
Perhaps it is a bit sad that NuCypher price prediction seems contradictory and paints a somewhat grim picture of the future of NU. Still, if you assume that more than half the number of cryptocurrencies are yet to attaint billion-dollar market caps, NU price prediction is not so bad. NuCypher price prediction 2021 makes an excellent case for why NU was an exciting investment opportunity within the crypto world in 2022.