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Casper (CSPR) Witnessed a Rebound; Is The Bullish Trend Ahead?

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The Casper coin (CSPR) price witnessed a rebound and is glimpsing follow-on-buying momentum on the charts. Moreover, the coin is poised to outperform and is gaining strength following the market surge. The trend is neutral, and the buyers are lifting the coin, witnessing a bullish crossover, suggesting the potential bull run for the following sessions.

At press time, the Casper coin (CSPR) price traded at $0.0504  with an intraday gain of 3.92%, indicating a bounce on the charts. It has a weekly return ratio of 21.52% and 44.67% on a monthly basis. The pair of CSPR/BTC is at 0.000000737 BTC, and the market cap is $1.05 Billion. Analysts are neutral and suggest that the CSPR coin price will soon reach a breakout and cross the $0.0600 mark.

Casper Price Volume Analysis on the Daily TimeFrame

Casper
Source: Santiment

The charts suggest that the coin has gained buying momentum from the beginning of February and soared over 50% in the last weeks. Moreover, the trading volume also indicates an inclination at $18.41 million, and a rise of over 70% within this week was noted. Investors are paying attention to the coin, and volume activity keeps on average.

Casper (CSPR) Price Volatility and Funding Rate Analysis

Casper
Source: Santiment

The price volatility keeps declining with an increase in the price value of the coin, implying a steady bullish action and buying pressure. Moreover, the lower the volatility, the lower the panic among the investors, which leads to a slow and steady rise, which is a positive sign for the holders. The volatility curve now stands near 0.02, implying below-than-normal fluctuations. Additionally, the funding rate aggregated by the exchange bars keeps rising and is at 0.038; an increase of over 3% was noted.

CSPR Development Activity and Contributors Count Outlook 

Casper
Source: Santiment

The development activity curve witnessed a steady move and is noted at 4.2, whereas the contributor’s count curve rose to 14; a jump of over 2% this week was recorded. The sentiments are favourable for the coin, and buyers will continue to put pressure on it and lift it to $0.06000 in the following sessions.

Casper In Hurry; Can Mighty Bulls Rise the CSPR Price Above $0.06000 in March?

Casper
Source: CSPR Price Chart By TradingView

The Casper coin (CSPR) signifies a bounce from the support zone of $0.03200 and glimpsed a recovery of over 50% in the last weeks. The trend is neutral, and bulls are delivering their interest in lifting the coin above the upper trajectory hurdle of $0.0600 to unlock a bullish trend.

The Relative Strength Index (RSI) curve stayed in the overbought zone and replicates a bullish momentum on the charts. Similarly, the MACD indicator signals the bullish crossover and suggests a positive outlook for the following sessions.

Summary

The Casper coin (CSPR) witnessed a bounce and has overtaken the key EMAs, signifying the bulls’ dominance. Moreover, the buyers are keen on upliftment and looking to extend the rebound toward the $0.06000 mark.

Technical Levels

Support Levels: $0.05000 and $0.04800

Resistance Levels: $0.05150 and $0.05300

Disclaimer

The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. 

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