SRM/USD Attempts to Rise From $0.20

Serum (SRM) Price Prediction – November 10

In the last several hours and some days back, most of the crypto markets witnessed significant decreasing motions as the SRM/USD trade operation was not sidelined, causing the pair to attempt to rise from $0.20 as the price averages it. The market has been able to keep a positive percentage rate of 8.06 to trade around the $0.34 line.

SRM/USD Market
Key Levels:

Resistance levels: $0.60, $0.70, $0.80
Support levels: $0.20, $0.15, $0.10

SRM/USD – Daily Chart

The SRM/USD daily chart reveals the pairing market attempts to rise from the $0.20 support level after the cycle of the recent falling force hit support while approaching a lower-trading spot of the value line. The 14-day SMA indicator is around $0.69, underneath the $0.82 value line of the 50-day SMA indicator. The Stochastic Oscillators are in the oversold region, somewhat trying to close their lines at 2.32 and 4.57 levels. With the possible emergence of a bullish candlestick from a lower-trading spot, the base crypto is struggling to stand against forces that its counter-trading crypto intends to inflict on the market.

Will the SRM/USD market not downsize operations further sustainably past the $0.20?

As a round of declining motions took place in the SRM/USD trade operation some days back, the crypto market has relatively resorted to attempting to rise from the $0.20 support trading level. Price increases may not occur shortly; the market will take time to establish its presence around the value line for a few days before embarking on the aggressive upward rises that will emerge later.

On the downside of the technical analysis, the horizontal line drawn at the $0.20 support level indicates the price will face a critical trading condition around the spot if bears intend to push the market into a more devaluating situation. If the market eventually below the target for an extended period, it will amount to panic sell-offs. Nevertheless, investors will have to hold on to their portfolios even if they wish to add more positions will be technically inclined.

SRM/BTC Price Analysis

In comparison, Serum has lost quite stances to the trending ability of Bitcoin. The pairing crypto market attempts to rise from the lower horizontal line drawn beneath the trend lines of the SMAs. The 14-day SMA indicator is closely below the 50-day SMA indicator. The Stochastic Oscillators have dipped into the oversold region to touch the zero level. And they are now trying to cross northbound at 1.62 and 3.29 levels. In the meantime, traders needed to be cautious until two more bullish candlesticks walled alongside the bullish candlestick.

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