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- 1 The CSPR price is currently trading at $0.0426 while seeing a change of 50.6% in 24-hour trading volume.
- 2 The CSPR price is observing a decline of 6.23% in the last 24 hours.
- 3 The Casper price gained 25% of its value within the last couple of weeks,
The price is getting strong support from the buyers after seeing a downfall in early March wherein it fell below its trend line. The CSPR price recently made a bearish downfall taking rejection from $0.06000 losing more than 30% of its overall value. Presently the price is trading near its immediate support level near the base of the trendline, the buyers have been respecting it for the past 6 months.
The technical indicators are also in favor of a bullish reversal which strengthens the probability of a positive comeback. After finding crucial support for around 100 EMA, the price of CSPR is striving to resume its bull trend.
The EMA’s, volume, and oscillators are also providing positive indications regarding trend reversal.
The Sentiment of Investors and Social Engagement Rate
The metrics provided by the LunarCrush are observing a positive increase in the last 24 hours though on a longer timeframe they present a negative outlook. The total bullish sentiment metric is seeing an appreciation of 42.71% whereas the total social dominance level has surged by 55.7%.
These parameters suggest that there is bullish optimism among investors’ sentiments regarding the Casper coin.
Previously, near mid-December, Casper changed its trend to the bull’s favor. Casper coin gave an extremely bullish breakout of around 30% but after the bullish rally. Despite the positive optimism of the buyers it was not able to find the buyer’s support, recording a sharp rejection from 200 EMA.
CASPR price made another retest with persistence and was able to make a breakout with a strong bullish candle pattern, after which it started trading on an uptrend.
Technical Analysis (1 Day Timeframe)
The RSI line is trading near an extremely oversold level, closely shadowing the price on the daily timeframe. The RSI has been consistently finding support from the 14 SMA. The current RSI value is 33.50 points where the 14 SMA is trending just above the median line around 43.36 points.
Conclusion
The Casper price favors the MA rather than the EMAs according to the analysis which can also be observed in the illustrations given above. The price is currently trading near the demand zone of the trendline. The technical analysis forecasts a possible bullish recovery for CSPR price in the near future.
Technical levels –
Support -$0.036
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 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 pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
