Numeraire (NMR) Price Prediction 2023-2030: Will NMR Price Hit $35 Soon?

• Bullish Numeraire (NMR) price prediction ranges from $24 to $35.
• Analysis suggests that the NMR price might reach above $33.
• The NMR bearish market price prediction for 2023 is $7.8.

What is Numeraire (NMR)?

Numerai is an Ethereum-based platform that enables developers and data scientists to innovate and experiment in order to create machine learning models with improved reliability. The platform aims to bring decentralization to the data science field in order to enable developers to compete in creating effective machine learning models. 

Founded in late 2015 in San Francisco by Richard Craib who is the founder and CEO of Numerai, Numeraire is the first hedge fund to launch a cryptocurrency on the market. 

Numerai and the Numeraire token are unique due to the ideation behind their creation. This is reportedly the first cryptocurrency to be created and released by a hedge fund. One of the uses of MNR tokens is that it is awarded to data scientists whose models perform well in the Numerai tournament. This means that the token will increase in price as more people enter the tournament and start competing.

Numeraire (NMR) Market Overview

Numeraire (NMR) Current Market Status

The maximum supply of Numeraire (NMR) is 11,000,000 NMR, while its circulating supply is 6,321,726 NMR, according to CoinMarketCap. At the time of writing, NMR is trading at $16.62 representing 24 hours decrease of 16.27%%. The trading volume of NMR in the past 24 hours is $171,045,924 which represents a 16.5%  decrease.

Some top cryptocurrency exchanges for trading NMR are Binance, DigiFinex, and Bilaxy.

Now that you know NMR and its current market status, we shall discuss the price analysis of  Numeraire (NMR) for 2023.

Numeraire (NMR) Price Analysis 2023

Will the NMR blockchain’s most recent improvements, additions, and modifications help its price rise? Moreover, will the changes in the payment and crypto industry affect NMR‘s sentiment over time? Read more to find out about NMR’s  2023 price analysis.

Numeraire (NMR) Price Analysis – Bollinger Bands

The Bollinger bands are a type of price envelope developed by John Bollinger. It gives a range with an upper and lower limit for the price to fluctuate. The Bollinger bands work on the principle of standard deviation and period (time). 

The upper band as shown in the chart is calculated by adding two times the standard deviation to the Simple Moving Average while the lower band is calculated by subtracting two times the standard deviation from the Simple Moving Average.

When looking at the chart above we can see that the bands have widened currently. Moreover, NMR has gone above the upper Bollinger band and it is extremely overbought. Hence, there is a great chance that the NMR could fall right band into the range of the Bollinger bands. The building selling pressure for NMR shows that this could happen faster as there could be spotted large red candlesticks.  

Numeraire (NMR) Price Analysis – Relative Strength Index 

The Relative Strength Index is an indicator that is used to measure whether the price of a cryptocurrency is over or undervalued. For this purpose, it has two extreme regions known as the overbought and oversold regions. 

When the RSI reads a value (>70) then the crypto is overbought, which means that due to more buying the demand has increased as such the price has also increased. On the other hand, when it is oversold, many are selling, as such, its price is undervalued.

When looking at the chart above, we could see that the RSI is returning towards the normal fluctuation range from being in the overbought region. Currently, the RSI is at 64 and the line is heading southwards as such we could expect the RSI to fall lower. Moreover, the building selling pressure also says that the RSI falls even lower. 

Additionally, the RSI could also be used to spot divergence. Usually, the RSI copies the movement of the cryptocurrency almost most of the time. But, for instance, there could be occasions where the crypto makes a higher high while the RSI makes a lower high. In this scenario, the RSI could be considered as showing a bearish divergence sign. 

Numeraire (NMR) Price Analysis – Moving Average 

The exponential moving average is not much different from the simple moving average. The EMA gives more weightage to the present prices while the SMA equally distributes the values to the frequency. Hence, when the EMA is plotted in the graph it gives a rough idea about how the cryptocurrency has been performing in the past. 

Moreover, the 50-day EMA is considered the short-term length, and the 200-day EMA is considered the long-term.  Whenever the 50-day EMA crosses the 200-day EMA from below it is called a Golden cross, while if it crosses from above, then it is a death cross. However, in this case, we will be using the 50-day EMA as the long-term length and the 10-day EMA as the short-term length.

