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- 1 The price of CSPR is currently trading near $0.0407 where it is undergoing a change of 8.00% in the 24-hour trading volume.
- 2 The CSPR price has gained 2.33% within the last 7 days.
The Casper price prediction presents a beneficial opportunity for the bulls with a sound 1:5 risk-reward ratio. Investors may find the current prospective appealing though the oscillator’s RSI and Stochastic RSI are moving in contrast with each other. The buyers are presently attempting to retake the charge of the market where the price action indicates that the bulls hold an edge over the bears.
Casper Network is the first proof-of-stake blockchain that is built off the Casper CBC specification. Casper is designed to accelerate enterprise and developer adoption of blockchain technology today; evolving to meet users’ needs in the future.
It uses the CSPR token in the Casper network as its native token used to reward the validators that participate in the PoS consensus mechanism.
CSPR Price Prediction: Technical Indicators
CSPR price prediction implies that the Casper token is present in the recovery phase. After gaining buyers’ support from the $0.03000, the price started making a higher high and low pattern. If the CSPR price acquires sufficient support from the bulls, it can recover more than 55% of its value within the near future.
The Oscillators are moving against each other on a daily timeframe. The RSI line is taking a reversal from the oversold level whereas the Stochastic RSI is moving near the overbought zone. The Casper price is at the initial level of the bull trend it is presently in the accumulation phase according to the price action.
Observing the historical price action, it can be observed that the Casper price has given its biggest movements near the over-bought levels of Stochastic RSI. It suggests that the price can repeat history.
The current RSI value of the Casper coin is 43.89 points facing resistance from the median line. The 14 SMA is providing support to it near 39.76 points.
The %K recently gave a crossover to the %D line near the overbought level. The current value of the Stochastic RSI is 86.62 points.
Conclusion
According to the analysis, price prediction for CSPR suggests CSPR price is in the recovery phase. The historical price action indicates that bulls have the odds in their favor on the daily chart. The Oscillators are moving against each other on a daily timeframe.
Technical Levels:
- Support -$0.03700
- Resistance – $0.0500 and $0.0600
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.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
