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- 1 Casper’s price is trading below the key moving averages showcasing bearishness.
- 2 CSPR price is down by almost 11.20% in a week suggesting bears are active in the crypto.
The Casper Network, a PoS blockchain system, is designed for corporate integration, distinguished by its superior processing capacity, economical transaction costs, and solid security framework, thanks to its pioneering Highway Protocol. This protocol not only fortifies the network’s consensus but also boosts the efficiency of transactions, making Casper Network an apt choice for a range of business blockchain uses.
Predominantly, Casper Network serves as a foundation for creating and implementing dApps and smart contracts, boasting scalability and cross-platform compatibility. It’s particularly suited for businesses seeking swift and reliable transaction completion with minimal delay. The network’s cost-effectiveness in terms of fees widens its appeal across a spectrum of developers and enterprises, positioning it as a cost-effective option compared to pricier blockchain infrastructures.
Launched in 2018 by Casper Labs with Mrinal Manohar as CEO and Medha Parlikar as CTO, the network has been meticulously crafted to meet the demands of businesses utilizing blockchain technology.
Technical Analysis of Casper Crypto Price
Casper’s crypto price forecast implies the bearishness in the momentum in the recent trading sessions. Moreover, the overall trend is looking bearish as the price is trading below the key moving averages and the sellers are pushing the crypto from the upper level to lower.
Technical is giving an unclear outlook as the price is not showing a good movement on the chart. At first, the price halted near the value of $0.0521 and reached the level of $0.34, below the dynamic supports.
The buyers and the sellers are fighting over the price but need to get a proper grasp on the price. The trend is indecisive at the movement.
Moreover, after the price broke key EMAs, it may fall further and might touch the lower levels. However, if the price successfully sustains at the current levels, it might reach the upper thresholds. Casper price is trading below the 50, 100, and 200-day EMAs, which doesnt’ show support for the price.
At the time of writing the Casper is trading at the level of $0.03438 with a loss of 6.11%. The 24-hour trading volume is 14.01 million with a market cap of 416.09 Million.
As per the trading view indicator summary out of 25 indicators, 15 are on the sell side, 9 are on the neutral side and 1 are on the buying side. However, the overall weightage is on the strong selling side.
Summary
Casper’s price is trading below the key moving averages despite good market performance. Key indicators like MACD, RSI, and EMAs are demonstrating the bearish signal. The direction of the price and the trend is looking unclear as of now. The trader and investors should wait for the proper setup before taking any further action and avoid FOMO.
Technical Levels
Support Level: $0.3000
Resistance Levels: $0.4047
Disclaimer
The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in crypto involves risk. Please assess your situation and risk tolerance before making any investment decisions.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
