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The native token of the Nervos Network, CKB, has reached its three-year-high price level despite the bearish sentiment in the <a href="https://crypto.news/top-cryptocurrencies-to-watch-this-week-ckb-w-pendle/" rel="">crypto</a> market. 
CKB is up by 13.2% in the past 24 hours and is trading at $0.035 at the time of writing — a level last seen in March 2021. The asset’s market cap surged to $1.55 billion, making it the 69th-largest cryptocurrency. 
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 <img loading="lazy" decoding="async" width="1024" height="347" src="https://crypto.news/app/uploads/2024/04/Nervos-Network-CKB-10.50.15-10-Apr-2024-1024x347.png" alt="CKB defies bearish market conditions, reaches 3-year high - 22"> 
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 CKB price, RSI, open interest and funding rates – April 10 | Source: Santiment
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The daily trading volume of CKB recorded a 2.6% hike, reaching $313 million. 
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According to data provided by Santiment, the CKB total open interest (OI) dropped by 6.8% over the past day — falling from $70.17 million to $65.38 million. At this point, the declining OI suggests lower <a href="https://crypto.news/market-cap/" rel="">price</a> volatility for the asset. 
Moreover, data shows that the total funding rate aggregated by CKB surged from 0.011% to 0.019% over the past 24 hours. The indicator suggests that traders are still betting on a further price rally for CKB as it reaches its three-year high. 
If the CKB price witnesses another surge, traders could witness increased short positions liquidated. 
Per data from Santiment, the <a href="https://crypto.news/ckb-surges-64-in-24-hours-traders-bet-on-price-drop/" rel="">CKB</a> Relative Strength Index (RSI) rose from 69 to 73 over the past day. The indicator shows that the asset is slightly overbought at the current price point and some profit-taking activity would be expected. 
CKB’s RSI would need to drop below the 60 mark for it to remain in the bullish zone.&nbsp; 
 Read more: <a href="https://crypto.news/ethereum-advisor-sues-united-states/" rel=""> Former Ethereum advisor sues U.S. for $9.6b over dropped extortion charges </a>

CKB defies bearish market conditions, reaches 3-year high

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