- NMR token Numeraire falls 25% amid profit-taking.
- The native Numerai token recently spiked after a $500 million investment by JPMorgan.
- NMR price could drop to $15 and faces resistance near $18.
As top coins struggle with selling pressure, Numeraire (NMR) has retraced recent gains, tumbling roughly 25% in the past 24 hours.
Like many assets that saw rapid rallies, NMR was sold off as traders locked in profits.
NMR traded around $16.36 at the time of writing, slipping as Bitcoin weakened and Ethereum fell below $4,400.
Friday’s PCE inflation data—showing prices rose in July versus June and reached levels not seen since early 2025—weighed on equities and contributed to the broader risk-off move that pushed cryptocurrencies lower.
Numeraire price drops 25% amid profit-taking
Numeraire, the ERC-20 token that powers Numerai’s AI-driven hedge fund platform, recently surged to highs above $22.80.
The token’s explosive move, including a 150% one-week gain, was largely driven by news of a $500 million investment from JPMorgan Asset Management.
Institutional backing helped grow Numerai’s assets under management toward $1 billion, raising NMR’s profile and drawing significant trader interest. The price rallied from a low of $8.11 to multi-month highs near $22.87 across major exchanges.
Daily trading volume also spiked as bullish sentiment dominated.
However, profit-taking contributed to the subsequent 25% pullback, with sellers targeting levels below $16. The reversal coincided with a 64% drop in trading volume, which now sits near $340 million.
Lower volume during the sell-off is a mixed signal: it suggests selling pressure didn’t accelerate, but it also indicates reduced market participation from buyers looking to buy the dip.
What’s next for Numeraire price?
With NMR trading around $16.36, technical indicators point to a bearish setup that could open the door to further declines.
The token has slipped beneath the upper Bollinger Band near $18.60, and the Relative Strength Index (RSI) is below the neutral line, signaling waning momentum.
On the daily chart, immediate support sits around $15, the zone where the recent breakout candle formed.
If that support fails, the next key level to watch is $14.57, with a deeper drop potentially testing $10.50, a scenario some analysts have mentioned as possible into September 2025.
Resistance now appears near $18, with stronger barriers around $20—a psychological level that matches late-2024 highs.
A sustained break above $18 could signal a reversal, but the current downside bias and declining volume advise caution.
Broader market sentiment and Numerai’s ability to convert the JPMorgan investment into sustained growth will be crucial for NMR’s next directional move.