Casper price prediction says the rally in CSPR has just begun and more scope for upside is open. In 2024, Casper might become one top-performing cryptocurrencies and is likely to maintain its ranking in the top 100.
Casper price surged 17% approx. in the last trading session and formed a giant bullish candle. It attempted to reach a six-month high with a high buying volume but confirmation is still awaited.
If the buyers succeed in holding the price above the $0.4500 level then more upside may trigger. However, the recent upmove in CSPR is supported by a high volume. So, the probability of continuing the upward momentum remains high.
The 50-day EMA reverses upward and might positively intersect the 200-day EMA. If the golden crossover takes place, then it will positively impact the investors’ sentiment and may add fuel to the momentum.
Currently, Casper price is trading at $0.04356 with a downtick of -0.73%. In the last 24 hours, the market capitalization increased by 21% and entered in the top 100 crypto club.
Is Casper Price Getting Ready for Massive Rally?
Casper price prediction had now turned bullish for the short term as well as for the long term. The chart pattern shows that the bulls are returning back to track and more upward momentum is pending.
On the higher side, the visible resistance is $0.05329 followed by next placed at $0.06367.
If the buyers succeed in breaking the $0.05329 hurdle and taking control of the supply zone. Then it will trigger a massive rally and the price may reach a YTD high in a short period.
The analysis suggests CSPR price is in the initial phase of a bull run so investors must add this into their portfolio for the long term.
CSPR Price Recovered the Losses of Past Six Months
CSPR price rose 30% in the current week and engulfed the losses of the past six months. December is turning out to be good for the existing investors so new participants may join and fuel the rally.
The MACD curve displayed a positive crossover and the histogram bar is constantly rising indicating bullishness. The supertrend also favors the bulls and suggests more upside is pending.
However, the RSI at 78 entered an overbought territory so it may raise concern for short-term bullish traders.
Conclusion
Casper price prediction suggests the rally may continue in the coming months and highs are possible. The recent wild upmove in CSPR price is quite surprising but it looks reliable and more scope for upside is open.
The analysis suggests Casper crypto price is at attractive levels. So, long-term investors must add it to their portfolio to generate nominal returns.
Technical Levels
- Resistance levels: $0.05329 and $0.06367
- Support levels: $0.04000 and $0.02916
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She 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. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
Source: https://www.thecoinrepublic.com/2023/12/06/casper-price-surges-17-is-cspr-a-good-pick-for-long-term/