Casper crypto surged 2.60% in market value and 25.59% in trading volume in the last 24 hours, per Coinmarketcap which is a crypto data and info website. Its market value is $370,349,990 and its trading volume is $4,182,572. There are 11,369,879,494 CSPR in circulation.
CSPR has a maximum market cap of $393,684,516, which is the fully diluted valuation (FDV) of the cryptocurrency. This is based on the assumption that all 12 Billion CSPR tokens are circulating in the market today. However, the actual number of CSPR tokens in circulation may be lower, depending on how the tokens are emitted over time. Therefore, it may take several years before the FDV is achieved.
CSPR coin has not shown good performance this month, as it is down by 5.67% and fell by 22.30% in the past six months. However, the year-to-date return of the CSPR price is positive with an 18.25% incline.
Moreover, CSPR open interest is $530.82K, as per Coinglass, which is a crypto analysis website, it fell by 0.44% in the previous session. The long versus short ratio for 24 hours is 1.0284. The total number of short positions added in the last 24 hours is $255.03 against longs of $163.7.
CSPR Coin Price Technical Analysis in the 1-Day Timeframe
At the time of publishing, Casper (CSPR) is trading between the 20 and 50-day EMAs (exponential moving averages).
The MACD line at 0.000652 and the signal line at 0.000789 are below the zero line; both lines cross each other with a bullish crossover observed in the MACD oscillator, where the histogram width is lean indicating price consolidation.
The current value of the RSI is 48.95 points and the 14-day SMA is below the median line at 38.17 points.
Casper price showed a consolidating trend for the past three months. At the time of publication, the CSPR price is trading at $0.0325 and the price is trying to surge slowly. If more selling volume is added, then the breakdown might drag the price toward new lows.
Therefore, the CSPR price could continue to move downwards and reach the nearest support at $0.0200 and $0.0100 if it fails to maintain the current level.However, if the CSPR price sustains the current level and rises, then it might hit the nearest resistance levels of $0.0400 and $0.0500.
Conclusion
Casper price highlights the neutral sentiments and perspectives of investors and traders regarding the coin in the daily time frame. CSPR price action highlights a bearish to consolidation view at the time of publishing as CSPR broke the resisting trendline and tried to sustain. Moreover, the technical parameters of the price suggest the continuation of the consolidation over the daily time frame chart.
Technical Levels
- Support Levels: $0.0200 and $0.0100
- Resistance Levels: $0.0400 and $0.0500
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/10/07/casper-cspr-price-trading-at-demand-zone-can-it-thrust-above/