- CASPER Coin has formed a falling wedge pattern on the daily chart.
- CASPER Coin has corrected over 46% in the last 6 months.
- The Current market price of the CASPER Coin is $0.030742.
CASPER Coin is in a strong downtrend which was started in MAY 2023. It has corrected by over 50% within 5 months, suggesting that the sellers are very strongly present in this coin. However, the coin has shown a great jump at the beginning of this year, as it has gained about 146% from the lower level. Eventually, it failed to continue its upward momentum.
CASPER Coin has failed to develop the trust of the investors over the period of time. Since listing, it has continuously fallen down and it seems like buyers are not that interested in absorbing the supply. Till now, the coin price has been melted down by 99.90% which is a huge blow for the initial investors.
CASPER Coin is able to defend the $0.30 level this month, as the coin has made several failed attempts to breach this level. However, the sellers seem to be aggressive at this level also. This can be confirmed by the candle wicks, as the candles are forming long wicks on the upper side. It indicates that the buyers are trying hard to push the price up but the sellers are in full control.
A Glimpse of the CASPER Coin Chart
CSPR Coin on the daily chart has formed a falling wedge pattern and currently, it has been trading inside it. The upper level of $0.031750 and the lower level of $0.029350 will be the breakout levels for the pattern. However, this pattern is considered a bullish pattern as the success ratio of this pattern is higher on the bull’s side.
CSPR coin price is trading below the 50-day and 200-day Exponential Moving Average which is a bearish sign. It witnessed a death crossover in the month of July which gave a boost to the sellers. The resistance levels for the coin are present at $0.035372 and $0.041959. If we consider the support level, then it is present at $0.026102 and $0.022224.
What do the Indicators Suggest about the Coin Price?
Currently, the CSPR coin price is facing a strong rejection from the median line of the Bollinger Band Indicator. Both the band of the indicators are enclosing which suggests that the coin can witness some less volatile moves ahead. The Relative Strength Index is currently operating at the level of 41.01 which is a bearish sign. However, it is noteworthy that the RSI is struggling to cross the 50 level.
Conclusion
CSPR Coin price has formed a falling wedge pattern and the coin price is awaiting the breakout. If the coin gives a breakout on the upside, then it can try to regain the level of $0.035372 and $0.041959. However, if the price breaks the pattern on the downside, then it can try to move towards the $0.026102 and $0.022224 levels.
Technical levels
Resistance -$0.035372 and $0.041959
Support -$0.026102 and $0.022224
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.