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- 1 CSPR coin price is surfing the 50-day EMA as bulls are taking support from it.
- 2 The current resistance level is strong as the bullish investors are finding it tough to break past.
The Casper Network is an enterprise blockchain that utilizes Proof of Stake (PoS). It is specifically designed to facilitate the rapid development of blockchain-based products and services.
The platform boasts several developer-friendly features, upgradeable smart contracts, and lower transaction costs compared to other Layer-1 blockchain offerings. The Casper Network employs a specific type of PoS consensus protocol called Casper CBC, which is expected to be adopted by the Ethereum network in its eventual 3.0 model.
As a result, some members of the Casper Network team sometimes refer to their project as the “final evolution” of Ethereum.
Features of Casper
Casper offers several features that address the above concerns. One of the first is Adaptability, Upgradeable smart contracts allow enterprises to dynamically adjust to changing needs without hard forks.
Another feature is Developer-friendliness, and support for Rust and WebAssembly (WASM) alongside lower transaction fees, which aim to attract and retain developers.
Casper also offers granular control, in which the weighted keys enable precise configuration of system access permissions, catering to complex enterprise governance requirements. Casper’s native cryptocurrency serves as the backbone of the PoS consensus mechanism, rewarding validators for processing transactions.
In addition to this, Casper has a team with extensive experience at major tech companies like Google, Microsoft, and Adobe. Casper’s traction is growing, evidenced by partnerships like the recent one with SJM Group for Web 3.0 adoption in the UAE.
Developers are also increasingly building on Casper, spanning diverse areas like non-fungible tokens (NFTs), gaming, decentralized finance (DeFi), and Know Your Customer (KYC) solutions.
Technical Analysis & Prediction of CSPR Coin Price
At the press time, the CSPR coin price is trading at $0.05 after breaking the strong resistance level of $0.039, now the immediate support level.
However, the bullish investors are facing the immediate hurdle at $0.05187 which seems strong as this level has been retested quite a few times in the past week.
| Pivot | Classic | Fibonacci | Camarilla | Woodie |
| S3 | 0.001 | 0.024 | 0.044 | 0.016 |
| S2 | 0.024 | 0.033 | 0.046 | 0.025 |
| S1 | 0.037 | 0.038 | 0.048 | 0.039 |
| P | 0.047 | 0.047 | 0.047 | 0.048 |
| R1 | 0.060 | 0.056 | 0.052 | 0.062 |
| R2 | 0.070 | 0.061 | 0.055 | 0.071 |
| R3 | 0.093 | 0.070 | 0.057 | 0.085 |
The 50-day and the 150-day EMA has done a bullish crossover which implies that the coin is on an uptrend. The 2nd resistance is at the level of $0.06084 which will be the target price for the bulls if the current levels are broken.
Conclusion
Developers are building on the Casper Network, an enterprise blockchain that uses Proof of Stake (PoS) for fast development of blockchain-based products and services. It is being used in areas such as NFTs, gaming, DeFi, and KYC solutions. The 2nd resistance level is the target price for the bulls if the current levels are broken.
Technical Levels
- Support Levels: $1.38 and $1.17
- Resistance Levels: $1.71 and $1.93
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 in stocks, cryptos or related indexes 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.
