- The Casper crypto price has slipped below the 200-day exponential moving average.
- The CSPR price has declined by 28% in the last 20 days.
Casper’s price has been struggling below the $0.600 mark for over a year. The CSPR crypto price has witnessed intense selling pressure in a broader time frame and is currently trading at the bottom. At the beginning of March, the Casper price was pumped by 38% in 10 days, but it took a reversal and showed the seller’s dominance, which led to a fall of 28%.
Since January, the Casper crypto price has performed negatively and melted by 37% in a month. The price took support on the $0.0330 mark, witnessed buying pressure for the short term and extended to the last swing high.
The current market price of Casper crypto is $0.0390, with an intraday loss of 0.75%. The market capitalization is $465.67 million, and the fully diluted market cap is $488 million. The trading volume for the last 24 hours is $8.16 million, which has decreased by 24.69%. The circulating supply is $11,900,945,808 CSPR, and the total supply is 12,489,565,545 CSPR.
Casper Crypto Price vs Volume Analysis
According to the graph of price and volume, the trading volume has been decreasing since the beginning of this month, which has negatively impacted the price. In the last 3 days, the trading volume has decreased by 50%, but the price has remained constant. According to the data, the Casper crypto price may show bearishness in the next few days.
Casper Crypto Social Dominance and Social Volume
As we can see on the graph of social dominance and volume, awareness and interaction about Casper crypto on social media have decreased for the last few months. Due to the fall in social dominance and social volume, the price has also declined. If social dominance and social volume keep declining, the price may decline further.
Will Casper Crypto Price Manage to Sustain the $0.0600 Mark?
According to the technical chart, the Casper price has been facing resistance from the $0.0600 mark, and sellers are strong at this level. The CSPR crypto price has recently shown strong price rejection from the $0.0600 mark and declined by 38% in a few weeks.
Currently, the Capser price is trading below the 200-day exponential moving average, and 3 days ago, it tried to surpass the 20-day EMA but failed to do so. The price has been defending the $0.0380 level for the last two weeks.
If the CSPR price slips below the $0.0380 level and sustains, then the sellers may drag the price to the support level of $0.0330. It may record a new all-time low if the price fails to defend the $0.0330 level.
On the other hand, if the CSPR crypto price surpasses the 20-day EMA and sustains, the buyers may lift the price to the resistance level of $0.0600. Suppose the Casper price chart manages to attract buyers and the price surpasses the $0.0600 mark; a bullish trend for the long term can be expected.
Turning to the technical indicators, the CSPR price is trading below the 200-day EMA, indicating a bearish trend. The RSI is at 43, facing resistance from the RSI-based moving average and showcasing the bears’ grip.
Conclusion
It seems that the Casper crypto price has been facing significant challenges, with strong selling pressure and a struggle to maintain key support levels. The decreasing trading volume and social dominance also indicate a bearish trend shortly. It will be crucial to monitor whether the price can sustain above the $0.0380 level and surpass the 20-day EMA to signal a potential bullish trend. However, the current indicators suggest a bearish trend, with the price trading below the 200-day EMA and facing resistance at key levels.
Technical Levels
Resistance: $0.0415 & $0.0500
Support: $0.0380 & $0.0330
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.