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Bullish$NMR The Numeraire (NMR) currency jumped over 142% to record $19.55 on August 27, the highest level since last December, after the quantitative hedge fund Numerai announced it received a $500 million investment from JPMorgan, before later dropping to around $14.64 as investors moved to take profits.
The new investment raised the fund's assets under management to nearly $950 million, giving the San Francisco project strong institutional momentum and opportunities to boost its future revenues. The daily trading volume of the currency also surged by more than 5,000% to reach $548 million, indicating an unprecedented influx of liquidity.
Technically, the price confirmed the formation of a golden cross on the daily chart, which is a strong bullish signal, but the Relative Strength Index (RSI) reaching 80 has placed the currency in the overbought zone, increasing the likelihood of a consolidation or short-term correction.
The new investment raised the fund's assets under management to nearly $950 million, giving the San Francisco project strong institutional momentum and opportunities to boost its future revenues. The daily trading volume of the currency also surged by more than 5,000% to reach $548 million, indicating an unprecedented influx of liquidity.
Technically, the price confirmed the formation of a golden cross on the daily chart, which is a strong bullish signal, but the Relative Strength Index (RSI) reaching 80 has placed the currency in the overbought zone, increasing the likelihood of a consolidation or short-term correction.