KEY TAKEAWAYS
JPMorgan made a $500 million commitment to Numerai.
The Numeraire (NMR) price increased by 150% afterward.
Has NMR finally started a bullish trend reversal?
Numerai, the AI-powered hedge fund, has secured a major vote of confidence.
JPMorgan has committed $500 million to its strategy.
The deal marks a milestone moment for the San Francisco–based firm, which has grown its assets under management from $60 million to $450 million in just three years, delivering a 25.45% net return in 2024.
With Wall Street now backing its model, Numerai is stepping closer to the mainstream — and its token, Numeraire (NMR), has surged 150%, pushing toward a breakout from long-term resistance.
Numeraire Price Analysis
NMR recently fell to an all-time low in April, bottoming at $5.89, the first time it had dropped below $6 since March 2020.
Numeraire’s decline caused a breakdown below the $8 horizontal support area, which did not last long.
On the contrary, the NMR price created a higher low (black circles) before reclaiming the area in July.
Today, Numeraire is attempting to break out from a descending resistance trend line that has existed since the start of 2024.
NMR has moved well above the trend line, but needs to close above $13 to confirm the bearish trend is over.
Momentum indicators are also rallying. The Relative Strength Index (RSI) is above 50, and the Moving Average Convergence/Divergence (MACD) is nearly positive.
If a breakout happens, the next resistance will be at $26.
So, the NMR price prediction is bullish, and a close above the diagonal trend line is likely, creating a horizontal range below $26.
Short-Term NMR Correction
The daily time frame technical analysis shows that NMR is completing a short-term pullback before it resumes its ascent.
Numeraire’s wave count suggests that the price completed sub-wave three of wave three (green), in a five-wave rally that began in April.
If the count is accurate, the short-term NMR correction could end near $13, completing a fourth-wave pullback.
Afterward, a potential target for wave three is $24.43, giving it 2.61 times the length of wave one.
In any case, the NMR wave count suggests the bullish trend is not over, and NMR will increase until it finishes its five-wave rally, which could take until the end of the year.
New Highs Likely
After positive news regarding a JPMorgan investment, the Numeraire price surged by 150%.
NMR is breaking out from a long-term diagonal resistance and could reach $24.50 soon.