When looking at the overall picture for NMR, we can see that the token has been bearish in the recent past. This is because both moving averages are titling toward the downward direction and NMR has been trading below those two EMAs. However, NMR seems to have spiked past both EMAs. As such it can be considered bullish. But, when noticing the movement of NMR, we could see it moving downwards. Furthermore, there is some selling pressure building on NMR. As such, there is a high chance that NMR could resort to help from the 200-day EMA. 

However, in the event that the 200-day EMA is unable to hold NMR, then it may seek the help of the 50-day EMA for support. 

Numeraire (NMR) Price Prediction 2023-2030 Overview

Numeraire (NMR) Price Prediction 2023

When looking at the chart above, we can see that NMR rose drastically after it broke out from the falling wedge. However, currently, we can see that there is some selling pressure building from NMR. If this continues then NMR may seek support. 

The first spot that NMR could seek support is from $14.25. Nonetheless, if support is denied there then NMR may crash to $7.8 breaking through $11. On the other hand if this spike is upheld by the traders and the buyers keep accumulating NMR, there is a big possibility that NMR could break the resistance at $24 and move over to $33. 

Currently, NMR is fluctuating in a region where there is more buying and selling activity. As such there is a likelihood of price fluctuating drastically in this area. Above this area and below this area there seems to be less trading volume, hence, even if NMR rises or crashes, this particular prices range is a solid base for traders to enter. 

Numeraire (NMR) Price Prediction – Resistance and Support Levels

When considering the above chart, we can see how NMR reached its maximum price in May 2021. Notably, the year 2021 was special because it brought the after math of BTC halving in the form of an exponential spike. Thereafter, NMR has been crashing down just below the 2:1 Gann line. It received support only in July 2022 and thereafter it seems to be moving sideways. Currently, it tried to test the 3:1 Gann line but it wasn’t. 

Numeraire (NMR) Price Prediction 2024 

There will be Bitcoin halving in 2024, and hence we should expect a positive trend in the market due to user sentiments and the quest by investors to accumulate more of the coin. However, the year of BTC halving didn’t yield the maximum for NMR based on the previous halving. Hence, we could expect NMR to trade at a price, not below $54 by the end of 2024.

Numeraire (NMR) Price Prediction 2025

NMR  may experience the after-effects of the Bitcoin halving and is expected to trade much higher than its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, NMR will continue to rise in 2025 forming new resistance levels. It is expected that NMR will trade beyond the $120 level.

Numeraire (NMR) Price Prediction 2026

It is expected that after a long period of bull run, the bears will come into power and start negatively impacting the cryptocurrencies. During this bearish sentiment, NMR could tumble into its support regions. During this period of price correction, NMR could lose momentum and be way below its 2025 price. As such, it could be trading at $67 by 2026. 

Numeraire (NMR) Price Prediction 2027

Naturally, traders expect a bullish market sentiment after the crypto industry was affected negatively by the bears’ claw. Moreover, the build-up to the next Bitcoin halving in 2028 could evoke excitement in traders. However, there’ll be a dip in price before the excitement will be reciprocated in NMR. As such, we could expect NMR to trade at around $85 by the end of 2027. 

Numeraire (NMR) Price Prediction 2028

As the crypto community’s hope will be re-ignited looking forward to Bitcoin halving like many altcoins, NMR  may reciprocate its past behavior during the BTC halving. Hence, NMR would be trading at $110 after experiencing a considerable surge by the end of 2028. 

Numeraire (NMR) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market will gradually become stable by this year. In tandem with the stable market sentiment, NMR could be trading at $175 by the end of 2029.

Numeraire (NMR) Price Prediction 2030

After witnessing a bullish run in the market, NMR and many altcoins would show signs of consolidation and might trade sideways and move downwards for some time while experiencing minor spikes. Therefore, by the end of 2030, NMR could be trading at $163

Numeraire (NMR) Price Prediction 2040

The long-term forecast for NMR  indicates that this altcoin could reach a new all-time high(ATH). This would be one of the key moments as HODLERS may expect to sell some of their tokens at the ATH point. 

If they start selling then NMR  could fall in value. It is expected that the average price of NMR could reach $334 by 2040.

Numeraire (NMR) Price Prediction 2050

Since Cryptocurrency will be revered and widely accepted by most people during the 2050s, we will see the masses believe more in it. As such,  NMR could reach $504.

Conclusion

If investors continue showing their interest in NMR and add these tokens to their portfolio, it could continue to rise. NMR’s bullish price prediction shows that it could reach the $33 level.

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.