Casper (CSPR) gains almost 12% Today

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At the time of writing this article, CSPR, the native token of Casper, has a value of $0.2114 (12.07% increase today) with a trading volume of $79,919,044 with an increase of about 3.63% over the past 24 hours. It has been of the top gainers today among the top 100 cryptocurrencies.

CSPR is listed on coinmarketcap in 149th place. It has a market dominance of about 0.02%. CSPR had created its all-time high around the price of $66.44 in May 2021.  During the crash, the price dropped down to a level of $0.05 from where it showed reversal. The price is still increasing but it would be quite long before CSPR can touch a dollar.

The maximum supply of CSPR is around 10B while the current circulating supply is around 2.76B coins.

Technical Analysis – Casper (CSPR)

On the monthly time frame, the price is dropping and we have seen a decrease of 7.52% this month. But considering the fact that CSPR gained 88.96% in the past month is remarkable.

On the daily time frame, we can see that the price has been printing higher highs on the daily time frame. It was following an ascending channel. It had been rejected two times from the channel but is still on the channel.

After breaking the structural shift, the price left an order block that has still been unmitigated to date. Now the price is losing steam and momentum.

CSPR - 1D

There are two possible outcomes as to what the price may do now. If the price drops to the channel but gets bounced back, we can expect the price to rise up again. If CSPR drops down and fails to hold the level, we can expect the price to drop down and touch the order block present below.

A confluence to the movement is the Fibonacci Retracement tool. The 0.786 and 0.618 zone is also present in the same area where the order block is present. From here, lower time confirmations should be taken into consideration to look for possible longs at that position. But this move will only be taken into consideration if CSPR fails to hold the level and drops down.

Price Prediction – Casper (CSPR)

According to the wallet investor, it is expected to reach the value of $0.0080 in a year. This means that according to their calculations and prediction Casper (CSPR) isn’t a good investment.

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