- CSPR shows accumulation and reverted from 50 day EMA.
- Bulls looking in perfect shape to gain further.
Casper’s price predicts a significant upside forming a double bottom pattern on the daily charts. Based on recent price action, CSPR bounces from the 50-day EMA mark.
Moreover, Casper coin delivers a positive outlook in the last trading session, and bulls are taking control of the action and gaining traction. The coin trades above its significant moving averages and far above its congestion zone.
However, CSPR failed to sustain near its strong resistance mark at $0.05500 and reverted from the supply range. The price action still indicates the bullishness that bulls attempt to fetch in the upcoming sessions. The sellers were trapped in the recent bounce and were covering positions. Moreover, the chart pattern favored bulls, and the classic W pattern and double bottom breakout were willing to retest the higher marks near $0.05500in the upcoming sessions. However, bulls were trying to sustain above 20-day EMA.
When writing, the CSPR coin trades at $0.05000 with a massive intraday gain of 5.84%, showing a huge accumulation from buyers. Moreover, the pair of CSPR/BTC is at 0.0000019 BTC, and the intraday trading volume rose by 4% to $5.00 Million. The coin marks a day high of $0.05042 and a low of $0.04720.
Daily Charts shows Buyers gaining traction
On the daily charts, the CSPR coin forms a double bottom pattern and rescues the gains from the front of the 50-day EMA. At the same time, the recent retracement in price pauses the critical mark of $0.05000.
The recent move shows buyers are gaining traction and respecting the 50-day EMA-formed hammer candle on there. However, the rising wedge pattern formed, which led to the correction, and afterward, the coin recovered the lost momentum.
What Technical Indicators Say?
On the 4-hour charts, the CSPR coin remained in the narrow range near the significant round mark of $0.05000. Moreover, the technical indicators show bullishness on the chart based on leading indicators
The RSI is floating above the neutral levels and near the overbought zone, while a positive crossover was also noted in the index curve.
The MACD indicator also indicates a bullish crossover and reflects positive cues on the charts. Moreover, green bars are floated on the histogram showing buying perspectives of the coin.
Conclusion:
Casper Price is staying above 20 EMA, which signals buyers continue to hold the momentum and are willing to retest marks near $0.05500.
Technical Levels :
Support Levels:$0.04800
Resistance Levels:$0.05500
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.