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- 1 The CSPR price signifies a sharp decline of over 35% this month.
- 2 Technical indicators are suggesting a breakdown ahead.
The Casper crypto price showcases underperformance and has breached the neckline support zone of $0.03000, displaying selling pressure on the charts. The token persisted in facing bearishness for weeks, and a head and shoulder pattern was spotted on the charts. This week, after multiple attempts to breach the neckline support region, sellers succeeded in breaching out of the zone, and the CSPR crypto dragged below its key support region of $0.03200.
At press time, the Casper token (CSPR) price traded at $0.02924 with an intraday drop of 12.22%, reflecting bearishness on the charts. It has a monthly return ratio of -29.77% and -48.36% on a yearly basis. The pair of CSPR/BTC is at 0.000000477 BTC, and the market cap is $352.78 Million. Analysts are bearish and suggest that the CSPR token may face a selloff and will continue to underperform ahead.
Casper Price Volume Profile On Daily Charts
The daily chart of Casper crypto showcases a downtrend, and sellers decisively dominate the battle. Moreover, the price action replicates the follow-on selling momentum, and the bulls are stayed on the back foot. Recently, sellers succeeded in breaching the demand zone of $0.02500, but a long rejection wick was spotted on the charts. The intraday trading volume dropped over 13.29% to $13.45 million.
Price Volatility and Weighted Sentiment Outlook
Following the price down move, the token displays a sharp spike in the price volatility curve over the past few weeks. The price volatility curve noted a jump over 89.90% to 0.03. However, the weighted sentiment looks neutral and stayed near the midline around -0.57.
Social Dominance and Twitter Followers Overview
The Social Dominance data noted a spike and jumped over 5.40% to 0.034%, noting an increase in the discussion reports. Similarly, the Twitter follower’s data replicated a bounce and surged over 33.20% to 30.
Development Activity and Total Open Interest Insights
The development data witnessed a significant decline of over 34.67% and dragged to the midline around 73.78, showing a neutral outlook. However, the derivative data signifies long unwinding, reflecting profit booking; the open interest sharply fell over 54.79% to $1.04 Million in the last 48 hrs.
Per the Fib levels, the Casper price has slipped below its 23.6% zone and reached the bearish trajectory. Similarly, the RSI curve stayed in the oversold region, and a negative crossover was noted on the charts. The price action shows a death crossover and highlights the bear dominance.
The total supply of the Casper token is 12.53 Billion, whereas the volume-to-market cap ratio is 0.0381, and it is ranked 177 in terms of market cap in the global crypto market.
Summary
The Casper token price is trading below the key moving averages, highlighting underperformance on the charts. Moreover, the bulls could not find a way to rebound and looked trapped in the last sessions.
Technical Levels
Support Levels: $0.02800 and $0.2500
Resistance Levels: $0.03100 and $0.3300
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
