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- 1 Casper price chart suggests a massive breakout is likely in January 2024.
- 2 CSPR price rose 43% approx in December 2023 and reversed the short term trend.
- 3 A bullish trend reversal pattern is visible in the CSPR daily time frame chart.
The Casper price chart suggests a sharp rise may be visible anytime in CSPR coin. It forming a bullish pattern and attempting to break out of the $0.05500 hurdle. If the buyers succeed then the possibility of sharp rise will increase.
CSPR price rose 43% approximately in the current month and rewarded the short term investors.
Furthermore, the slow and steady rise had created a positive hope for the long term investors. So, it is expected that CSPR coin will perform well in January and continue upward momentum.
To regain the confidence of the long term investors, buyers need to break the $0.05500 barrier and sustain. If they succeed then the next phase of rally may trigger which might take the price to $0.06289 level.
However, the sellers at $0.055000 did not easily give up and are attempting to defend the supply zone. So, Casper coin needs the participation of whales and other genuine investors who are ready to inject money for the long term.
The chart pattern of CSPR crypto shows that the bulls are back and are strengthening their grip to hit new highs. Currently, the pair of CSPR/USDT is trading at $0.04972 with an intraday downtick of -3.46%.
Casper Price looks Undervalued; Is it a Good Time to Accumulate?
Casper price is now at a crucial resistance near the monthly high. It is very important for bulls to win the battle and hit new swing highs. Else, bears will absorb the buying and may give rejection.
After analyzing the price behavior of CSPR, it can be said that the breakout may be visible soon. Moreover, a bunch of conservative investors are patiently waiting for breakout to build fresh longs.
The analysis suggests that Casper crypto looks undervalued at current price levels. So, it is a good time to take minor risk and accumulate this coin.
What if CSPR Price Retraces Downwards?
CSPR price is inside the bulls’ grip and no signs of weakness is visible in the chart. However, minor profit booking or short term retracement toward the 50 day EMA is possible. But investors should take it as an opportunity to accumulate this coin at a cheaper price.
The chart pattern of Casper tells us that buyers are active near the support, so probability of bouncing back after retracement remains high.
Conclusion
Casper price prediction suggests bulls are getting ready to hit new swing highs. The bullish momentum on the chart is likely to reward investors in the short run.
Technical levels
- Resistance Levels: $0.05500and $0.06289
- Support Levels: $0.04858 and $0.03776
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
