CSPR Price Analysis: Token on the Verge of Bull Rally?

CSPR has entered an uptrend by continuously forming higher highs and higher lows.
The token is about to give a Golden Crossover on the daily chart.
MACD and RSI indicators show a buy signal for CSPR.

According to the daily chart, a significant bull rise for the CSPR is expected. A previous attempt to break through the horizontal line/resistance line marked on the chart was made by the token, but it was unsuccessful. Instead, the price only managed to rise a little and then fell back again.

Monoscopic View

One of the token’s key resistance is the horizontal line depicted on the graph. We can see that the token is making a strong effort to overcome this resistance. Once again, at the time of writing, the price has broken through this resistance: it will now be interesting to see whether or not the price continues to rise. If it does not, the price may consolidate for a while at its current levels and then it may give a breakout and we can then again expect the token to continue its bull rally.

The MACD indicator has displayed a bullish crossover, indicating that bulls have gained control over the bears and can now drive the prices higher. The RSI curve, on the other hand, is trading over its 50-point threshold at 67.69. If the price increases more, the RSI curve’s value can be seen advancing further.

Overall, both the indicators are generating a buy signal which is a positive sign for investors.

Microscopic View

The short-term chart of CSPR looks similar to its daily chart. On the short-term chart, it is clearly visible that the price after breaking the key resistance managed to rise a little and then started consolidating. This means that if the price breaks out of this zone, then the token may again seem to be continuing its bull rally. Moreover, a Golden Crossover also took place earlier on the chart which drove the price up to a great extent.

By February 13 of this year, the price of Casper (CSPR) is expected to increase by 14.69% and reach $0.049478, according to Coin Codex’s most recent price estimation. The Fear and Greed Index is currently displaying 58 (Greed).

Conclusion

CSPR showed a great bull move from its support levels so the investors can look forward to buying at those levels or else they can buy at current price levels with a stop loss of $0.02598.

Technical Levels

Resistance levels – $0.04892 and $0.07984

Support levels – $0.03291 and $0.02598

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.