Will CSPR Price Test Previous High Soon?

CSPR Price Prediction is mildly bearish till it trades below $0.05000 level. However, the price is near the crucial support and the buyers are trying their best to rebound.

CSPR Price slipped below the 50 and 200 day EMAs indicating that the trend has reversed in the downward direction. The EMAs are preparing for the death crossover which will trigger negative sentiments and may raise concerns for the investors.

Casper Price is in the correction phase and declined by forming lower-low swings. It formed a double bottom bearish pattern which shows the dominance of the sellers. For the past few weeks, Casper Coin is stuck in a narrow range. The buyers are trying to defend the $0.03500 support.

However, the sellers seem to be more aggressive as compared to buyers. Therefore, 20% more decline from the current level is possible in the coming months.

Casper Price has not performed well in the past few months and has not generated any returns despite a massive rally in the Bitcoin Price. Casper Price is trading at $0.03886 with an intraday decline of 0.79%. The 24 hour volume to market cap is 0.65%.

Will Casper Price Decline Further or Make a U-turn?

Casper Price corrected 40% (approx.) from the recent swing high and still there are no signs of a recovery. The overall market performed well last month but CSPR Price is consolidating in a narrow range.

On the lower side, if the CSPR crypto price is able to defend the $0.03000 support, then a short term pull back rally is possible. However, the price will pick up momentum when buyers will be able to break the $0.05000 hurdle.

Till then, it is expected to consolidate in the range between $0.03000 to $0.05000. On the other hand, if the Casper crypto price drops below the $0.03000 level, then it will turn highly bearish and the bears might drag it down to yearly lows.

CSPR Price Formed an Inverted V-shape Pattern

CSPR Price formed an inverted V-shape pattern on the weekly time frame. It indicates bearishness on multiple time frames. However, the bears seem to be losing the downward momentum near the demand zone.

The MACD has generated a positive crossover but the curve is sloping sideways. It indicates mild bullishness but the prices are likely to consolidate for some more time. The RSI at 40 denotes weakness but the short term relief rally may trigger any time from the lower levels.

Conclusion

Casper price prediction suggests mild bearish in the chart. The sellers are dominating on the higher levels. However, CSPR Price is near the demand zone and buyers are trying their best to rebound.

The technical analysis suggests that Casper crypto price is in a bearish grip and the probability of testing the previous highs in the coming months remains low.

Technical levels

Resistance levels: $0.05000 and $0.06408

Support levels: $0.03000 and $0.02547

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.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing