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- 1 Casper is trading at $0.43 while seeing a fall of 16% in the 24-hour trading volume (press time).
- 2 Casper prices recorded a decline of 4% in the last 24 hours.
The Casper prediction indicates that CSPR price recently gave a breakdown to its support near the trendline on the daily chart. The price is presently making a retest from it. However, the price action indicates that the retest might not be successful. The breaking of the trendline indicates an upcoming change in trend. An increase in the selling pressure is observed overall which may have been caused by the major cryptocurrencies seeing a decline in value and may fall further.
The present price action indicates that Casper price is reflecting the sentiments of the market. The CSPR price took a bearish correction after failing to break above the resistance level unless it gains substantial backing from the buyers in order to resume its previous trend.
Significant Hike in Greed Sentiment of Investors
Investor opinions concerning the overall cryptocurrency have been neutral for the past few days after falling from greed zone. The current value of the sentiment index is 50 points. It is seeing a fall of 5 points as per the Alternative(dot)me platform within the past few days.
Major cryptocurrencies in the market underwent a slight downturn. The slightest moment in the major cryptocurrencies of the market usually makes a bigger impact on the overall price action of other currencies.
Decrease In Bullish Levels Of Casper Crypto
The metrics in the LunarCrush platform except for social engagement levels are bearish, indicating that the potential buyers in the community are apprehensive regarding Casper crypto. However, they are active across several social media platforms.
The total bullish sentiment metric is down by 10.88%. The overall social engagement level surged by 40.02%.
Casper Price Prediction: Technical Analysis On Daily Timeframe
The RSI line is moving toward the demand level. The current value of the RSI is 46.74 points and the value of the 14-day SMA is 52.24 points. The RSI line is presently moving below the median line.
At present, the stochastic RSI is giving a bearish crossover. The value of the stochastic RSI is 39.59 points. The %K line may soon reach the demand zone.
Conclusion
As per Casper price prediction, the price action indicates that bulls are attempting to break out above the 100-day EMA resistance level and have been unsuccessful, yet The major cryptocurrencies of the market recently experienced a downturn. Casper price prediction suggests that Investors may take the bears’ side in the near future.
Technical Levels:
Support –$0.030
Resistance – $0.050
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.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
