$NMR : Complete Analysis of the Upward Movement and Future Projections

Numeraire ($NMR) has shown a strong upward movement, appreciating an impressive 12.8% in just three days, rising from $7.99 on August 20 to approximately $9.07 on August 23. This increase was driven by a combination of technical and fundamental factors:

Driving Factors:

* Market Optimism: The broader crypto market is reacting positively to potential ETF approvals and signs of macroeconomic relief, creating a favorable environment for assets like $NMR.

* On-chain Fundamentals: On-chain metrics show an increase in staking activity and a reduction in sell pressure, indicating growing interest and long-term conviction from holders.

* Institutional Adoption: Numerai's AI-based hedge fund model and its applications in decentralized machine learning continue to attract growing institutional interest.

Technical Analysis and Strategies:

* Key Levels to Watch: The current price is approaching the main resistance level at $9.43. A confirmation of a breakout at this point would be a strong signal for the continuation of the upward movement.

* Price Projection: Technical analysis suggests that if the momentum continues, the price could reach the range of $16.39 to $17.49 by the end of the year.

* Support and Entry: A strategic support level for those looking to accumulate long-term is around $8.60.

* Attention to Indicators: It is crucial to watch for signs of divergence in the RSI (Relative Strength Index), which may indicate a possible loss of momentum.

Although technical indicators suggest ongoing buying pressure, it is important to note that the entirety of the 78% increase mentioned in some reports has yet to be confirmed. As with any crypto investment, volatility is high. Always do your own research before making investment decisions. #Write2Earn