Nest Protocol Token (NEST/USD) surged 50% on Tuesday before cooling off slightly. The token saw an increase in trading volume with a positive 24-hour change of 326%. We now examine this exciting token and its protocol in more detail.
Nest Protocol serves as a Web3 infrastructure platform. It facilitates the generation and programming of stochastic properties. the stage is set Ethereum, NEST, an Ethereum-based token, drives the protocol. This helps in meeting the liquidity needs of the platform. The token also serves as a reward mechanism for users who provide accurate price quotes on the protocol.
Nest Protocol Token is ranked #190 on Coinmarketcap with a total valuation of $76.64 million. The circulating supply of the token is 2.91 billion tokens, while its maximum supply is capped at 10 billion.
No clear fundamentals were driving up Nest’s price. The token saw a rise on the social trading platform. Will the bubble burst?
NEST Token Price Analysis Amid Increased Retail Interest
A technical view from NEST shows that the token is overbought with an RSI at 77. The cryptocurrency found resistance at $0.038, which resulted in the formation of tailed bars.
Looking at the general trend, the price momentum of Nest is bearish. The cryptocurrency has been witnessing erratic bullish pop-ups that have been volatile. As a result, a sharp correction can occur.
Should you buy Nest?
Buying Nest is speculative because the price lacks clear fundamentals. A potential bubble could burst after intraday gains cryptocurrency Stay in the bear market.
For a sustainable bullish momentum, NEST must clear the $0.038 resistance. This will depend on clear fundamentals emerging that will support higher price amid a bear crypto sentiment. On the downside, the level to watch is $0.016.
where to buy nest
swapzone
Swapzone is a crypto exchange aggregator that serves as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide users with a user-friendly interface, secure user flow and crystal-clear data to find the best exchange rates across the entire cryptocurrency market.
Buy NEST with Swapzone today
Huobi
Begin your cryptocurrency journey today. Huobi Global has a variety of features that make it an ideal place to buy and sell digital assets.
Buy Nest with Huobi today