Portland's winning streak is its longest of the season and follows a stretch in which the Trail Blazers lost six out of eight. Denver had captured three in a row.
Portland took a 25-14 lead through one quarter and spent the rest of the game fighting off the Nuggets. Denver twice closed within four in the final period.
Wes Matthews had 20 points for Portland and J.J. Hickson contributed 18 points and 18 rebounds.
Denver put up 21 attempts from 3-point range and did not make a one. Andre Iguodala, Ty Lawson and Corey Brewer all scored 13 points for the Nuggets, who have played 11 more games on the road than they have at home.