Cypherium price prediction is bullish for the long term till it sustains above the $0.010000 level. If forming a bullish pattern and buyers are trying their best to rebound.
In August and September, Cypherium crypto prices spent time in the consolidation range between $0.007937 and $0.012000. It seems like CHP crypto has formed a long-term base and correction has taken a halt.
Recently, the CPH price breakout of the $0.012000 hurdle triggered a positive sentiment and grabbed the attention of crypto traders.
Meanwhile, the buying volume also surged and prices followed the upward direction. It denotes crypto whales are getting active and accumulating the CPH at a cheaper price.
After the breakout, Cypherium’s price rallied 150% (approx.) and hit a swing high at $0.028975. Later, the prices witnessed minor profit booking and retraced down to the EMA.
At present, the 50-day EMA is acting as an immediate support and buyers are trying their best to defend it. CPH price is trading at $0.014594 with an intraday decline of -5.75%. The 24-hour volume to market cap is 0.34.
Will Cypherium Price Hold the Recent Gains?
Cypherium price prediction stays bullish for 2024 and suggests a rise in the coming months. CPH crypto is in a recovery phase and bulls are trying to keep the price above the breakout level.
Till the CPH price sustained above $0.007937 support the buyers will remain active and may absorb the short-term sell-off. On the higher side, $0.028975 will act as an immediate hurdle for bulls.
Until it gets broken, the prices will lack momentum and might spend inside the wide range consolidation. The analysis suggests that the recent breakout looks reliable and prices are expected to hold the gains.
CPH Price Turned Bullish on a Daily Time Frame
CPH price turned bullish on a daily time frame chart but still looks bearish on a weekly chart. The 50% of the gains had eroded indicating that short-term bulls had booked the profits from the higher levels.
The MACD curve lost momentum and reversed downward. It displayed a negative crossover and its histogram bar is red indicating mild bearishness. Whereas, the RSI is at 45 so if prices decline further then RSI may test oversold territory.
Conclusion
Cypherium price prediction is bullish for the long term and suggests a rise in the coming months. The recent breakout in CPH looks reliable because it is supported by a high buying volume. The analysis suggests that if buyers succeed in breaking the recent swing high then more scope for upside will open.
Technical levels
- Resistance levels: $0.028975 and $0.035000
- Support levels: $0.010000 and $0.007937
