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Casper is trading at $0.04 while seeing a rise of 41.66% in the 24-hour trading volume (press time). - 2
Casper price recorded a surge of 9.20% in the last 24 hours.
Casper price prediction suggests that Investors are presently buoyant regarding the token and are attempting to make a breakout through the critical obstacle points. The market structure indicates that the CSPR price is moving near the supply zone on the one-day chart. Both the 200 EMA and the 100 EMA are providing grave resistance to it which may prove to be a challenging barrier for buyers.
At present, the Casper token price prediction indicates that it is moving near the supply zone of the market structure and is trading near the 200 EMA. The price recently broke its widening wedge pattern in favor of bears. It is currently testing the 200 EMA barrier.
The major cryptocurrencies of the market recently gave a slight bearish downturn; breaking below the consolidation in the supply zone which may cause the price to reflect the overall market sentiment. The volume is seeing a surge in green candles which suggests that buying pressure is increasing. The volume breakout is also an indicator of a big move though the buyers might prefer to practice caution as the bears may enter the market.
Decrease In Bullish Levels Of Casper Crypto
Despite the drop in the bullish parameters shown on the LunarCrush platform, the price increased by 9.20%.
The total bullish sentiment metric is down by 43.73%. Overall social engagement level surged by 180.3%.
The overall metrics in the LunarCrush platform except the 24h volume and social engagement level are flashing red which suggests that the potential buyers in the community are apprehensive regarding Casper crypto.
Casper Price Prediction: Technical Analysis On Daily Timeframe
The relative strength index (RSI) line is moving towards the overbought levels. The current value of the RSI is 60.31 points and the value of the 14-day SMA is 43.72 points. The RSI line has breached the median line.
At present, the stochastic RSI is above the neutral value and has reached the supply zone. The value of the stochastic RSI is 100.0 points. The %K line may soon start moving toward the supply level after crossing below the %D line.
Conclusion
As per the Casper price prediction, the price action indicates that bulls are attempting to break out above the 200 and 100 EMA resistance levels. The major cryptocurrencies of the market recently experienced a slight bearish downturn which might reflect in the CSPR price chart.
Technical Levels:
Support –$0.034
Resistance – $0.046
Disclaimer:
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/07/23/casper-price-prediction-cspr-price-attempts-a-bullish-breakout/