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The Casper price rose more than 35% over the past 24 hours to trade at $0.04752 as of 9 am EST.
Casper Price: Technical Analysis
Daily chart for CSPR/USDT (Source: TradingView)
The Casper price broke above the $0.03965 and the $0.04660 resistance levels in the past 24 hours. Should the altcoin close today’s trading session below the $0.04660 barrier, it may return to the $0.03965 mark. If sellers continue to exert pressure on the altcoin, it could fall to as low as $0.03090 in the short term.
There is, however, still the possibility of the Casper price continuing its ascent. This may remain true if the cryptocurrency closes today’s trading session above $0.03965.
Technical indicators supported a short-term bullish outlook as both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are flagging bullish. The MACD line is breaking away above the MACD Signal line, suggesting strong bullish momentum. This strong buying power was also expressed by the RSI line, breaking away above the RSI Simple Moving Average (SMA) line.
Casper Price Approaching Overbought Territory
The RSI line was, however, approaching overbought territory. Therefore, traders may want to see how the Casper price performs in the next 48 hours before considering going long on the cryptocurrency in the next few days.
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