Serum (SRM) Price Outbreak Over 60% in the Last 24-Hours

• Serum (SRM) price has skyrocketed to $0.45.
• The fear & Greed Index of SRM is currently showing 55 (Neutral)

Serum price surged today to $ 0.45 with a 24-hour trading volume of $1,128M, the market cap of $120M, and market dominance of 0.01%. The SRM price increased over 60% in the last 24 hours.

Serum’s highest price was recorded on Sep 11, 2021 when it was trading at its all-time high of $ 13.58, and its lowest price was recorded, when it was trading at its all-time low of $ 0.89. 

Since its ATH, the price has dropped to $ 0.113194 (cycle low). SRM reached its highest price since the last cycle low at $ 0.597316 (cycle high). Fear & Greed Index is currently showing 55 (Neutral) while Serum price prediction sentiment is neutral.

There are 263.24M SRM in circulation out of a maximum supply of 10.16B SRM. Currently, the yearly supply inflation rate is 97.58%, which means 130.01M SRM were created last year. Serum is ranked #3 in the Solana Network sector based on market capitalization, and #35 in the DeFi Coins sector.

SRM price is making a move toward the weekly resistance level at $1. This follows after SRM’s price entered into an upward move over the last 7-14 days. As a result, SRM’s price has been able to break above the 9-week EMA line and now looks to do the same with the 20-week EMA line.

Weekly RSI has crossed above its weekly SMA line, indicating a bullish trend. A positive slope in the weekly RSI line also indicates overbought territory, which is bullish.

If the price of SRM is able to break above the 20-week EMA line, then it will have no remaining obstacles that will hinder its move toward the $1 level.