- CSPR jumped 4.06% during the intraday session and is trading at $0.035335.
- The year-to-date return of CSPR is +27.90%, and the three-month return is -9.35%.
- CSPR price surged about 11% in the current week.
The price of Casper Network (CSPR/USDT) is at $0.035335 at the time of writing, with a 24-hour trading volume of $2,967,420, while witnessing a gain of 4.06% during the intraday session and a 11% price increase in the past 7 days. With a circulating supply of 11 Billion CSPR, Casper Network has a market capitalization of $399,978,585.
Technical Analysis of Casper Network (CSP) Coin
The CSPR price is floating in an uptrend trajectory while forming higher highs and lows. This reversed the downtrend, which had continued since early May when the price achieved an annual high. The future looks uncertain, considering year-to-date (YTD) and three-month returns of +27.90% and -9.35%, respectively.
If the next candle breaks the current candle high, the price might surge toward the $0.03680 mark while sustaining the uptrend trajectory. On the contrary, if the next candle breaks the current candle’s low, the price might melt and retest the previous support level of $0.03155.
On a higher timeframe, the CSPR price has shown a downtrend pattern while adopting various lower support levels, including $0.048, $0.036, and $0.032. However, the recent price behavior has deviated from these substantial patterns, reflecting a latent shift in market dynamics.
Analysts are currently adopting a buying stance on the CSPR price, anticipating higher volatility in the upcoming trading sessions. However, the CSPR price is currently trading above the 20-day EMA and contesting the 50-day EMA. If the technical and analyst ratings favor the Casper Network, then the price will achieve it.
The relative strength index (RSI) score is 54.01 points, denoting a rise in the participation of buyers in the market. The RSI suggests that the CAPR price may overcome the ongoing downtrend momentum.
The chaikin money flow (CMF) is trading at the 0.01 mark, indicating minimal strength in the market and that there is a high possibility that the price might pull back soon.
Conclusion
The market structure and price action of CSPR price is currently floating in an uptrend trajectory while defeating the ongoing downtrend, which has continued since early May 2023. The technical parameters indicate a rise of bullish momentum in the market, but traders should be cautious about the next move.
Technical Levels
- Major resistance: $0.063708 and $0.060748
- Major support: $0.031460 and $0.027247
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.